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Suppose you have been involved in a motorcycle accident and seek compensation for the injuries, property damage, and medical expenses you endured from the collision. In that case, you should know that there is no one-size-fits-all formula for calculating damages. There are several complicated factors to consider when deciding the damages to be calculated in a motorcycle accident case, including when the collision occurred, how it happened, who was at fault for causing the accident, and whether or not there was a pre-existing injury. Seeking professional advice to help you achieve the maximum monetary recovery possible is highly recommended.
Economic VS. Non-Economic Damages
Economic damages are relatively straightforward. They are damages that can be calculated in terms of money and include medical bills, lost wages or loss of earning capacity, property damage, pain and suffering, and the like. You should account for your out-of-pocket medical expenses and anticipated future medical expenses. Economic losses include your wage loss or lack of earning capacity if the accident resulted in a severe injury that prevented you from continuing to work at a job you could have continued to perform for many years. In a case involving a young, injured person with a promising future, the lifetime lost wages or loss of earning capacity can be extremely high.
Non-economic damages are more difficult to calculate. They are often more subjective and can include emotional distress, pain and suffering, and loss of enjoyment in life. If you were injured in a motorcycle accident, you might not be able to work because your job involves physical labor that was made impossible by your accident injuries. An attorney can help you determine if your non-economic damages are to blame for lost wages and the extent of your injuries.
How Do I Calculate the Value of My Motorcycle Crash Claim?
Keeping in mind all of the above, there are several factors that you can use to calculate the monetary value of your motorcycle crash claim.
The bills for your medical treatment and rehabilitation should be documented, and you should be able to provide receipts for any out-of-pocket expenses. If you must seek treatment from a specialist or in the case of a severe injury, medical bills might also include travel expenses and lodging costs.
The value of your lost wages depends upon the type and severity of your injuries. Still, you should be prepared to provide documentation such as pay stubs and employment records indicating the extent of your disability.
The cost of replacement of your possessions or damaged property, such as a bike or accessories. You should be prepared to claim the value of any motorcycle gear you have taken with you to the doctor’s office or rehabilitation center. This can include any clothing, accessories, helmets, boots, and other equipment that may have been damaged in the accident. An attorney will tell you if this item may be entitled to coverage under your homeowner’s insurance policy. Usually, your motorcycle should be considered if it was totaled. Still, in cases where only the front end of your bike was damaged, the cost of labor to repair the frame and bodywork can be deducted from your recovery amount.
Get Help from Experienced Injury Lawyers and Accident Attorneys
Do not wait any longer if you have been injured in a motorcycle accident. You should be aware that your health insurance will not reimburse the cost of medical treatment and rehabilitation once you leave the hospital because you are considered partially at fault in the crash, regardless of your financial status. You should contact an attorney immediately to begin dealing with the insurance companies and negotiating with them.
