How Much is My Personal Injury Claim Worth?
The value of a personal injury claim all depends on the type of accident you have suffered and the extent of your damages. This includes your physical, emotional and financial damages.
Your compensation settlement is made up of two elements – non-pecuniary damages and pecuniary damages.
Non-pecuniary damages intend to reflect your pain and suffering. This covers both your physical injuries and the psychological harm you have experienced because of the accident.
The Supreme Court of Canada accepts ‘that what has been lost is incapable of being replaced in any direct way’. In other words, it is impossible to turn back the clock and undo your injuries. A financial award is therefore the only way to compensate you.
Pecuniary damages intend to recuperate your financial losses. This can include different types of heads of loss, such as your past earnings, your future earnings, the cost of care and your out of pocket expenses.
If you are making an ICBC claim, you may also be entitled to medical care and wage loss benefits. These are known as Part 7 benefits.
Assessing the value of your claim
When you make a personal injury claim, it is our job as your personal injury lawyers to assess the value of your claim. We do this by –
- Waiting until the full extent of your injuries is known – that way, we do not under settle your claim
- Asking a medical expert to write a report on your condition and prognosis – so we know how your injuries are likely to impact your life in the future
- Assessing your case against similar cases which have already settled – this provides a useful guide as to how much the courts award for your injuries
- Calculating your actual financial losses – using evidence such as your wage slips and receipts
We ensure that you receive the correct amount of compensation for your accident and injuries. Typically, you will get much more compensation if you use a lawyer, rather than settling directly with an insurer (such as ICBC).
It is worth noting that compensation caps exist in certain situations. For example, if you are making an ICBC claim and you have what they consider to be a ‘minor injury’, you can only get $5,500 for your non-pecuniary damages.
How much compensation will I get?
So, how much compensation will you get? Unfortunately, it is impossible to answer this question. Every case is different. Ultimately, the more extensive your physical, emotional and financial injuries, the greater your compensation award will be.
To get a rough idea of how much you could receive, take a look at our recently settled cases. Or, contact us and speak to one of our personal injury lawyers. We can advise whether you are able to make a claim and how a compensation settlement works.