After a serious accident, your life may change significantly. While it may be difficult to handle at this time, the sooner you start to track your expenses and other indications of your case value, the better off you will be.
Keep in mind that you don’t have to do this alone. At the Burkett Law Firm, our legal team is here to help you with your claim and ensure you receive a fair settlement offer for your losses and injuries.
What Elements Are Considered When Determining the Worth of Your Personal Injury Claim in Texas?
There are several factors that will appear in almost all personal injury cases were determining the value of your settlement is needed. The easiest cost to determine if your medical costs. However, you must also consider things like the cost of future care.
The value of any property that is destroyed or damaged during the accident will also be factored into the settlement amount. If you lose time from work, then your lost wages should be factored into the final settlement amount, too. There are other types of economic damages that may be applicable to your situation, as well. Because the types of damages that will apply vary from one case to another, it’s a good idea to speak to an attorney about your case and its value.
While all the above play a role in the settlement you receive for a personal injury claim, the biggest factor is typically pain and suffering. This is also referred to as general damages.
Usually, pain and suffering are used as a multiplier when determining the amount of damages that are awarded. You take all the other damage types, which are called special damages, and then multiply them by the value of your pain and suffering.
Determining General Damages and Pain and Suffering Costs in the State of Texas
This is one of the main issues that you have to deal with when pursuing a settlement in Texas or in any other state in the country. If you are trying to deal with the insurance company, using a multiplier is the easiest way for them to keep the cost of the settlement as low as possible.
You must, with the help of your attorney, show that your injury claim is worth more money or a higher multiplier. It’s worth remembering that there aren’t any simple answers to this problem, which is why hiring an attorney is such a good idea.
Do You Have the Right to File a Lawsuit?
As the victim of an accident, you have the right to sue. However, most personal injury cases (around 95% of them) are settled outside the courtroom. The threat of going to court and before a jury is one of the best ways to encourage an insurance company to negotiate with you. It is up to you and your attorney to handle the negotiation process.
Where Do Punitive Damages Come into Play?
With punitive damages, it must be determined that one party was grossly negligent beyond the simple responsibility they had for what occurred. One of the main reasons the at-fault party (or their insurer) will negotiate to reach a settlement is so punitive damages are not assessed to your case.
While this may make going to trial sound like the better option, punitive damages are not guaranteed. You should work with your attorney to determine what the right option for your case and situation is.
You Must Be Able to Demonstrate Your Damages
More than anything else, you need to make sure that you keep accurate records. This means that you document everything.
It also means that you file all medical bills that arise from the accident and maintain a running tally of your costs. You should also find out the value of your property that was lost in an accident. Make sure to know how much money you could have earned during your time away from work due to the accident too.
Hire Our Legal Team to Help with Your Texas Personal Injury Claim
When it comes to filing a personal injury claim in Texas, there are more than a few factors to consider. Be sure to keep the information here in mind and reach out to our legal team at the Burkett Law Firm to discuss your options.
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