Sunday, Jun 4, 2023

What Factors Determine a Personal Injury Settlement?

If you have been hurt or injured by the actions or inaction of someone else (often referred to as negligence), you could be left with massive medical bills that you are wondering how to pay. One of the options you have at your disposal is to file something called a personal injury lawsuit with the help of Chudleigh Law. This can help you recover financial compensation for your injuries. One of the most common questions that we hear about personal injury lawsuits is what the factors are that determine the size of the settlement. There are a few factors that you should keep in mind.

The Severity of the Injury

One of the biggest factors that will determine the size of the settlement is the severity of the injury. Without a doubt, this is the most important criteria. Remember that the point of the personal injury lawsuit is to provide you with resources that will help you pay for your medical care. In addition, the settlement will be used to help you replace lost wages if you are hurt and cannot work. Therefore, if the injury leaves you with severe complications that will impact you for the rest of your life, this is more likely to lead to a larger settlement amount. In addition, if the injury causes you to miss work, this will add to the size of the benefit. While nobody should wish to be injured, the worse the injury, the bigger the settlement.

The Resources of the Other Party

While this might not sound fair, the resources of the other party will also impact the size of your personal injury settlement. Even if you sustained a serious injury, you might not be able to recover any financial benefits if the other party is impoverished and simply cannot pay. Trying to file a lawsuit against someone who has no money is simply a waste of time. On the other hand, if the other party is a large corporation or is represented by an insurance company, this could open the door to a much larger settlement. This is an important factor in the size of any personal injury settlement.

The Experience of the Attorney

Finally, anyone who has been hurt and is interested in filing a personal injury lawsuit should also make sure they work with an experienced attorney. Like medical professionals, lawyers specialize in certain areas. One area of specialization is personal injury law. If you have been hurt, the value of your settlement is going to be determined in part by the knowledge and expertise of the attorney representing you. You need to be represented by a lawyer who understands how personal injury lawsuits work and how valuable certain injuries are. You must have an ally who will defend your rights and represent your best interests while also understanding what fair compensation is for a certain injury. If you have been injured due to the action or inaction of someone else, you could be entitled to financial compensation.