When someone suffers an injury due to another individual’s negligence, recovering compensation by filing a personal injury claim is often the best course of action. However, it is important to know that several factors can significantly impact the value of your personal injury claim. Understanding the various influential factors that can affect your personal injury claim can help you better anticipate the amount of compensation that you will be able to receive.
Severity of Injuries
The severity of your injuries is one of the most influential factors when it comes to a personal injury claim. The more severe your injuries are, the more extensive medical treatment that will be required and the greater impact that it will have on your life. As a result, you will likely receive higher compensation to account for these losses and expenses. Some of the most serious and costly injuries typically include traumatic brain injuries and spinal cord damage.
Share of Fault
Your share of fault in the accident can also impact the value of your personal injury claim. Depending on what state you reside in, if you are found partially at fault for the accident, your compensation may be reduced by your proportion of fault. A Van Nuys injury lawyer can help determine who is at fault for the accident and ensure that you recover the compensation that you deserve.
Property Damage
The extent of property damage that resulted from the accident can also affect the value of your personal injury claim. This particularly applies to motor vehicle accidents in which your personal property or vehicle may have been damaged from the impact of the accident. The more significant the property damage, the higher the overall value of your claim will likely be to account for the costs of repair or replacement.
Insurance Policy Limits
The insurance policy limits of the at-fault party can also significantly impact the value of your personal injury claim. Insurance companies are only required to pay up to the policy’s limits, regardless of any extenuating factors or additional damages.
Therefore, if your claim exceeds policy limits, you may have difficulty recovering the full amount of compensation that you are entitled to. As a result, you may have to consider filing a lawsuit against the at-fault party or seek coverage under your insurance policy, if applicable.
Evidence Available
The strength of the evidence you provide is one of the most crucial factors in determining the value of your personal injury claim. Strong evidence that includes important details such as medical records, police reports, witness statements, and photographs can help to establish the severity of your injuries and the impact that they have had and will have on your life. The more supporting evidence you can provide, the better, as it puts you and your lawyer in a better position to negotiate a higher settlement.
Time Limits
The final important factor that can affect the value of a personal injury claim is the time limit for filing. Every state has different laws, known as the statute of limitations, when it comes to filing a personal injury claim. Failure to file a claim within this time period can bar you from recovering compensation altogether. Therefore, you must be timely in your efforts to file a claim.
