May 26, 2023
6 Factors That Affect the Value of a Personal Injury Claim
Personal injury claims arise when someone is injured or harmed due to the actions or negligence of another party.
These claims can result in compensation for the victim, which is meant to help cover the costs of medical bills, lost wages, and other expenses related to the injury. However, the value of a personal injury claim can vary greatly depending on a number of factors.
Read on to learn about the key factors that can affect the value of a personal injury claim.
How to Make a Personal Injury Claim
If you have suffered a personal injury, there are several steps you should follow to make a claim.
- Seek immediate medical attention to ensure your well-being and create a record of your injury
- Document the details of the accident, including any relevant photographs, videos or notes, to establish what happened and who was at fault.
- Gather evidence relating to the accident, such as witness statements, police reports, and medical records.
- Contact a personal injury lawyer who can offer legal advice and help you navigate the claims process.
Your lawyer can also assess the validity and potential value of your claim. If your lawyer advises that you proceed with the claim, they can help you file it with the relevant insurance company or organization.
Following this, negotiations will take place to settle. If a settlement cannot be reached, your lawyer may advise that you take the case to court, where a judge and jury will decide the outcome.
Every personal injury claim is unique, and it is important to seek the advice of a qualified lawyer to ensure you receive the best guidance and support for your specific circumstances.
Things That Impact the Value of a Personal Injury Claim
#1 Severity of the Injury
One of the most important factors that can affect the value of a personal injury claim is the severity of the injury. In general, the more severe the injury, the higher the claim’s value for pain and suffering. For example, a person who suffers a broken leg in a car accident case will likely receive more compensation than someone who only suffers minor bruises and scratches.
The severity of the injury is typically determined by medical professionals, who assess the extent of the damage and the likely recovery time. Medical records and reports are an important part of any personal injury claim, as they provide evidence of the extent of the injury and its impact on the victim’s life.
#2 Length of Recovery
Another important factor that can affect the value of a personal injury claim is the length of time it takes for the victim to recover from their bodily injuries. In general, the longer the recovery time, the higher the claim’s value. This is because a longer recovery time often means that the victim has had to miss work or incur other expenses related to their injury, such as ongoing medical treatment or physical therapy.
In some cases, the victim may never fully heal from their injuries, which can result in a higher compensation award.
#3 Impact on Daily Life
The impact of the injury on the victim’s daily life is another important factor that can affect the value of a personal injury claim. For instance, if the victim cannot perform their job or other daily activities, they may be entitled to compensation for lost wages or other expenses related to their inability to work.
Additionally, if the injury has had a significant impact on the victim’s quality of life, such as preventing them from participating in hobbies or activities they previously enjoyed, they may be entitled to compensation for their pain and suffering.
#4 Liability and Negligence
The issue of liability and negligence is another important factor that can affect the value of a personal injury claim. To receive compensation for a personal injury, the victim must be able to prove that the other party was at fault for the injury.
If there is clear evidence that the other party was negligent or acted recklessly, the victim may be entitled to a higher compensation award. On the other hand, if the victim contributed to the accident or was partially at fault, their compensation award may be reduced.
#5 Insurance Coverage
Insurance coverage is another factor that can affect the value of a personal injury claim. In many cases, the party responsible for the injury will have insurance coverage that can be used to pay for the victim’s damages. The amount of insurance coverage available can have a significant impact on the value of the claim.
#6 Statute of Limitations
Finally, the statute of limitations is another important factor affecting the value of a personal injury claim. The statute of limitations is the time period within which the victim must file their claim. If the victim fails to file their claim within this time period, they may be barred from recovering any compensation.
In general, the statute of limitations for personal injury claims varies depending on the province and the type of claim. It is important for victims to be aware of the statute of limitations in their area and to take action promptly to ensure that they do not miss the deadline.
The value of a personal injury claim can be affected by several factors. Victims of personal injury should consult with an experienced personal injury claim lawyer to ensure they receive the compensation they are entitled to under the law.
At Michelle Linka Law, we represent victims in personal injury lawsuits. If you’re looking for a Peterborough personal injury lawyer you can trust, contact us today at 416-477-7288.
