What is the Average Settlement Amount for Motorcycle Accidents?
Each and every accident is traumatic, includes some type of injury, and causes a domino effect that can seriously alter your daily routine. A motorcycle accident is no different, however many times include more physical pain as your body is not surrounded by the metal framework of a passenger car. The worth of a motorcycle accident is wrapped up in two areas:
- Liability: if you can prove that the other person was a fault, or negligent, then your case will hold a high value in your settlement amount. It is always the responsibility of the Plaintiff (you) to prove the burden of responsibility on the Defendant (the other driver), therefore making it their legal obligation to compensate you for the damages you have suffered.
- Damages: the losses you have suffered along with any injuries connected to your accident will be what establishes the quantity of your settlement amount. The more significant the injury, the higher the amount of compensable injury damages.
Are there different types of settlement values I should prepare for in my motorcycle injury case?
As you try to establish a value for motorcycle injury claim, there are two distinct types of valuations:
- Settlement Value: what your are able to reasonable hope to settle the case for. The Settlement Value will be significantly less than a Trial Value, due to the fact that you are seeking to settle out of court to avoid losing at trial.
- Trial Value: what you reasonably expect to win at trial.
- Special Damages: these are damages capable of exact calculation, including but not limited to your personal past, present, and future lost earnings and earning capacity. These can be considered through employment benefits, medical bills, and other financial losses. These are calculated to the dollar.
- Pain and Suffering: these are damages that cannot be measured by exact calculations. There is actually no guidelines for determining the value of pain and suffering. Because of this, a judge will generally instruct the jury to use their good sense, background, and experience in determining your pain and suffering.
How do you calculate the damages in a motorcycle accident?
Typically, there are two types of damages in a personal injury case:
Exactly how do I calculate the lost earnings and future earnings due to my accident?
In order to solidify the settlement amount, you would need to calculate the past lost earnings by simply adding up the earning and employment benefits that you lost from being out of work. However, calculating future lost earnings is bit more complicated. Generally speaking, this would require you to retain the services of an experienced and professional lawyer who has access to hiring an economic expert to properly present lost future earning capacity to the jury. The reason? This involves the concept of present value.
Other important considerations in motorcycle accidents
It is important to note, that it would be in your best interest to retain the services of an experienced and professional lawyer who has many resources at their disposal. This will ensure you to obtain the best possible outcome with your personal injury case, along with help you to navigate the different and unique circumstances you are facing with your situation and State. Having their professional experience to back you up, along with the confidence you will gain in making sure you have not left anything out in seeking the best possible solutions, your motorcycle accident settlement will be something that comes to good closure and allows your life to continue moving forward at the best possible pace.