Accidents can cause losses of all kinds. The most common examples of accident losses are generally economic in nature—medical bills, lost income, and others like it.
But anyone who’s been involved in an accident knows the losses also include emotional pain resulting from going through a traumatic event. How much is pain and suffering worth? Read on to learn more about quantifying intangible losses and the vital role a Dallas personal injury lawyer can play.
As mentioned above, your medical bills and lost wages aren’t the only ways an accident can impact your life. For anyone who’s been involved in a serious accident—whether a car accident, work accident, or anything like it—there’s usually going to be a fair bit of emotional trauma.
This trauma can come in response to the violent nature of the accident, but also from the intangible ways your life can change after an accident.
Pain and suffering damages, as a result, can be negotiated for or included in a personal injury settlement. In order to calculate these losses, you first need to have a good understanding of the value of your economic losses, and how much you should receive for them.
Finally, your personal injury attorney can work with the insurance company to have pain and suffering damages included in your settlement. Usually, these damages are calculated using a multiplier—such as 1.5, or up to 5—to increase the value of your personal injury settlement.
For example, if the total of your economic damages equals $100,000, adding a pain and suffering multiplier of 1.5 could have you walk away with $150,000 in total compensation.
The process of receiving compensation for your pain and suffering is never automatic, however. The only way to know for sure that you’re getting fair compensation is to have an experienced attorney review your case before accepting any sort of deal from the insurance company.
At Chris Lewis & Associates, P.C., we understand you’re more than just a number on a page—and your losses after an accident go far beyond the number at the bottom of a hospital bill. When you’ve been injured, we can help you secure maximum compensation.
Call us now at 214-984-3113 or fill out the form below to reach out with questions.