Before sitting down to negotiate for a settlement, one of the first things a victim of a personal injury case should do is decide how much they should expect.
Without knowing how much compensation is usually given for damages, the question of negotiating for a settlement cannot be addressed. The injured party should consider the approximate amount of money the jury might award them if they won the case. A great personal injury attorney in Los Angles can advise them on how much to ask for in a personal injury settlement.
Someone who’s been injured is eligible for compensation only if the responsible party was negligent in some way and that negligence caused the actual injury. A personal injury can be physical, emotional.
The victim can seek compensation for:
- Medical bills and related expenses
- Permanent disability
- Loss of quality of life
- Lost income or ability to work
- Pain and physical suffering
However, most of these factors could be subjective and therefore hard to measure. For instance, it’s hard to place a monetary value on how an accident has affected one’s quality of life or personal life. To surmount this challenge, a skilled personal injury attorney in Los Angeles will use the damages formula as a starting point to determine the compensation amount to ask for.
Insurance companies won’t go out of their way to explain the process of calculating damages. It’s important that the plaintiff understands the formula and is able to work it out on their own. With the help of an experienced personal injury attorney in Los Angeles, a claimant can use the damages formula to work to their advantage and come up with fair compensation.
The starting point should be the numbers that are already known. The complainant should first consider the expenses already accrued, such as medical bills and related expenses paid. If they suffered any work-related problems, they should include that as well, for instance, lost income or expenses resulting from a change in the line of work.
The total is then multiplied by any suitable number between 1.5 and 5, though in some cases, it might be higher than that.
In most cases, insurance companies try to negotiate for settlement rather than go to trial. This is because insurance policies have limits and often the amount is less than that which a victim may be seeking.
The plaintiff has a right to either accept the offer and be satisfied, refuse the offer and head to court, or accept the offer and release the insurance company from further liability, then choose to sue the insured party directly for the rest of the compensation.
Contact El Dabe Ritter Trial Lawyers
El Dabe Ritter Trial Lawyers is a top-rated law firm with over 30 years of combined experience. Their attorneys have won numerous cases in combined verdicts and settlements for their clients.
Any client in a personal injury case deserves compassion and compensation for their pain and suffering, and it’s this belief that drives the firm to go the extra mile. The ability to always be there for their clients sets them apart from the competition.
Every single client gets sufficient representation and they get risk free consultation, paying no upfront fees unless they win. El Dabe Ritter Trial Lawyers are recognized as leaders in Los Angeles. Need to know how much to ask for in a personal injury settlement? Call El Dabe Ritter Lawyers today!