Just Compensation is the Fair Market Value that the injured party receives in compensation of their injury.
The calculation of Just Compensation is specific to every case, but generally includes:
- Medical costs and property damage
- Future medical expenses and lost income
- Emotional distress from the injury
- Non-economic damages
Naturally, insurance companies are not inclined to pay what a plaintiff considers to be just compensation. This results in the plaintiff’s attorneys working with the insurance company’s lawyers to reach a number upon which both sides can settle.
If and when such an agreement cannot be reached, the lawsuit will head to trial.
