The bills will start coming in shortly after a significant car accident. The stress increases if you can not work and bring in money. You realize you have the legal right to seek compensation for your injuries and other losses if the accident was someone else’s responsibility. Even if your insurance company offers you a settlement quickly, you should talk to a Nevada car accident attorney first.
Without consulting an attorney, you may be unaware of the damages you are entitled to. If you do not research what expenses victims of negligence in Nevada are allowed to incur, you can miss out on compensation, so click for help now!
Losses, Both Monetary and Otherwise
Economic and non-economic damages are distinct categories in personal injury law. An experienced Nevada personal injury attorney can help determine your eligibility for these programs.
Receipts are available for monetary losses. These costs, like a hospital bill or a report detailing your lost wages, may be easily quantified. If you are harmed in an accident, file a claim with your insurer, or sue another party and win, you will receive financial compensation. This is why a Nevada automobile accident attorney would recommend that you save any paperwork and receipts associated with the incident. Before making a payment, an insurer will want to see this evidence.
However, your claim may not include compensation for “non-economic damages.” There are intangible losses associated with the accident, such as the pain and suffering you endured. Although there is no way to put a price on mental agony or PTSD, a personal injury attorney in Nevada will fight for you to receive compensation for these intangible losses.
Using a Multiplier
Non-monetary losses can be quantified by multiplying your overall economic losses by the appropriate multiplier. The factor could range from 1.5 times to 5 times. If the multiplier is 3, and your financial losses total $500,000, your non-economic losses would amount to $1.5 million ($500,000 x 3).
A Nevada automobile accident attorney and the insurance company must agree on the multiplier. If your case gets to trial, the jury will decide how much money you should receive.
Your Nevada personal injury attorney will emphasize how the accident has destroyed your personal life or your chances of health and happiness to obtain a larger multiplier.
Punitive damages are only an option when an accident is proven to have been brought on by very reckless or careless actions. To penalize the wrongdoer, the law allows for punitive damages that have nothing to do with the actual monetary expenditures you incurred.
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