Three Things You Need to Know About Your Personal Injury Settlement

Written by Legal Videos on . Posted in Granite city personal injury attorney, Personal injury, Tort reform

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When people are involved in any kind of accident that results in a personal injury case, one of the biggest expectations that they have is that they will receive a settlement. Settlements vary on a case-by-case basis, but they are the most common resolution of a personal injury case. Here are three important things to know about a personal injury settlement.

1. The Role Liability Plays
Liability plays a huge role in the award of a settlement. Just because you say that the accident, and therefore your injury, was someone else’s fault does not necessarily mean you’re going to get a settlement. There must be some proof of negligence for a court to award a settlement. Additionally, there are varying degrees of liability as well. This means that if you hold any liability for the accident at all, this will affect the amount of the settlement you’re awarded.

2. What the Settlement Covers
It’s also important to know what exactly a settlement is going to cover. Generally, personal injury settlements are used to reimburse the injured person for the losses that he or she incurs as a result of the accident. Most clearly, this means the amount of medical expenses, the wages lost while the injured party is out of work due to the injury, and the amount of the losses the injured will see in the future. In addition to these direct monetary losses, settlements usually also cover pain and suffering.

3. How Pain and Suffering is Calculated
Pain and suffering is one of the most complicated aspects of a settlement. Since these are two very subjective things that are hard to prove, it’s difficult to put a dollar amount on them. This is where a multiplier comes in. If yours is one of the few cases that go to court, the judge will choose a number between one and five, which is referred to as the multiplier. The total amount of direct, calculable monetary losses is then multiplied by this number to determine the amount to be paid for pain and suffering. The amount is then added to the total settlement.

What do you think people need to know about a personal injury claims or settlements? Feel free to share with us in the comments section below. Read more articles like this. Read this website for more information.

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