What Is The Maximum Amount Of Compensation In A Personal Injury Case?

The laws of your state determine the maximum amount of compensation you can receive in a personal injury case. Generally speaking, the more serious the injuries sustained, the higher your settlement will be. This especially applies if you had a substantial financial loss because of it.

However, the exact number will depend on several factors that we will discuss. With that being said; you should not take maximum amount of compensation claims for personal injuries lightly. It’s not only about money, and it’s also about restoring your quality of life; and returning you to normalcy as quickly as possible.

What Factors Determine The Compensation Amount?

While these may change from case to case, several factors can affect the amount you receive in a personal injury case. These comprise the severity of your injuries, your medical bills, lost wages, pain and suffering; how long it takes to recover fully, and other factors.

No one knows how the compensation will be because other factors influence it. However, you can raise your odds of getting the maximum compensation possible; by contacting one of the best personal injury lawyers to address your case.

5 Factors That Can Increase Or Decrease The Maximum Amount Of Compensation in a Personal Injury Case

The Race And Gender Of The Injured Party

In most cases, white males receive higher settlements than women. The outdated belief supports this argument that women stop working sooner than men to raise their own families. In addition, it is said that 43.6% of forensic economists use race and gender when projecting lost wages.

The Age Of The Injured Party

In some cases, the injured person’s age might affect the maximum compensation they receive for injuries. Younger people are just starting their lives, working to make ends meet while catering to their young families, and older folk are more established and might be retiring.

When younger people suffer injury, they become unable to continue to work and support their families. As a result, some claim that younger people usually get more compensation benefits than older people.

The Severity Of The Injuries

The more severe the injuries sustained, the more increased the compensation amount. It’s important to note that they can reduce the compensation amount, if the medical evidence shows that; the injuries could have been lessened or avoided in severity.

For example, it may be possible to negotiate a settlement where you and the defendant agree that the accident was not 100% the victim’s fault.

The Cost Of Medical Care

The higher your medical bills are, the higher your settlement amount. If the victim needs surgery, physical therapy, and the like, then the compensation amount will be higher. The cost of medication only, for example, will not be relatively as high.

The Value Of Lost Wages

You can determine the value of lost wages by the number of paychecks you have lost due to the accident. Accidents usually come with recovery time, and you might be unable to work during this time.

This is a bit different from lost earnings potential, and lost earnings potential covers the wages you would have been able to obtain had the accident never occurred.

How To Get A Quote For Your Personal Injury Case?

After an accident, you may experience injuries that require medical care, pain management, and surgery. In addition, you may need to cover long-term care, rehabilitation, disability, and more.

If you’ve experienced a severe car accident; you may be entitled to significant compensation. When dealing with a personal injury claim; it’s essential to work with an attorney who has experience in handling these cases. Here’s what you can do.

• Make a Claim and File Suit with Your Insurance Company: If you have a car accident, then the foremost thing you should do is talk to your insurance company. Explain the circumstances of the accident and ask them to cover the costs of your medical care.
• Contact an Accident Reconstructionist: If your accident involved a car, an accident reconstructionist might be able to help you figure out who was at fault. You can also hire this person to make a video of your accident and post it online.
• If You’ve Been Injured in a Workplace Casualty: You may be entitled to significant compensation. Although it may be a long and complicated process, you can file a claim with your employer’s insurance company. In this case, a personal injury lawyer is a better option.

Determine The Maximum Amount Of Compensation You’re Entitled To

If you’ve been highly injured in a car accident, you may be entitled to a large settlement. So the first thing you need to do is assess your case and see what you’re entitled to.

• First, figure out the amount you’ve lost due to your injuries.
• Add up the medical bills and related expenses, such as lost wages.
• Then, add any money you could have received from receiving Social Security disability benefits.

The result will let you know how much compensation you may receive.

Find An Attorneys To Take Your Case For Maximum Amount Of Compensation

Now that you have a better idea of what you’re worth; it’s time to find an attorney willing to take your case at that price. The best way to do this is to ask people you know for recommendations. You can also go to the internet and search for reviews of personal injury law firms.

When looking for an attorney, you should consider several essential things.

• First, you want to make sure they have experience in handling similar cases like yours.
• Second, you want to ensure the attorney has a history of winning verdicts; especially compared to other law firms in your area.
• Third, you want to make sure they have a good track record of winning cases on a contingency fee basis. This means you don’t have to pay them anything until a settlement or verdict is received.

Negotiate Until You Reach The Bottom Line

Don’t give up if you have been injured in a car accident; and your case is worth less than expected. This is when you need to start negotiating with your attorney. Also, there are a few different methods you can use.

One of them is to ask the attorney to tell you what he would charge; if no one were getting a settlement. Now, don’t take this as an absolute. Instead, take it as a ballpark.

Then, use this number as a starting point to negotiate with your attorney. Tell him that you are willing to accept a lower amount if he agrees to negotiate with the other side. Also, take the case to trial. You can also present your case during negotiations so your attorney can better assess it.

Conclusion

During a car accident, a loss of quality of life can be significant for you and your family. You could experience physical pain, medical bills, and lost income due to your injuries. In addition, you may need to undergo surgery, physical therapy, or take time off from work.

It’s essential to take these matters seriously; and find a personal injury attorney willing to take your case at a lower price. This way, you can obtain the maximum amount of compensation in a personal injury case you deserve and make sure you are financially stable and healthy again.

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