Factors That May Affect the Value of Your Personal Injury Settlement

Any person who is injured by the negligent acts of another should be able to recover compensation for his loss. This includes coverage for potential medical bills, lost income, property damage expenses, and damages caused by emotional pain and suffering. However, there are several factors that can affect the total value of a California personal injury claim. To maximize your compensation, we’ve outlined some of the factors you should consider in relation to your claim.

1. severity of injuries

While a variety of formulas are used to determine the value of a personal injury claim, many of them revolve around the nature and extent of the injuries and the amount of medical treatment needed to recover from them, with most are more serious. Injuries (such as a spinal cord injury) are more likely to be compensated than temporary injuries (such as a broken arm).

2. property damage expenses

If an incident has resulted in injury as well as property damage, these should also be taken into account. While we usually talk about damage to property or vehicles involved in an accident, the cost of damage to phones, computers, valuables like jewelry and sunglasses, and even pets (yes, Pets are considered property in these situations). This can affect the total compensation you receive in a claim.

3. insurance limits

Insurance companies will not pay compensation in excess of what the policy allows. For example, if a person has a $250,000 auto accident liability insurance policy but the injury costs $400,000, this will leave a significant gap between the amount covered by the insurer and the total cost to the victim. , In these situations, it may be necessary to file a personal injury lawsuit against the at-fault party to recover more compensation.

4. shared blame

It may happen that the victim of the injuries is partly involved in their causes. Additionally, it is not unusual for more than one party to be at fault in these situations. This is why the state of California operates under a system of comparative negligence. This means that individuals can still recover compensation for their claim, as long as it proportionately reflects the fault of each party involved. Therefore, if your injuries are found to be 40% your fault, you will only receive 60% of the full amount for which you filed your claim.



Source link

Leave a Comment