Though every claim will vary in compensation, there are common factors that affect the value of the accident claims you make. If you’ve been involved in a motorcycle accident as either a rider or passenger, we’ve listed these common factors below on determining how much a Motorcycle Accident Injury Claim is Worth.
Taking liability and damages into account
When assessing liability in an accident, you’re identifying who is at fault for the accident. If you cannot prove that someone is liable, the value of your case is greatly affected. While settling your case in court, you as the plaintiff will have to prove that the defendant is negligent. If you’re unable to prove this, the defendant, unfortunately, doesn’t owe you anything.
On the other hand, damages will relate to the injuries and other losses you’ve suffered from being involved in the accident. The more severe your injuries are, the higher your compensated injury damages may be.
Settlement Value vs. Trial Value
The settlement value of your case is the total amount of everything you want to get compensated for. In many cases, the settlement value will be significantly less than the trial value. This is because you’ll settle a case in order to avoid the risk of losing at trial.
However, with trial value, this number will serve as what you reasonably expect to win a trial. For instance, let’s say you go to trial and believe that you will be awarded $100,000. While this number will be ideal to compensate you in many areas of your life, you may also think that you only have a 20% chance of winning. In this situation, you may want to settle your case for a little less than $20,000 (20% of the expected trial value). Once again, the settlement value of the case will be lower than the trial value multiplied by the estimated chance of winning.
How Damages Are Calculated in a Motorcycle Accident Case
The damages in a personal injury case are of two types: damages capable of exact calculation and damages incapable of exact calculation.
Special damages include the plaintiff’s past, present, and future lost earnings and lost earning capacity. This will be employment benefits, medical bills, or other financial losses that they may have incurred from the accident. Since special damages are calculated to the dollar, they are precise.
However, there are damages that cannot be precisely calculated. Pain and suffering happen to fall into this category. With this in mind, judges will typically instruct juries to use reasonable judgment, background, and experience in determining a fit amount to compensate the individual who has been through pain and suffering.
Calculating Lost Earnings and Lost Earning Capacity
Calculating past lost earnings require you to add up the earnings and employment benefits that you’ve lost from being out of work. However, future lost earning capacity isn’t as simple. You’ll likely find out that most lawyers will hire an economic expert to properly present lost future earning the capacity to the jury. This is because it includes the concept of present value.
Discuss Your Motorcycle Accident Claim with DZ Firm
Our results speak for themselves. With over 30 years of handling motorcycle accident claims, Attorney Dan Zohar possesses the experience and skills to guide you and help you maneuver through these difficult times. Get in touch with us today!