If you have suffered an injury due to another party’s negligence, the consequences often go beyond physical wounds. Victims frequently endure persistent pain and a reduced quality of life. These non-economic damages are commonly referred to as “pain and suffering” damages, which can greatly impact the total value of a personal injury claim. We will delve into how these damages are calculated in New York personal injury settlements and how our dedicated Queens Personal Injury Attorneys can help you fight for the compensation you deserve.
What’s the Difference Between Economic and Non-Economic Damages?
When you file a personal injury claim in New York, you can generally seek compensation for your economic and non-economic damages. To pursue the maximum recovery allowed by law, it’s crucial to understand the difference between these two types of losses, as this knowledge will help you determine the potential worth of your claim and how an attorney can assist you.
Economic damages represent the out-of-pocket costs you have endured as a result of your injuries. These losses can be easily calculated and proven with documentation. Economic damages may include medical expenses, lost wages, and property damage. Non-economic damages, on the other hand, compensate for the intangible harm that doesn’t come with a receipt. They reflect the emotional and psychological impact of being injured. These damages may include emotional distress, loss of enjoyment of life, and disfigurement.
How Are Pain and Suffering Calculated in a Personal Injury Claim?
Pain and suffering fall under the non-economic damage category, which encompasses both the physical discomfort and mental anguish resulting from your injury. Insurance companies often rely on using either the multiplier or the per diem method to calculate pain and suffering in a personal injury settlement.
The multiplier method is frequently used, where the total sum of your economic damages is multiplied by a factor, typically between 1 and 5, based on the severity of your injury. A higher multiplier is used for more catastrophic injuries. For instance, a permanent or life-altering injury might use a multiplier of 4 or 5. If your economic damages amount to $20,000 and your injuries are moderate, warranting a multiplier of 3, your pain and suffering would be $60,000.
The per diem method, in contrast, assigns a specific monetary value to each day of suffering. The daily amount is then multiplied by the number of days you experienced pain. The daily rate is usually based on your daily wages. For example, if your suffering is valued at $200 per day and the person suffered for 180 days, the total would be $36,000.
It should be noted that inconsistent accounts of your suffering can reduce the value of your claim, while consistent testimony that aligns with medical evidence will bolster it.
At The Law Offices of George Poulos, we are prepared to fight for the maximum compensation to which you are entitled. Our legal team can negotiate on your behalf and help prove how your injuries have impacted your well-being. Connect with our firm today to schedule a consultation.