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Personal Injury Settlement Factors Explained

December 20, 2019
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How do you put a price tag on your pain and suffering? If you’ve been injured, you know that no amount of money can erase what you’ve experienced or undo the damage to your long term happiness and wellbeing. Still, it is the hope of the legal system that financial compensation can  help you cope a little better with your new reality.

When settling a personal injury case out of court, you and your lawyer will work with the liable party and their insurance company (if applicable) to settle on the compensation you are owed. Let’s explore some of the factors that are taken into consideration:

Your Damages

  • Medical bills: Any medicals relating directly or indirectly to your injury should be taken into consideration for recompensation.
  • Lost income: Did you take time off for medical appointments? Was your injury so severe that you were unable to go to work for a certain period of time? Have you had to change careers because you are no longer physically capable of doing the job you did before you were injured? The income lost due to any of these scenarios should be considered in your personal injury settlement. 
  • Physical pain/suffering: What physical pain and suffering have you endured due to your injury? How much will you continue to endure in the future? This should be considered.
  • Emotional pain/suffering: Accidents can cause psychological trauma leading to depression and anxiety. Generally, to prove this, you will need to provide evidence from a mental health professional.
  • Disability and/or disfigurement: Some injuries change our lives completely. Perhaps you suffered a traumatic brain injury that caused memory loss. Or maybe you survived burns to your face that left extensive scarring. Issues like these that negatively impact your life should certainly be considered.
  • Certainty of Liability

How strong would your argument be if the case were litigated? If the other party is not sure you could prove their liability in court, they may be less willing to settle for a large amount. Your case is stronger, and liability more certain, if you have credible witnesses, documentation, and other evidence.

Potential Costs of Litigation

The costs of going to trial add up, especially for defendants. If they think it’s likely they’ll have to pay damages either way, they may be willing to pay more in a settlement to avoid needing to go to court, and thereby save themselves money in the long run. 

Bad Publicity

Out of court settlements are often higher when the defendant (whether it’s an individual or business) wants to avoid the bad publicity associated with going to court. They may be interested in sidestepping the embarrassment of having the details of their negligence becoming a matter of public record.

Next Steps: Personal Injury Representation

To get the best results from a personal injury settlement, it’s important to have an experienced lawyer by your side to protect your interests. Need help with your case? Contact Goss Law today. 

Our firm offers the personalized attention of a small firm, where our team and clients interact on a first-name basis, with the vast experience and knowledge base you usually only find in big firms. We offer new clients a free consultation. Give us a call at (305) 598-1344.

 

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