Factors Affecting Your Settlement Value in a Personal Injury Case
Getting involved in a personal injury case is something that most people would try to avoid at all cost. However, when the worst happens, it is incredibly crucial that you are knowledgeable on how much money you are entitled to receive for your injury claim, especially if you are not at fault for the accident.
While no personal injury case is the same as the other, there are a few common issues that tend to either increase or cut the amount of compensation that one can expect to receive in an insurance settlement case or lawsuit after an injury.
To start, it’s important to know that the law always sides with the plaintiff, or the injured party, by holding the defendant, or the party that caused the personal injury liable and accountable to pay for the compensation. That amount, however, can only be determined once a set of factors have been established.
To determine the settlement value you will receive, it is first necessary to decide on the damages (your injuries and losses) available in your case. In general, the costs are categorized into three types: economic (financial losses attributable to the injury suffered), non-economic (emotional or psychological disturbances that can be attributed to the injury suffered), and punitive (damages designed to punish the negligent party).
While hiring an experienced personal injury must always be your first step to get an accurate settlement value, it would not cost a dime or two to know the system you’ll have to go through to achieve fair compensation. To summarize, here are the key takeaways of the infographic from The Brown Firm, which details the most critical factors that can affect your settlement value in a personal injury case:
- The gravity of the injury
- Medical treatment
- Emotional distress
To learn more about these factors, check out the full infographic below.
by Harry Brown