The hands are arguably some of the most important parts of our body: used for everything from typing on a keyboard to picking up a baby, holding tools, or turning pages in a book. So it’s not surprising that many people suffer devastating consequences if their hands are injured due to someone else’s negligence or recklessness. It can leave them unable to do tasks as simple as brushing their teeth.
But regardless of the severity of an individual’s hand injury, there will always be questions about how much monetary compensation should be awarded. If you’re wondering how much your hand injury is worth, continue reading this guide.
Call the team at Injury.io to get started on your case.
Estimating Medical Expenses
When estimating the value of a hand injury, one must consider all medical expenses associated with treatment. This includes everything from doctor visits and hospital stays to medication costs, physical therapy, and other out-of-pocket costs. In some cases, there may also be ongoing or future care needed for the injury that needs to be considered. All these elements should be factored in when determining how much an injured party is owed for their suffering.
Lost Wages and Opportunity Costs
When estimating how much your hand injury claim is worth, it is important to consider the costs related to lost wages and opportunity costs. Lost wages refer to the income a person loses due to their injury, whether it be time away from work or reduced hours. Opportunity costs are any potential earning opportunities that were missed due to an injury.
Lost wages can significantly impact the overall value of damages in a personal injury case since they represent actual financial losses incurred by the injured party. Attorneys and insurance companies must consider past and future wage loss when evaluating a claim. Additionally, if there is a permanent disability resulting from an injury, long-term compensation may need to be taken into account. Experts use factors such as age, occupation, education level, and more to determine this amount.
Pain and Suffering Damages
Pain and suffering damages are a form of compensation awarded to an injured person who has experienced mental or emotional distress due to their injury. These damages can be awarded in addition to any economic losses. In determining the value of pain and suffering damages, several factors must be considered:
- The severity of the injury
- The duration of the pain
- The impact on quality of life
- Any psychological trauma caused by the incident
These factors will help determine how much compensation should be awarded for pain and suffering associated with a hand injury. However, it is important to note that these damage awards do not provide complete reimbursement for all physical and emotional costs suffered from an accident; rather, they are meant to compensate the injured party for non-economic losses associated with the incident.
Determining a Settlement Amount
When it comes to determining a settlement amount for a hand injury, several factors need to be taken into consideration. First, the severity of the injury must be examined and evaluated. This includes any long-term effects or impairments that may result from the incident. The medical expenses associated with treating the injury should also be accounted for in order to determine an appropriate value for damages due.
The individual’s age, occupation, and lifestyle prior to the incident will also play a role in determining how much they can expect to receive in compensation. For example, someone who was unable to work as a result of their hand injury might be entitled to lost wages as well as non-economic damages such as pain and suffering. Ultimately, these types of settlements depend on the unique circumstances surrounding each case and require careful negotiation between both parties involved.
Contact Injury.io Today
Suffering a hand injury can have significant physical and emotional consequences that can last a lifetime. The trauma can be devastating, and the effects can be far-reaching. Moreover, the cost of treating a serious hand injury can be enormous, including medical bills and loss of income. However, the true cost of a hand injury goes beyond the financial burden. It affects the individual, their loved ones, and their life as a whole.
It’s important to remember that no amount of money can truly compensate for the emotional and physical toll of a hand injury. Therefore, it’s crucial to work with a personal injury lawyer who understands the complex nature of these cases and can help you obtain the compensation you deserve. A lawyer can also ensure that your rights are protected and that you receive the necessary medical treatment to help you recover from your injury.
If you need help getting compensation for your hand injury, you can rely on Injury.io. Call today to book your free case review.
Emily Wilson is a writer who graduated with a bachelor’s degree in English studies from Ball State University in 2021. Since graduating, Emily has started her career in content writing, and she hopes to continue helping her audience learn and grow from her works.