In Virginia, injured accident victims are able to pursue damages against the party or parties who caused the accident for any losses they sustain as a result. There are two different types of damages, economic and noneconomic.
Economic damages are quantifiable damages. This means there is an actual dollar amount that determines their value. Medical expenses are one example of economic damages. When all the medical costs for treating the victim’s injuries are added up, that is the total amount the at-fault party is responsible for. The same goes for loss of income the victim may have suffered while they were recovering from their injuries and unable to work. The at-fault party would be liable for the total amount of lost wages the victim had.
Victims can also pursue damages for pain and suffering their injuries caused. But these types of damages are not quantifiable and they are considered noneconomic damages, meaning there are no actual dollar amounts available to determine what financial compensation the victim is due.
There are three different ways to calculate pain and suffering to determine the monetary value. One method is called the multiplier method. The total amount of economic damages are multiplied by a number from one to five. The multiplier is determined by several factors, including the severity of the victim’s injuries and the impact the injuries have had on the victim’s life.
The second method that can be used is called the per diem (per day) method. The pain and suffering is assigned a dollar amount. That amount is then multiplied by the number of days it will take the victim to recover. This daily rate is often the same rate as the day rate of what the victim earns at their job.
Although these two methods were once the main ways to calculate pain and suffering, many insurance companies and personal injury attorneys utilize computer software which calculates the amount using different factors that are entered into the program.
Contact a Virginia Accident Attorney
If you have been injured in a car accident, contact a skilled Virginia personal injury attorney to find out what legal options you may have. The legal team at Shapiro & Appleton have successfully represented many clients who have been injured because of a negligent driver and are available to meet and discuss the details of your case and how we can help. Call 757-663-5031 to schedule a free case evaluation with one of our skilled attorneys.