Insurance Damages Experts And Your Personal Injury Claim

Robin Wells

When it comes to a personal injury claim, the range of potential compensation can be extensive. It's important to understand the details of your claim, how long your injuries are expected to last, and what each of your injuries is worth monetarily. An insurance damages expert can give you the guidance needed to evaluate a claim, and determine what a fair monetary value is for the claim. Whether you are a defendant or a plaintiff, you will want to know what the claim is worth to determine your next steps. Damages in a personal injury claim can be simple, such as lost wages. It is when there is significant pain and suffering that the claim becomes difficult to monetize.

The Extent of Injuries

In a personal injury claim, it is necessary to determine the extent of the injuries sustained by the victim. This is done to assign value to the injuries in a concrete way. An insurance damages expert works with guidelines to determine what injuries are more valuable monetarily. For example, the loss of a finger is worth less than the loss of an entire limb. It is a methodical way to evaluate a claim to determine what a reasonable settlement offer is.

Pecuniary Losses and Injury Claims

Pecuniary losses are the easiest to evaluate, as they have clear value. Lost wages are simple to calculate. Property damage can be added up, and medical bills can be added into the total of pecuniary losses. These are often the smaller portion of any personal injury claim, as they only take care of financial losses established by the injured party.

Non-Pecuniary Losses and Claim Value

It's much harder to measure non-pecuniary losses, such as pain, suffering, and loss of enjoyment. An insurance damages expert will look at how young the victim is and how much their life has changed because of the injuries. Pain and suffering are evaluated, and this is where a larger amount of compensation comes in. If damages are permanent, or the defendant caused the injuries on purpose, the claim amount will rise. 

Insurance damages experts are there to get a better understanding of what a personal injury claim is worth. They look over the details and assign a monetary value to various components of the claim. This helps to create a settlement offer or gives parties a better idea of what to expect if the claim goes to court.


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