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9 Factors Influencing Personal Injury Settlement Value

— January 5, 2022

The way you handle your personal injury case with insurance companies will impact the amount of your settlement.

If you or a loved one has been injured due to someone else’s negligence, you should receive compensation for damages. However, getting your settlement in a personal injury case can sometimes be a challenge. 

Several factors can influence whether you get the settlement amount you truly deserve. Some of the main aspects to consider include the severity of injuries, cost of medical bills, and the insurance policy limit.

1. Severity of Injuries 

The severity of your injuries will directly affect the value of your personal injury settlement. Aside from the cost of medical treatments, insurance companies and a jury will review how permanent and debilitating your injuries are. 

In other words, if your injuries cause you to be disabled or cause disfigurement or scarring, your settlement claim will be higher than if your injuries were minor. 

2. Severity of Property Damage 

The damage to your property will also be considered when factoring in the value of your personal injury claims. For example, if you were in a car crash, any repairs needed by your car will be considered in the claim. The more severe the damages, the higher settlement you’ll receive.

3. Cost of Medical Bills 

One of the most important factors in a personal injury case is receiving proper medical care, which, as we all know, can be expensive. You should never agree to settle your personal injury case before you’ve received all necessary medical treatment for your injuries. Make sure you have a clear understanding of how much your medical bills are before you agree to a settlement amount.

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4. Insurance Policy Limits 

Some personal injury cases are settled through financial compensation with insurance companies. In this case, the overall policy limit for the liable party’s insurer will play a huge role in the value of your claim. 

If the defendant’s insurance policy doesn’t cover the plaintiff’s losses in totality, the victim may have to file a personal injury lawsuit to seek compensation. 

5. Shared Liability 

Some states use the pure comparative negligence system. This means that the victim can still receive compensation even if they are partially liable for the accident. However, the settlement amount will be reduced depending on their degree of liability. This affects the value of your personal injury claim. 

It’s best to have a lawyer working on your behalf to ensure that you get as much compensation as possible, even if you’re somewhat responsible for the accident. 

6. Where You File the Lawsuit 

The location where the accident took place can affect the value of your personal injury claim. Different counties or cities could place more value on the claim based on several factors such as pain and suffering. Some areas will present large settlements to victims in personal injury cases. This will increase the chances that you’ll receive high compensation even if you settle out of court.

7. Precedents in Similar Situations 

Courts in some states will use precedents to make the personal injury case proceedings more efficient. If the judge and jury have already heard a similar case, this can work to your advantage. Previous personal injury verdicts could help the courts decide how much your case is worth. 

It’s a good idea to contact a slip and fall attorney serving Atlanta if you’ve been hurt in an accident. A qualified and experienced lawyer can review all aspects of your case and counsel you concerning the steps you need to take to get the settlement you deserve for your injuries. 

8. How You Deal with Insurance Companies 

The way you handle your personal injury case with insurance companies will impact the amount of your settlement. You must refrain from giving recorded statements to claims adjusters. 

Don’t sign over your medical records and don’t talk to insurance companies without consulting with your lawyer. Insurance carriers could use your statements or medical records as a tactic to reduce your settlement amount.

9. Available Evidence

Personal injury cases are built on the evidence that proves the value of your claim and how responsible both parties are. If there is not enough evidence, you may have a hard time receiving fair compensation. 

Contact an Attorney for Legal Support

If you were involved in an accident, the best way to maximize your chances at a high settlement is by contacting a lawyer. A legal expert can help set a fair estimate of what amount you can expect to gain from the lawsuit.

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