The article “Factors That Will Affect Your Personal Injury Settlement” is written by Naphtal
The law stipulates that anyone involved in a personal injury case has the right to seek compensation for any financial losses, medical bills, and other damages incurred in any personal injury case.
The settlement amount is usually calculated on a case-by-case basis, and the compensation amount awarded is different for every claim.
Even when it seems like two people have suffered similar injuries, the settlement amount could still be drastically different. This is because certain factors can affect the amount of compensation awarded in a personal injury case.
Therefore, your primary objective as the victim is to understand and identify these factors and determine how to maximize your settlement amount. Remember that you may need a lot of money to get through your physical and emotional healing period.
This article discusses some of the most common factors that will affect your personal injury settlement amount. Read on to learn more.
1) The Severity of Your Injuries
The severity of your injuries often determines how much compensation is awarded for a personal injury case.
If your injuries are life-threatening or permanent, your settlement amount may be significantly higher than someone who only suffered minor injuries.
Typically, injuries such as traumatic brain injuries, spinal cord injuries, amputations, limb loss, and broken bones are considered severe and are often given higher compensation than those involving soft tissue damage.
However, you are responsible for proving that the accused caused the injury. This can be done with medical records and photographs of your injuries. That is why it is essential to seek medical attention as soon as possible after an accident.
2) Certainty of Liability
Another factor affecting your personal injury settlement is the certainty of liability, which refers to the likelihood that the accused party caused your injury.
If you can provide irrefutable evidence that the other party was solely responsible for your injuries and you were not at fault, this will increase your chances of getting a higher settlement amount.
To do this, you must collect evidence such as police reports, medical records, witness statements, and photographs taken at the accident scene.
You must also work with an experienced personal injury attorney to prove that the other party was fully responsible for the accident.
Remember that your settlement amount will depend on the amount of evidence you can provide to prove that the other party is liable for your injuries.
If you are found to be partially at fault for the accident, it could reduce your settlement amount.
3) Cost of Medical Treatment
The cost of medical treatment is another crucial factor that will affect your personal injury settlement.
This includes all the past and future costs associated with treating your injuries, such as doctor visits, diagnostic tests, medications, surgeries, physical therapy, and other medical expenses.
You must also prove that the medical treatment is necessary due to the accident and that it was not pre-existing or caused by some other factor.
Your attorney can help you gather evidence such as invoices, bills, and receipts related to your injury-related medical treatments, to get a higher settlement amount.
4) Loss of Income and Earning Capacity
If you have suffered an injury that has resulted in a permanent disability, this could also affect your personal injury settlement amount.
This is because the court will consider the amount of money you would have earned if you had not been injured and compare it to the income you now receive. This includes your wages and any potential earning capacity you may have lost due to the injury.
Your attorney can help you calculate these figures and ensure they are included in your settlement amount.
5) The Extent of Your Financial Losses
Your financial losses are also considered when calculating the settlement amount. You can claim compensation for any medical bills you have incurred, including lost wages and other out-of-pocket expenses related to the injury.
One of the best ways to get the maximum out of your personal injury claim is to keep track of all your expenses related to the accident, such as medical bills, out-of-pocket expenses, and receipts of any goods or services you purchased due to your injury.
Your losses can also include non-monetary damages such as pain and suffering, emotional distress, loss of consortium (loss of companionship), and other intangible losses.
In some cases, punitive damages may also be awarded to punish the accused for their negligence.
6) Your Age and Health Before the Accident
Your age and pre-accident health will also play into your personal injury settlement. Injuries that occur when you’re young can have a much greater impact on your life than injuries that occur later in life.
Typically, the amount of compensation you receive will take into account both your age and pre-accident health. If your injuries have caused you to suffer a permanent disability or incur large medical expenses, this will be factored into the settlement amount.
These are some of the factors that can affect your personal injury settlement amount. It’s important to remember that each case is unique, and the settlement amount may vary depending on the circumstances of each case.
7) Duration of Your Recovery Process
Lastly, the duration of your recovery process may also affect your personal injury settlement amount. You may be entitled to more compensation if it takes you a long time to fully recover from your injuries.
Be sure to document all of your medical appointments and treatments because it will help your attorney evaluate the amount of time it takes for you to recover. Your lawyer can also use this information to negotiate a higher settlement amount on your behalf.
Many factors are considered when calculating a personal injury settlement. These include the certainty of liability, cost of medical treatment, loss of income and earning capacity, the extent of financial losses, your age and health prior to the accident, and more.
By understanding these factors, you can maximize your compensation from a personal injury claim and get the justice you deserve.
An experienced personal injury attorney will help ensure that all of these factors are taken into consideration when calculating your settlement amount. They will also help guide you through the legal process and fighting for your rights.