How to Calculate a Personal Injury Settlement in Louisiana
One of the most common questions our clients have as we prepare to seek compensation from the person or persons who are liable for the cause of their injuries is “How much is my claim worth?” This is a tough question to answer, but a good rule of thumb is the more severe and impactful your injuries have been on your life, the more you can expect to be awarded.
As such, we have described some of the most commonly sought damages in a personal injury settlement so you have a better understanding of the damages that will be taken into consideration when calculating the value of your Louisiana lawsuit.
What Are Economic Damages?
Your out-of-pocket costs are frequently known as economic damages in the legal field. These financial damages might consist of your property damages, the loss of income, the full extent of your medical expenses, and the damage to your ability to earn a living in the future, to name a few.
While these types of losses are sure to be a cause for concern, they are actually the easiest to quantify and play a critical part in the calculation of your non-economic damages.
Other Losses You May Be Able to Recover
Non-economic damages include every other way your life has been negatively impacted by the injuries you sustained, including your physical, psychological, and lifestyle losses. A few examples of these types of damages include:
- Loss of enjoyment of life
- Loss of household services
- Emotional distress
- Loss of companionship and love
- Pain and suffering
As you can imagine, placing a monetary value on non-economic damages can be a challenge, as their importance will vary on a case-by-case basis.
There are a couple of different ways we can calculate these losses; one is on a per diem basis, and the other is by multiplying the total combined economic damages by a value given for each day that you dealt with the effects of your injuries. The one that produces a greater compensation amount is the one that will typically be used to officially determine how much your claim is worth.
Meet with a Personal Injury Lawyer in Louisiana
To learn more about how much your civil claim could be worth, consult with a highly trained Louisiana personal injury lawyer at the Law Office of Braud & Gallagher. You can schedule a complimentary consultation by calling our firm at 1-800-256-5674 or submitting the quick contact form at the bottom of this page.