Posted on Monday, October 7th, 2019 at 4:57 pm
One of the biggest myths about personal injury settlements is that injury victims make lots of money from settlements for insurance claims. Even when an individual is entitled to a large settlement, other factors can result in a lower settlement figure. For example, the at-fault party may not have sufficient insurance coverage or assets to pay the total amount of the injury claim. Fault for the accident may be disputed, and a jury may determine that the injury victim was partially at fault for the accident.
The process of fighting for the compensation you deserve after an accident can be lengthy and complex. Having an experienced Sacramento personal injury attorney on your side can give you an advantage in the fight. Call for a free consultation with one of our lawyers to discuss how we can even the playing field with the insurance company.
Three More Myths About Accident Settlements
In addition to the “get rich quick” myth about personal injury settlements settlements, three other myths to be aware of include:
1. You are paid for your personal time and effort in settling your claim.
No, the insurance company does not reimburse you for your personal time and effort working on your case. However, you might receive compensation for emotional suffering and mental anguish caused by the accident and your injuries. An attorney can help you document these damages to include in your claim. Also, if you are required to file a lawsuit to fight for what you deserve, your attorney can request that the court include reasonable attorneys’ fees and legal costs in the demand.
2. The value of your case is three times the amount of your financial damages.
Calculating the value of a personal injury claim is not a simple math problem. Many factors must be considered when calculating how much a personal injury claim is worth. While financial damages can be a large portion of a claim, you also must consider compensation for your pain and suffering. Also, factors regarding fault, such as contributory negligence, could play a role in determining the value of your claim.
In many personal injury cases, we look at numerous factors to calculate the value of your injury claim, including, but not limited to:
- The total financial losses, including loss of income and medical expenses;
- The cause of the accident and the available evidence to prove fault;
- The conduct of the party who caused your injury;
- The type and severity of your injury;
- Whether you sustained a permanent impairment;
- Property losses for items destroyed in the accident, such as a motor vehicle and personal items; and,
- The availability of insurance coverage and other sources of compensation.
3. Insurance companies always want to settle a claim instead of going to court.
While an insurance company does use the cost of litigation as a factor to decide whether to settle a case for a certain amount, it is not the only factor the company uses to decide whether they want to settle or face litigation. Insurance companies have teams of professionals, including attorneys, who handle litigation. If the company believes that it has a strong case, it might decide to fight your claim in court instead of settling the claim.
Contact a Sacramento Personal Injury Attorney for Help
Handling personal injury settlements can be difficult and complicated. You need experienced legal counsel who understands personal injury laws, insurance tactics, and how to calculate the true value of a personal injury claim.
Contact our Sacramento accident lawyers for a free consultation by calling The Tiemann Law Firm at (916) 999-9000 or by visiting our website.
