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The Types of Damages that Affect A Settlement Amount

The Types of Damages that Affect A Settlement Amount

It is very common for victims of an accident that have sustained injuries to ask how exactly the full settlement is calculated. Many varying factors come into play regarding the different damages that can contribute to the full amount one is awarded. Some are more straightforward while others are a bit more challenging to put on a number value.

What Are Damages

Damages come in a couple of categories:

  • Property Damage would be the physical damages to a vehicle with respect to a car accident. Additionally, this category includes personal items or equipment that may have sustained damages from a defendant.
  • Lost wages occur when a victim has sustained injuries that preclude them from working and earning their income. When a defendant is likely to be out of work for some time and have the future possibility of lost wages, this amount can go into the final calculations.
  • Medical expenses can relate to diagnosis, treatment, a therapy that occurs right after the accident as well as long term care which may be required in the future for serious injuries.
  • Pain, suffering, loss of companionship can be a gray area. If there is enough emotional distress from the incident that can be proven via physical disfigurement or other detrimental side effects this category can be considered in compensation. There isn’t a defined set of rules that outlines how much can be obtained from this category but an experienced Nevada personal injury lawyer will know how to put together a suitable amount to recoup costs here. In the state of Nevada, it will most likely be up to a jury to determine the award amount for this category if your case goes to trial.
  • Miscellaneous damages can include permanent mutilation, scarring, loss of body parts, need future assistance from injuries suffered, these can also add into the final tally.

Special Damages

This is a legal term that is commonly used in settlement negotiations that put a value on the total property damages, lost wages, and medical expenses of the accident. Special damages are the tangible costs that are more easily defined and quantified. Insurance companies generally try to only pay for special damages and not so much for those damages that aren’t easily tabulated like pain and suffering. This another reason why it is important to have a Nevada personal injury attorney fighting on your behalf to ensure you gain your full compensation and aren’t short-changed.

Future Compensation

When a victim is likely to incur future expenses from medical costs or therapies, loss of wages, etc. these costs will only have a likelihood of being distributed when there is an expert to testify to the need for these additional costs. There are so many factors that go into defining the burden of proof for each category when it comes to formulating a full settlement that moving forward with negotiations without a skilled Las Vegas personal injury attorney is not a good idea.

There is a 2-year window for a victim to file a personal injury claim which is Nevada’s statute of limitations. Missing this window of time could cost you your full settlement if not all of your compensation that you need to help you recover. Call the experienced Nevada serious injury lawyers at the Cottle Firm today at 702-722-6111 when you have a personal injury claim. We will discuss your specific situation and get started on your case.

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