After a motorcycle accident, recovering damages from the liable party is critical. However, calculating the full value of your claim can be challenging. Many factors must be taken into consideration when determining how much your claim is worth. Fortunately, an experienced attorney can help you calculate the worth of the damages available to you.
At Vaughan & Vaughan, we have a long history of helping our clients get the money they need and deserve after an accident. We have been helping accident victims in Indiana recover compensation for over 100 years. Reach out to us today by phone or through our website to schedule a free consultation with one of our Indiana motorcycle accident lawyers.
Types of Damages
The first step in calculating the value of your claim is identifying all of the damages that apply to your case. Whether attempting to recover compensation through a personal injury lawsuit or an insurance claim, it is critical to identify how much your case is worth.
Following a motorcycle accident, you will be able to recover a wide variety of damages. Some of the damages available include:
- Property damage
- Medical expenses
- Lost wages
- Decreased earning ability
- Pain and suffering
- Loss of consortium
- Permanent disability
- Diminished quality of life
- Punitive damages
Property Damage
Property damage is straightforward and easy to calculate. Any damage to your motorcycle or any personal property you were traveling with that was damaged in the crash is covered under this category. The money awarded for property damage is supposed to replace the money spent on repairs or replacement of your property.
Medical Expenses
For the medical treatments you have already received, calculating your medical damages is as easy as adding up your medical bills. However, things get a bit more complicated when it comes to ongoing medical care. For these damages, a medical expert will evaluate the injuries you have sustained and the future medical treatment you will require to determine the value.
Lost Wages
Any income you lost because of time away from work due to your accident is repaid with these damages.
Decreased Earning Ability
If the injuries you suffered in your accident affect your ability to earn income in the future by limiting the duties you can perform, you can receive these damages. Calculating these damages can get a bit complex as several factors must be considered, including:
- Your employment status at the time of the accident
- Your yearly income
- Your age
- The opportunities for advancement in your position
- Whether your injuries prevent you from working entirely and, if not, the extent to which you are limited
Pain and Suffering
Pain and suffering damages are very difficult to calculate because these damages are not awarded as a means of replacing losses suffered by an accident victim. Instead, pain and suffering damages are meant to compensate an accident victim for any losses they suffered that resulted in physical, emotional, or mental pain.
The court uses a formula to determine the value of these losses based on the level of your pain and suffering and the economic damages you sustained.
Loss of Consortium
Loss of consortium damages are meant to compensate an accident victim for the loss of benefits from a personal or intimate relationship such as affection or sexual relations. Since these losses are not monetary, the amount awarded for these damages can vary.
Diminished Quality of Life
Any other losses that affect the overall quality of your life are covered by these damages. These damages include things like permanent disabilities that impact your ability to enjoy your favorite activities. The amount awarded for these damages can differ significantly.
Punitive Damages
Punitive damages are awarded as a means of punishing the liable party for the role they played in causing the accident to occur. The court reserves punitive damages for extreme cases involving criminal negligence or intentional harm. Punitive damages are rarely awarded, but when they are they can be significant.
There is no national cap on these damages. However, every state has its own limitations and guidelines. The court will decide how much to award for punitive damages based on the severity of the offense.
An Experienced Lawyer Can Help Ensure You Recover All Available Damages
Identifying all of the damages that apply to your case and calculating their value can be challenging. However, an experienced lawyer will know exactly what to look for when evaluating your claim. By hiring a motorcycle accident attorney, you can ensure that you are in a position to recover all of the damages available in your case.
Your lawyer will determine how much your claim is worth which will enable you to seek the full value of your claim in court and put you in position to negotiate for a fair out-of-court settlement.
Contact an Experienced Motorcycle Accident Lawyer Today
At Vaughan & Vaughan, we can help you recover the compensation you need and deserve after an accident. Our team of experienced motorcycle accident lawyers has a reputation for winning big for our clients. Our case results speak for themselves.
Reach out to us today by phone or through our website to schedule a free case consultation with a member of our legal team. One of our motorcycle accident attorneys will review your case and advise you of your legal options moving forward.
