How Much Compensation Will I Get for an ICBC Claim?
It is difficult to say exactly how much compensation you will get for an ICBC claim, as it will depend entirely on the extent of your pain and suffering, and the amount of money you have lost as a result of the accident.
Calculating compensation in ICBC claims
If you make an ICBC claim and you are awarded personal injury compensation, your settlement will be split into two parts – your non-pecuniary damages and your pecuniary damages.
Non-pecuniary damages are intended to reflect the amount of pain and suffering you have experienced because of the accident, and the way in which your quality of life has been adversely affected. This means the amount you are awarded will depend entirely on you and the injuries you have sustained – something which might not be fully apparent until your lawyer has investigated your case in detail.
That is why you should not settle an ICBC claim too early, and certainly not until you know the full extent of your injuries.
Otherwise, you may be awarded compensation that is suitable for a short-lived tissue injury, when in fact you have a chronic condition that continues for years. However, once you have agreed to a sum of compensation and the claim is concluded, you cannot go back. Therefore you must ensure you get the correct award the first time around.
As long as you have a specialist personal injury lawyer acting for you, you can rest assured that your non-pecuniary damages will be accurately assessed. Your lawyer will consider previous cases which are similar to yours in terms of injuries and will also look at the legal guidelines in place. Together, these will allow your lawyer to recommend the amount of non-pecuniary damages you should be awarded.
If ICBC tries to argue otherwise, your personal injury lawyer will have the knowledge and expertise to negotiate on your behalf. This can be difficult to do by yourself, which is another reason why having an ICBC claims lawyer is so important. Nevertheless, it is important to note that your award for non-pecuniary damages will not exceed the upper limit cap. This increases annually with inflation and is currently set at $367,000.
Pecuniary damages are intended to reflect the financial losses you have incurred as a result of the accident. The nature of these losses can be many and varied, including past and future loss of earnings, the cost of care, your out-of-pocket expenses and the cost of medical equipment. Your ICBC claims lawyer will need to calculate your losses, so it is helpful to keep your receipts and a written record of all the money you have spent or lost because of the accident.
ICBC claims lawyer
If you would like a personal injury lawyer to pursue an ICBC claim on your behalf, contact John Mickelson Law Corporation or call us at 604 684 0040.Go back to Blog