How is the value of my MVA claim determined?
MVA claim values are determined by considering economic and non-economic damages, which include financial losses, pain, and suffering. For guidance in valuing your claim, contact Kantor MVA Injury Lawyers for a free consultation.
In Alberta, Canada, the value of a motor vehicle accident (MVA) claim is determined by considering several factors. An MVA claim typically involves seeking compensation for damages and losses sustained as a result of the accident. These damages can be categorized into two primary groups: economic damages and non-economic damages. Each case is unique, and the value of a claim depends on the specific circumstances of the accident, the injuries sustained, and the impact on the injured party's life. Consulting with an experienced personal injury lawyer, such as those at Kantor LLP Personal Injury Lawyers, is crucial to ensure that your claim is accurately valued and that you receive fair compensation.
1. Economic Damages: These damages are meant to compensate the injured party for financial losses incurred due to the accident. Economic damages can include:
a. Medical expenses: The cost of immediate and ongoing medical treatment, rehabilitation, and therapy required as a result of the injuries sustained in the accident.
b. Lost income: This includes wages or salary lost due to the injured party's inability to work during their recovery, as well as any potential future income loss if the injuries result in long-term or permanent disability.
c. Property damage: This includes the cost of repairing or replacing any property that was damaged in the accident, such as a vehicle or personal belongings.
d. Out-of-pocket expenses: Any additional costs incurred as a direct result of the accident, such as transportation to medical appointments or hiring in-home care.
2. Non-Economic Damages: These damages are meant to compensate the injured party for the pain, suffering, and emotional distress caused by the accident and their injuries. Non-economic damages can be more challenging to quantify than economic damages, as they do not have a fixed monetary value. Factors considered when determining non-economic damages may include:
a. Severity of the injuries: More severe injuries generally lead to higher non-economic damage awards due to the increased pain, suffering, and emotional distress they cause.
b. Impact on quality of life: The extent to which the injuries have affected the injured party's ability to enjoy their life, participate in hobbies, and maintain relationships can influence non-economic damages.
c. Age and health of the injured party: The age and pre-accident health of the injured party may play a role in determining non-economic damages, as younger and healthier individuals may have a longer period of suffering and potential complications.
In addition to the above factors, the specific laws and regulations in Alberta may also influence the value of an MVA claim. For example, Alberta has a cap on non-economic damages for minor injuries sustained in motor vehicle accidents, which may limit the amount of compensation available in some cases.
To accurately determine the value of your MVA claim, it is essential to work with a knowledgeable personal injury lawyer like those at Kantor LLP Personal Injury Lawyers. They can help you gather the necessary evidence, evaluate your case, and negotiate on your behalf to ensure that you receive the compensation you deserve.