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How to Calculate a Fair Settlement for Your Injuries in Illinois

Accidents happen far too often in Illinois, and they have the potential to change your life forever. The injuries you are left with will cause you to incur high medical bills, miss time from work and the wages you make along with it, and you will experience much pain and suffering. Illinois law allows you to recover these losses through a personal injury claim when the accident was caused by another person’s negligence.

Without first fully reviewing the facts of your case, there is no way to determine the value of a fair settlement. A personal injury lawyer in McHenry County will know how to fully calculate your past and future losses so you can pursue the maximum damages to which you are entitled. In the meantime, below is a brief guide you can use to estimate the value of your claim.

Economic Damages

Economic damages are sometimes also called “financial damages” because they have a concrete dollar value. For example, if you have seen a doctor and received medical bills and invoices, you can include the full amount of those costs in your claim. Likewise, if you could not go to work for a period of time following your accident, you can also claim your lost income, benefits, and bonuses you would have otherwise received.

To calculate your economic damages, you simply have to gather your bills and add them up. It is also important to collect documentation of these costs and keep them in a safe place, as they will serve as valuable evidence in your claim.

Non-Economic Damages

Just as economic damages have an actual dollar value, non-economic damages do not. The law recognizes that not all losses, or damages, have a concrete dollar value, but that they are losses just the same and you deserve compensation for them. Non-economic damages include losses such as your pain and suffering, or a loss of consortium if your injuries prevent you from intimate relations.

Non-economic damages are much more difficult to prove than economic damages. Most people do not know how to assign a value to their pain and suffering and other non-economic losses. A lawyer will know how to calculate these losses and will likely multiply them by the economic damages, or assign a certain value for every day you have suffered from your injuries. In any case, Illinois once placed a cap, or limit, on these types of damages, but that law has since been struck down and you can claim the full damages you deserve.

Our Personal Injury Lawyers in McHenry County Can Value Your Claim

While valuing a claim is not always easy, our McHenry County personal injury lawyers at Brassfield & Krueger, Ltd. have the necessary experience to ensure all of your losses are accounted for, and that you receive compensation for all of them. Call us today or fill out our online form to schedule a free consultation and to learn more about your legal options.

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