Personal injury settlements are typically determined by analyzing past settlements and verdicts in comparable cases. Many variables will influence the total amount you should ask for in a personal injury settlement. Some of these variables are listed below:
- Lost wages
- Lost future earnings
- Psychological therapy
- Costs associated with rehabilitation
- Pain and Suffering
A damages formula may be used by an attorney to help you determine how much you should ask for in a personal injury settlement offer. An attorney may combine all medical expenses associated with your injury and multiply this number by a factor ranging from 1 to 5.
Any lost income will then be added to this amount. When you reach this figure, then you can have a baseline for any settlement negotiations. An experienced attorney can help you add up any costs and expenses unique to your case that should be included in the amount you ask for in your personal injury settlement.
Factors That May Affect The Amount You Ask For In A Personal Injury Settlement
Insurance policy limits may influence the amount you should ask for in a personal injury settlement. In some cases, the settlement amount cannot exceed a specific amount decided by the insurance company.
The severity of your injuries and the costs of your treatment may also affect how much you should ask for in a personal injury settlement. Particularly painful injuries and extensive rehabilitation or treatment procedures may cause an attorney to ask for a higher personal injury settlement amount.
The quality of your legal representation can also influence the settlement you ask for and the settlement amount you ultimately receive. A knowledgeable and experienced personal injury attorney can help you exert pressure on opposing counsel and obtain a higher settlement amount. The legal skills and experience held by a reputable attorney can help you understand every factor that may influence the settlement amount you should ask for in your personal injury case.
Injured? Call Us Today to Speak with a Kansas City Personal Injury Attorney
If you have suffered injuries in an accident caused by someone else, we’re here to help. To schedule your free case evaluation, call Krause & Kinsman Law Firm today or contact us online.
What Percentage of Personal Injury Cases Settle at Mediation?
How Much is a Personal Injury Claim Worth?
Will I have to pay my attorney any fees before representation begins?
No, your attorney will obtain a fee from the monetary award you receive.
Do some attorneys specialize in personal injury cases?
Yes, most personal injury attorneys focus their practices on personal injury cases, and some attorneys will devote their time to specific types of personal injury cases.
How long will my personal injury case take to settle?
No two cases are exactly alike, but most personal injury cases can be resolved anywhere from six months to two years.