The Factors That Affect the Settlement Value of Your Personal Injury Claim

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No one believes they can be seriously injured in an accident. But the painful truth is that it can happen to anyone at any time — even the most careful people can find themselves involved in an accident through no fault of their own.

If you have been injured in an accident, you may be wondering how much your personal injury claim is worth. Knowing the value of your claim can help you make informed decisions about whether to settle your case or take it to trial.

Of course, you can seek help from your auto accident lawyer to better understand how much your claim may be worth. But in the meantime, here are some key factors that can affect the settlement you receive from your personal injury claim:

Factor #1 The Severity of Your Injuries

Injury Claim

The more severe your injuries are, the greater the value of your personal injury claim will be. This is because you will likely incur higher medical bills and lose more income due to your injuries. That’s why it’s essential to seek medical attention as soon as possible after your accident — not only for your health but also to document the severity of your injuries.

Moreover, the more severe your injuries are, the more significant their impact on your quality of life. This can include pain and suffering, loss of enjoyment of life, and even post-traumatic stress disorder. All of these factors can increase the value of your personal injury claim.

Factor #2 The Amount of Medical Expenses That You Incur

Medical expenses can quickly add up after an accident. If you have incurred a significant amount of medical costs, this will increase the value of your personal injury claim. This means it is crucial to keep track of all the medical expenses you incur due to your accident, including things like ambulance fees, hospital bills, and prescription medication costs.

Aside from the actual costs of your medical treatment, you may also be entitled to compensation for future medical expenses that are reasonably necessary to treat your injuries. This could mean that you will need ongoing medical treatment or even require surgery in the future.

Factor #3 The Amount of Lost Income That You Suffer

If your injuries prevent you from working, you may be entitled to compensation for lost wages. The amount of lost income that you suffer will also affect the value of your personal injury claim because it is a direct financial loss.

Not only will you be able to recover your lost wages, but you may also be entitled to compensation for future lost earnings. This could be the case if your injuries are so severe that you cannot return to work or if you can only return to work in a limited capacity.

Factor #4 The Impact That Your Injuries Have on Your Life

The physical, emotional, and mental impact of your injuries will also be taken into account when evaluating your personal injury claim. If your injuries have had a significant impact on your life, this will increase the value of your claim.

This is important because the impact of your injuries goes beyond the physical pain and suffering you experience. Your injuries can also lead to emotional trauma, anxiety, depression, and even post-traumatic stress disorder. If you have suffered these psychological injuries, you should seek treatment from a mental health professional.

Factor #5 The Liability of the Other Party

If the other party is clearly at fault for the accident, this will increase the value of your personal injury claim. Proving the other party’s negligence is essential to recovering compensation for your injuries, so it’s crucial to have the accident investigated by a qualified lawyer.

There are a few different ways to prove negligence, but one of the most common is to show that the other party breached their duty of care. This means that they failed to take reasonable steps to prevent the accident from happening or failed to take reasonable steps to protect you from harm.

For example, if the other party were speeding at the time of the accident, this would be considered a breach of their duty of care. Or, if the other party were under the influence of drugs or alcohol, this would also be considered a breach of their duty of care. By proving this, you can increase the value of your claim.

These are just a few factors that will affect the settlement value of your personal injury claim. So, if you’re still hesitant about filing for a personal injury claim after being in an accident, keep these factors in mind. Your lawyer will also be able to give you a more accurate estimate of the settlement value of your claim based on the specific facts of your case.

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