Negotiating Personal Injury Settlement: 3 Factors That Adjust The Value Of Your Claim

Taking a personal injury case to trial can be tedious and troublesome. 95% to 96% of personal injury cases are settled before the trial. If the opposing party shows interest in settling the case, you and your attorney should sit down and calculate just how much the case is worth. This will depend on the economic and non-economic losses that were suffered, as well as many other factors. This article will look at 3 factors that might affect whether the value of your claim needs to be adjusted.

The Amount of Liability All Parties Have in the Case

After calculating what a reasonable compensation amount may be, your attorney will sit down with you to discuss the specifics of your case. In particular, they'll want to determine what the circumstances and details surrounding your case may be. This can help them determine whether you share any liability in the case. In the event that you were partly responsible for the accident, your attorney might recommend that you factor that into account when determining how much compensation to request.

You should have sufficient evidence to prove where liability lies. In the event that you believe that you do not share any blame, your attorney will want to make sure that you have enough evidence to prove so. The evidence will be sent to the opposing party to justify the amount of compensation that you are requesting. By showing how strong your case is, the opposing party will be less likely to contest your requests in court.

Whether There Are Multiple Defendant Involved

In many instances and cases, more than one party may be found responsible for the accident. For example, if you were in a car accident, more than one other vehicle may have been involved. In the event of a slip and fall accident, your attorney might find that the property owner and another party may actually be responsible for your accident. Before filing a claim, your personal injury attorney will want to determine how many parties are involved and which parties should be held responsible. Each party found responsible will be involved in the claim.

When there are multiple parties, or defendants, involved, it's important to consider who would be an easier party to seek compensation from. If you plan on seeking compensation from multiple defendants, it's vital to consider how much each should pay based on liability, their responsibility and their position.

The Characteristics of the Plaintiff

Looking at past cases should give you and your personal injury attorney some idea as to how much compensation should be sought. In most cases, the court will follow precedence and will award a sum that is similar to the amount awarded before. The only factor that needs to be taken into consideration is the characteristics of the plaintiff (yourself). Your own characteristics may actually have a large influence on the case and the amount of compensation that might be awarded.

For example, your age, gender, employment position, likability, and even prior medical history might have an influence on the case. If you're younger and have already accomplished some exceptional milestones in your life, there's a good chance that you'll be awarded a larger amount of compensation if you ask.

Knowing how various factors may influence the value of your claim and how to adjust the value of your claim accordingly is an important part to filing a personal injury case. An attorney from a firm like Walsh Fewkes Sterba will walk you through all of the details, as well as the specifics, that you need to be aware of. They'll help you determine what a reasonable compensation amount is, and when to settle on the negotiations.