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What Is a Personal Injury Claim? You Tube is a formal assertion of your right to compensation. The compensation is usually granted by a jury or judge following an investigation. Economic damages refer to actual costs like medical bills or lost wages. Non-economic damages include the compensation for emotional distress and suffering. Damages If someone is injured due to the negligence of another company or individual's or wrongful conduct and is injured, they are entitled to compensation for their losses. Damages are awarded based on the specific circumstances of the accident. They can be decided by a judge following a trial or by the parties after the settlement negotiations. Personal injury damages can be classified into the following categories: Economic damages refer to the actual monetary expenses or financial losses that are incurred as a result of an accident and injuries. These can be established with receipts, invoices, and other documentation. Economic damages could include future costs that are foreseeable like medical expenses, loss of earning potential and ongoing medical care. Noneconomic or hedonic damages are the psychological and emotional consequences of a collision or injury. They are more difficult to quantify than the financial or expense loss. There is no set formula to value these damages, and insurance companies typically employ a multiplier, or per diem depending on the severity of the victim's injury. The injuries that result from an accident can prevent you from enjoying the day-to-day pursuits of life such as exercise, hobbies and even relationships with family and friends. In this case you may be entitled to “loss-of-enjoyment” damages to compensate for your loss. In the end emotional distress damages are intended to provide you with the financial compensation for the stress and mental anguish you have endured as a result your injuries. These damages could constitute the majority of your compensation package. Punitive damages don't compensate you for the losses you have suffered, but rather penalize the party at fault for their outrageous or unconscionable actions. These are usually granted only in the event of serious injuries or wrongful deaths. If you or someone close to you was injured in an accident, it's crucial to contact an New York City personal injury attorney immediately to start gathering evidence and support for your claim for damages. The sooner you start the process of proving your negligence and the magnitude of your losses the more likely it will be that you'll be awarded an equitable settlement. Statute of limitations It is important that personal injury claims are filed within the statute of limitations which is a defined time frame following an incident in which a claim is made. This is beneficial to both the party who was at fault as well as the insurance companies who pay out on the claims. It also gives the victim a chance to recover the amount of compensation to which they are entitled to. However, the statute of limitations is different according to the state and type of case. A knowledgeable attorney will be able to inform clients of the specific statute of limitations that applies to their particular case and any exceptions that may apply. In certain cases the discovery rule can extend the statute of limitations past its usual three-year period. This is because the clock does not begin ticking on claims until the person who has suffered an injury realizes or ought to realize that there is an association between their injuries and the event that caused it. This is often the case for toxic exposure injuries, such as asbestos, but could also apply to medical malpractice cases or pharmaceutical injury cases. Some states permit an extension in cases where the injured party was minor at the time of the incident. They cannot file a suit until they are older and it can be difficult to comprehend the fact that their injuries were caused by someone else when they are younger. The future ability of a person to earn a living can be considered as part of the damage, particularly in the event that they were disabled from working. In these situations, the injured party has the right to receive compensation from their employer for the amount of wages they would have earned had they not been prevented from working because of their injury. It is essential that injured parties seek legal advice as quickly as they can after their accident. They should consult with an experienced personal injury lawyer to determine what the time limit is for their particular case and discuss any possible exceptions. Insurance coverage Insurance coverage is the broad term used to describe policies or agreements which protect against liability, loss, and damage. It can refer to auto, health, boatowners, and personal watercraft insurance as well as insurance for liability and property. Life insurance policies, annuities and trusts could also be included. Insurance companies may be affiliated with financial service providers or operate on their own. They can also utilize a variety of business models to provide their products. Liability insurance shields you from the cost of bodily injuries and death that you cause while driving your vehicle. It can also cover property damage to a vehicle or property belonging to someone else (such as fences, buildings or utility pole). PIP or personal injury protection insurance pays for your medical expenses and those of your passengers in the event that you are injured in an accident that was not your fault. The insurance also covers lost income and compensation for pain and suffering. Damages for loss of enjoyment in life could compensate you for the negative impact that an accident has had on your daily life like missing out on activities that you previously enjoyed. Compensation for pain and suffering is intended to restore your health by taking care of the physical discomfort as well as your emotional pain. Loss of property damages may cover the costs to repair or replace damaged items or even recover their fair market value. Damages to property are typically valued at replacement costs which is the amount you would be required to pay to replace the item with one similar quality and type without incorporating depreciation. A personal injury settlement can include compensation for funeral expenses should they be required. Representation Personal injury claims are civil lawsuits which award monetary compensation for individuals who have suffered injury as a result of the negligence or reckless behavior of another. This includes claims arising out of work injuries, car accidents, and medical negligence. A personal injury attorney can assist you in evaluating the case and determine the compensation you are entitled to. Attorneys are usually paid on a contingency basis, which means that they only receive compensation if you win your case. This arrangement permits injured plaintiffs to pursue their cases without the risk of losing money if they do not succeed in their lawsuit. You may be awarded general damages in addition to monetary compensation for your economic losses. These damages are not quantifiable in the same way that special damages are, but they do include less tangible costs like pain and suffering loss or consortium, defamation and emotional distress. The amount of damages is contingent on the severity of your injury and how it has affected your life. A knowledgeable lawyer can explain the severity of your injuries and their impact on your life to maximize your compensation. Your lawyer will question witnesses and gather evidence to support your case. He or she will review medical records in order to determine the severity of your injuries and their long-term effects. They can also advise you about how accepting a settlement could affect your tax bill. After they have gathered all of the relevant information for your case, your lawyer will draft a complaint. This legal document will include your legal arguments regarding the reason why the defendant is responsible for the accident and the amount of damages you are seeking. Your lawyer will file all the necessary paperwork with the court. Your lawyer will negotiate on your behalf with the insurance company once the complaint has been filed. It is a complex procedure for those not experienced with the procedure, since insurance companies will not pay large sums of cash and will fight to protect its bottom line. One mistake can cost you thousands of dollars, so it is essential to have an experienced attorney on your side, who is familiar with the process.