4 Things That Determine The Value of Your Personal Injury Claim
This legal guide will discuss personal injury claim value and four major factors that affect the value of your claim.
LiabilityFlorida is known as a “pure comparative fault” state. This means that state law requires a percentage of the blame be assigned to all involved parties for every motor vehicle accident. In some cases, fault will be black and white, and one party will be found 100% liable for the crash. However, other cases may mean multiple parties could have contributed to the accident.
Policy LimitsInsurance policies have limits on the amount of money they will pay for a claim. This limit varies based on policy terms. In most cases, you can only recover damages up to the other driver’s policy limit. For example, if your case involves $20,000 of damages but the at-fault driver’s policy limit is $15,000 per person, you can only recover $15,000. Your insurance company is responsible for covering the difference if your damages exceed the policy limit and you have Underinsured Motorist (UIM) coverage.
Property DamageDamage to vehicles is another factor in calculating your claim’s value. Typically, the greater the damage to the cars, the greater the probability that the crash victims were severely injured. For example, in cases where a similar injury was sustained, a claim involving $15,000 in property damage often receives a higher settlement than an accident resulting in a few hundred dollars worth of damages. You could struggle to get a settlement to cover your medical bills if the accident only caused some scratches to your vehicle.
Severity of InjuriesInjury severity and type significantly impact the value of your case, as more serious injuries almost always result in more damages. Your settlement amount can vary depending on a variety of factors, including how much pain your injury has caused, whether your injury has any permanent effects, seriousness of your injury and whether it has caused any disfigurement, recovery period, medical bill costs, wage loss suffered and amount, and how much your injury affects your daily life.