If you have filed a personal injury case, the most prominent question on your mind must be about compensation. Though there is no exact formula to calculate the amount, there are various factors that affect the valuation. Lawyers keep those factors in mind when setting your expectations and working toward a negotiation.
Here, we list the eight factors that lawyers look into when evaluating the compensation amount in cases of personal injury.
Severity of injury
The amount of compensation increases with the extent and severity of your injury. Hard injuries such as broken bones or amputation increase the valuation compared to other injuries like sprains, shallow cuts, or wounds. Meanwhile, permanent injuries such as brain damage or loss of mobility that lead to loss of livelihood get hefty settlements.
Injuries that disrupt the victim’s day-to-day life and prevent them from doing basic everyday tasks such as walking, playing, and other regular activities, receive bigger settlement amounts. A person whose life doesn’t transform significantly after the injury will get a lesser amount in settlement.
Cost of treatment and recovery
Injuries which need extensive treatments to make recovery get more settlement. For example, a person needing reconstructive surgery to undo disfigurement gets compensated better than someone who can do with the services of a regular physician. Also, the post-recovery treatments that go on for a long time and require several hospital visits get a better settlement value.
The next big question — is the defendant really liable for your injury? The certainty of this claim plays a significant role in deciding the settlement amount. More the responsibility, bigger the settlement.
Mental and emotional trauma
The suffering of the injured isn’t limited to just physical pain. They also go through a lot of emotional and mental stress leading to issues like depression and anxiety. But a victim needs to prove their claim’s authenticity through a mental health professional to receive compensation.
People of public renown are often willing to pay a high settlement amount in personal injury cases to avoid bad publicity and defamation.
Cost of litigation
When the cost of the clerical and other formalities is too high, defendants try to settle by paying more to the victim rather than going to court and bearing all the expenses.
“De-risking” the case
When some cases go beyond a particular stage, the settlement value increases. These specific events can vary for every case, but there is no going back when it reaches that point, and the court may even pass a milestone decision. In such cases, the defendants try to settle by paying more when they see that the verdict may go in the plaintiff’s favor.
About The Wotitzky Law Firm
We are one of the oldest and the best law firms in Port Charlotte, Florida. Our lawyers understand your situation and will guide you at every step of the way. We will do all we can to help you get the compensation you are entitled to. We don’t charge for a personal injury or a wrongful death evaluation. We have a team of experienced personal injury lawyers in Port Charlotte, FL. You can call us at 941-639-2171 or fill our online contact form to know more.