Victims involved in incidents also want to know the merit of their prospective claim before deciding if they have a viable case to pursue. It is tricky business to determine how much a claim is worth. Every single case is unique. Hill & Moin LLP When comparing the situation with similar cases can be helpful in offering you a figure for the ballpark, it also compares apples to oranges. For help you better determine your future compensation or penalty, it is best to contact a personal injury attorney. Serious injury attorneys have the courts and insurance firms expertise and practice and understand how they view cases. It is helpful for you to have an understanding of the factors that decide how much insurance you may get for your personal injury.
Present monetary statements
Current claims include real monetary injuries that you have suffered as a result of the accident. These are the easiest part to determine; just add up the figures and ensure future medical costs will be included. Those damages could include:
Present and potential medical costs include doctor’s visits, physical therapy etc.
Damage to property, such as if you were in a car accident
Missing job income
Suffering and Pain
In any serious incident pain and suffering are inevitable. You may be experiencing physical pain, emotional anguish, intense stress and lifestyle loss. It is much more difficult to get a price tag on. We can not quantify pain and suffering in monetary terms. Since the only way to compensate the victim for their suffering is through money, however, insurance companies have developed formulas to help them determine the amount that each case is worth. To estimate the potential value of the case, many companies are using a computer system called Colossus, or a similar programme. Such services examine all aspects of the case, including monetary damages, extent of injuries, and jurisdiction where the prospective litigation will take place to assess the nature of what the compensation or settlement could be.
Use a multiplier is one popular way to measure pain and suffering. The insurer will take the real monetary loss and, depending on the extent of the incident, multiply it by anywhere between 1.5 and 5 to create a pain and suffering figure. This number may be multiplied by 10 in extreme situations, or if an insurance firm gets anxious when a trial looms. On a case-by – case basis, those numbers are all negotiable. Your personal injury attorney is once again your best advisor for what the final figure could be.
Your case is good
If you have an apparently open-and-shut argument with strong evidence and personal credibility, you might expect someone with a poorer case to receive a higher reward or compromise. Your personal injury lawyer should be frank with you regarding the strength of your case; if you have a “difficult” case, you will end up with little or nothing in court and you may be more likely to settle for less out of court.
Another factor helping to decide the case ‘s final monetary result is that you share any of the responsibility for the incident. And if an incident is partially your fault, it doesn’t mean that you’re not entitled to reimbursement for the other party’s percentage of blame. Courts give each defendant of the suit a percentage of blame and will minimize the final award by the percentage of blame the plaintiff receives for the incident. Make sure to speak with your lawyer on this crucial issue, because it may influence how you want to go to court or settle.