When you get hurt in an accident, an insurance company might argue with you and your lawyer about how much to give you. But how does anyone figure out how to calculate personal injury settlements anyway? There are some clearly defined expenses, but some costs of an accident are much harder to quantify. There are ways to approach these calculations though, and our Queens personal injury attorneys can tell you more about how it all works.
What Can Add to the Value of Personal Injury Settlements?
The most important factor in a case like this is usually the severity of the injuries suffered by the victim. The value of personal injury settlements tends to rise in cases where:
Injuries are serious: Broken bones, traumatic brain injuries, and other serious injuries are going to get someone a larger settlement than minor issues like sprains or fractures.
The victim needs time to recover: If these injuries are going to sideline the victim for days, weeks, or even months, that can increase the value of a personal injury claim. Not only is the victim likely to end up with a pile of medical bills, but they probably have to miss work as well. A settlement has to be calculated with those lost wages in mind.
Injuries could be long-lasting: If an injury could result in a disability or disfigurement, that also usually results in a more robust settlement offer. This kind of injury is not just a physical issue. The victim is also likely to have experienced an incredible amount of pain and suffering. They might not be able to work again. When our clients are in this position, we fight to get them the kind of compensation that they deserve.
What Can Reduce the Value of Personal Injury Settlements?
Who is at fault is especially important when determining the value of personal injury settlements. If an insurer can argue that the person suing is also at fault for an accident occurring, that can cut a settlement down by a significant percentage.
A lack of evidence can also mean a smaller personal injury settlement. If you have less to show in court, an insurer might be more confident that your case can be beaten. This can result in them offering less money.
How Long Do I Have to Sue for Damages?
New York gives you three years from the date of the accident to sue. This can seem like a long time, but we recommend acting quickly anyway. If you try and file a case after the statute of limitations expires, it’s bound to get thrown out no matter how much evidence you have.
Contact Our Legal Team
If you are ready to learn more about your legal options and how an experienced attorney fights to get larger personal injury settlements for their clients, contact the Law Offices of George Poulos. We can schedule a consultation and take a closer look at your case.
