Wondering, “how much is my car accident injury worth in Kentucky?” Kentucky car accident laws allow victims to pursue compensation for their injuries. Kentucky has no standard dollar amount for car accident claims or lawsuits. Instead, payouts reflect your injuries and the circumstances after the accident. As such, each case’s value will be different, and injuries will attract varying payouts.
In 2022, at least 28,773 people sustained injuries in traffic accidents in Kentucky. The number of traffic fatalities recorded in the same year was 762. Hire a car accident lawyer if you were injured or lost a loved one in a traffic accident stemming from someone else’s negligence. An aggressive lawyer will build a solid case and negotiate a settlement on your behalf. Call 513-400-0000 to set up a free consultation with our attorneys at Young, Reverman & Bolotin.
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Kentucky Car Accident Laws
Most states are either at fault or no-fault. Kentucky is a no-fault state, but specifically, a choice no-fault state. This means motorists can reject Personal Injury Protection (PIP) coverage, also called no-fault insurance.
One reason the no-fault system is favored in some states is because financial access to injured parties is quicker under this system. A no-fault system negates the need to prove and process liability.
On the flip side, a driver who rejects PIP waives their right to sue the at-fault driver in case of an accident unless the driver meets certain thresholds. Essentially, a driver cannot sue an at-fault driver unless his or her injuries cost over $1,000 in medical expenses or the driver suffers from;
- Weight-bearing bone fracture
- Permanent disfigurement
- Permanent injury
- Compressed, compound, or displaced fracture of any bone
- Permanent loss of a body function
While navigating accident laws can be tricky, navigating choice no-fault laws is even more challenging. As such, failing to have good legal representation can reduce your compensation. Still, you can appeal if you lose your car accident lawsuit or receive an unfavorable settlement.
Common Factors That Impact the Value of a Car Accident Injury Claim
Kentucky does not have a predetermined dollar amount to pay accident victims. The reason for this is that some accidents will leave victims with minor injuries, while others cause debilitating, life-changing injuries. These two are not comparable and, therefore, do not attract similar damages. So, each case is evaluated individually based on its circumstances, and compensation is arrived at from this angle.
Common factors that impact the value of a car accident claim include:
The Severity of Injuries
Car accident injuries leave victims with injuries ranging from mild to severe. The most common types of car accident injuries include broken bones and fractures, whiplash, strains and sprains, spinal cord injuries, and internal organ damage.
One of the main factors used in determining compensation is medical bills. Naturally, the more serious the injuries, the more expensive the medical care. This is one reason compensation for a sprain will be lower than that of a victim who suffered bone fractures. Similarly, compensation for a victim with bone fractures will be lower than for a victim who suffers a spinal cord injury.
Duration of Recovery
Recovery duration goes hand in hand with the extent of injuries. Severe injuries will take longer to heal and require more extensive treatment than mild injuries. Your payout should account for the duration of your recovery.
While some people recover quickly after an accident, people with serious injuries may require medical treatment for a long time. This treatment can include in-home nursing care, expensive medical aids and equipment, and psychological counseling. A successful car injury suit should account for future expenses and current ones.
Car accident injuries fall into the following categories in terms of recovery duration:
- Short-term Injuries: These injuries typically resolve within weeks or months. They attract lower payouts because they don’t require extensive or lengthy medical treatment and have a minimal impact on work life and quality of life.
- Long-Term Injuries: Long-term injuries require ongoing healthcare and rehabilitation. These injuries result in higher compensation because they involve immediate expenses, future costs, loss of wages, and lengthier pain and suffering.
- Permanent Injuries: This category covers injuries that drastically alter the lives and capabilities of the accident victims. These injuries attract the highest compensation to cater for medical bills, future treatment, lost wages, and future earning capacity.
Loss of Income
Aside from medical bills and the pain associated with car accident injuries, you can lose your ability to work, leading to a loss of income. The compensation premise is to attempt to restore you to what you were before the accident. So, if you were working and can no longer do so because of your injuries, you should receive compensation for your income loss.
The lost income is determined using your pay stub or income statements. Consequently, people earning more will get more compensation than people in professions earning less. Similarly, the longer the period someone is rendered unable to work matters. So, if you have two people on a similar salary, the one who will be out of work longer will be compensated more than someone who is away for a shorter duration.
Non-Economic Damages
While lost income and the extent of injuries are tangible and slightly easier to quantify, others, like pain and suffering compensation, are subjective. Pain and suffering, emotional injuries, loss of enjoyment, and other non-economic damages are harder to value.
Regardless, these are losses and should be compensated. A skilled car accident lawyer is a valuable asset in helping you value these intangible losses. The monetary value assigned to your non-economic damages will depend on how well you can prove them, your attorney negotiation skills, and the jury perception.
Other factors that influence your car accident claim value in Kentucky include:
- The quality of your legal representation
- Preexisting conditions
- Percentage of liability in the accident
- Quality and strength of your evidence.
How to Calculate the Value of a Car Accident Injury Claim in Kentucky
Car accident injury claims often include economic and non-economic damages. Economic damages include medical expenses, funeral costs, loss of wages, and future medical costs. These can be evidenced through documentation like invoices, receipts, and pay stubs. This is one element of calculating the value of a claim.
The second is non-economic damages, which are subjective. The two methods used to compute non-economic damages in Kentucky include the multiplier method and the per diem method.
The Multiplier Method
In the multiplier method, your economic losses are summed up and then multiplied by a number between 1.5 and 5. This multiplier depends on the severity of the injuries. So, the more serious the injuries, the higher the multiplier. For example, a car accident victim with permanent injuries will get the maximum multiplier of 5.
The sum of your actual economic losses gets multiplied by the multiplier to arrive at a figure for non-economic damages. This figure is then added to economic losses to get the total compensation amount.
Example: if your medical expenses come to $200,000, and a multiplier of 3 is applied, then:
$200,000 × 3 = $600,000
Your non-economic damages would be $600,000.
For the final figure, add economic to non-economic damages:
$200,000+$600,000= $800,000
This brings the total compensation to $800,000. Now, if you are found partly liable for your accident, the value of your liability will be deducted from this amount.
The Per Diem Method
The per diem method determines non-economic damages by assigning a daily amount to pain and suffering. This accrues until you recover from your injuries. This rate is subjective and is assigned by looking at several factors, including the extent of the injury and its impact on your day-to-day life. Attorneys can also use your daily wage.
This daily rate is then multiplied by the days you have suffered. So, if you have been out of work for 120 days and the daily amount is $500, your non-economic damages will be $60,000.
120 days × $500 = $60,000
This amount is then added to medical expenses, and your liability, if any, is deducted to arrive at a final compensation amount.
Can I Seek a Settlement Without a Lawyer?
It’s often not advised to file a claim without a lawyer because the car accident injury claim process in Kentucky is not always straightforward. Similarly, computing damages and gathering enough evidence to justify your claim requires technical know-how and experience. You can, however, learn how to settle a car accident claim without a lawyer before embarking on the process.
At Young, Reverman & Bolotin, we understand the emotional, physical, and financial consequences car accident victims have to face following an accident. Our lawyers offer the legal support and representation necessary to help you get the best settlement possible. Contact us at 513-400-0000 for a free consultation.
