What Factors Will Impact My Personal Injury Claim Payout?

What Factors Will Impact My Personal Injury Claim Payout?

Scott Dylan Westerlund
Scott Dylan Westerlund
 | 

Between the ages of one and 44, Americans are more likely to pass away from violence or injuries than any other cause. That means at least one American suffers a fatal accident about every three minutes.

If you’ve recently been involved in an accident that wasn’t your fault, then you’re likely wondering how you’re supposed to cope with your financial losses. Thankfully, our justice system is designed to help injured individuals like you. By seeking out a personal injury claim, you can claim a settlement amount that helps restore your finances.

There are a few factors that will impact your personal injury compensation award, though. Learn about the top five things that could alter your personal injury claim payout below.

1. The Severity of Your Injury

The number one factor that will influence the amount of compensation you collect is the severity of your injury. This single factor often determines whether you should file a lawsuit or not. After all, it wouldn’t be worth anyone’s time or money to seek out a claim against someone for minor bruises that didn’t have any significant impact on your life.

A severe injury like a TBI or broken leg, though, carries a higher value. Often, these types of injuries come with losses like lost wages and medical bills. In general, you’ll receive a higher personal injury claim payout for more severe injuries.

2. Your Level of Fault

Like we stated above, you’re likely eligible for compensation if you’re involved in an accident that was caused by someone else’s negligence. It does make a difference, though, if your own negligence played a role in the accident.

For example, what if you and the other party were equally at fault for the accident? If a courtroom determines that you’re partially at fault, then you might only be eligible for partial compensation.

Arguing that the victim was at fault is a common defense strategy during personal injury claims. With that in mind, it’s important to consider how much you were at fault before pursuing a lawsuit.

3. How Negligent the Other Party Was

Just as your own negligence plays a role in how much compensation you can receive, so does the other party’s negligence, too. If it’s clear that the other party was fully responsible for your accident, then they’ll likely be held fully liable in court. That means they’ll need to fully financially compensate you for all your losses.

What if the other party’s negligence or recklessness was extreme, though? This type of factor could significantly impact your overall compensation award. In extreme situations, courtrooms often levy punitive damages against the responsible party. These damages are meant to financially punish the individual (or entity) in order to prevent them from acting in a similar way in the future.

If the other party was really reckless, then your settlement amount might increase.

4. The Impact of the Injury on Your Life

How much has your injury impacted your life? Your answer could be a determining factor in how much compensation you can seek out.

If your injury has barely impacted your life, then you’re likely to receive a lower settlement. If your injury has prevented you from working, altered your mental state, or caused emotional distress, then your personal injury claim payout will be higher. While it’s difficult to place a monetary value on non-economic damages like destroyed careers, these factors will inevitably increase your overall compensation award.

5. Newsworthiness

Finally, the newsworthiness of your accident could play a role in how much compensation you get, too. This is especially true when the liable party has an incentive to keep up a clean and good public image. That entity might decide to agree to a higher settlement amount to avoid bad publicity and negative headlines.

Are You Ready to Claim Your Personal Injury Compensation?

All of the above factors will have an impact on your final personal injury compensation amount. The goal of a personal injury claim is to help the injured party get full monetary reimbursement for every loss related to the accident. Despite that, multiple factors could influence your final settlement amount.

Are you ready to pursue your personal injury claim payout? The first step in securing your entitled compensation is hiring a qualified lawyer to represent your case. Navigate over to our lawyer search to find an attorney in your area now.

 

This article is intended to convey generally useful information only and does not constitute legal advice. Any opinions expressed are solely those of the author, not LawChamps.

 

 


 
Scott Dylan Westerlund

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