Understanding Catastrophic Injury Claims: What Makes Them High-Value?

Catastrophic Injury

Regarding personal injury claims, catastrophic injuries stand out for their high-value settlements. But what exactly makes these types of claims so valuable?

  1. The Severity of the Injury: One of the primary reasons why catastrophic injury claims are high in value is the severity of the injuries sustained by the victim. Catastrophic injuries typically involve long-term or permanent disabilities that significantly impact the victim's quality of life. These injuries can include amputations, severe burns, traumatic brain injuries, spinal cord injuries, and other incapacitating ailments. The extensive medical treatment, ongoing care, rehabilitation, and assistive devices required for these injuries can result in substantial financial losses for the victim, which must be factored into the compensation sought.

  2. Loss of Income and Future Earning Capacity: These injuries can include amputations, severe burns, traumatic brain injuries, spinal cord injuries, and other incapacitating ailments. In addition to current lost wages, victims may also experience a decrease in future earning capacity due to their permanent disability. This potential loss of income greatly influences the victim's capacity to maintain themselves and their family. Thus, it plays a big part in determining how much a catastrophic injury claim is worth.

  3. Pain and Suffering: Victims of catastrophic injuries are also entitled to non-economic damages for pain and suffering in addition to economic damages like medical costs and lost wages. When evaluating the whole worth of a claim, victims' physical suffering, psychological discomfort, mental agony, and diminished quality of life as a result of their catastrophic injuries are taken into account. These intangible losses can be challenging to quantify but are essential in seeking fair compensation for the victim's suffering.

  4. Long-Term Care Costs: Catastrophic injuries often require lifelong care and assistance for victims who may no longer be able to perform daily tasks independently. Long-term care can come at a hefty price, which includes paying for home health aides, medical equipment like wheelchairs or prostheses, making living spaces more accessible, and continuing therapy or treatments. These expenses constitute a major financial burden on the victim and their family. Thus, they must be considered when determining the value of a catastrophic injury claim.

  5. Legal Representation: Navigating a catastrophic injury claim can be complex due to the high stakes involved and insurance companies' reluctance to pay out large settlements. Victims of catastrophic injuries need to get legal counsel from knowledgeable personal injury lawyers who focus on these kinds of claims. An experienced lawyer can assist in gathering evidence, negotiating on the victim's behalf with insurance companies, accurately calculating damages, and, if needed, advocating for just recompense through litigation.

Fighting for Catastrophic Injury Victims in Artesia, Carlsbad, Hobbs, Jal, and Lovington

At Simon Perdue Law, we understand the tremendous obstacles people who have experienced catastrophic injuries in Albuquerque, New Mexico must overcome. Our hardworking staff is committed to providing the best legal knowledge to ensure your rights are protected and you get the money you are due. If you or a loved one has been affected by a catastrophic injury, we invite you for a comprehensive evaluation of your case. Let us be your advocates in this challenging time as we strive to secure the justice and support you need to move forward. Contact us today at (505) 588-5962 to get started.