Do you know your injuries can gain you monetary benefits? Yes, personal injury entitles you to get compensation for physical and psychological injuries sustained in an accident caused intentionally or due to the carelessness of another person. If you have damages and liability, you can hire a personal injury attorney Denver to manage the case on your behalf.
Personal injury claims are compensatory claims you get for the injuries that have caused you physically, mentally and monetarily damage. In a personal injury case, the victim receives compensation from the guilty or their insurance company. Most of the time, the case is resolved at the negotiation stage. In rare cases, the injury hearing makes it to the trail. The cases that go for the trial have to accept the jury’s decided amount for reimbursement. When you go for settlement, there is a written contract between the two parties to settle the matter without adapting any further legal action. Both the parties agree on a mutual amount for settlement.
What is a lawsuit in personal injury?
A lawsuit is legal procedures occurring in a courthouse. It is filed only if you are unable to resolve the case by providing informal information to the insurance company. The lawsuit comes into picture only when there is a disagreement between the insurance company and the applicant. Personal injury cases hardly get into lawsuit formalities as most of the cases are settled before trial.
How does the insurance company calculate the settlement?
While calculating a settlement, the basic factors that an insurance company considers are your loss of pay, medical expenses, property damage and other minute expenses that you have to bear because of the accident. The insurance company calculates the average loss per day and multiplies the same with the number of days you suffered. It follows the multiplier system to calculate your damages which depends on the seriousness of your damage.
How much can I ask for a personal injury settlement in Denver?
You have to set an upper limit which should be around 50% to 70% higher than your actual claim value. This helps at the time of negotiation as the probability of you getting the asked amount is very rare. In the end, you will realize that the final amount decided for settlement is your actual loss value.
Below steps will guide you in the process of negotiating for a settlement:
- Know the value of your claim before you start the discussion
- Prepare yourself for all counter questions from the adjuster. Make sure you have all your bullet points at the tip of your tongue to confidently ask for your rights.
- Listen to each point the adjuster has to say before throwing your points. By listening to them, you are understanding the opposite person and making them receptive to what you have to talk about.
- Prepare a list of questions that you want to ask as this develops the dialogue between the two parties.
- Do not stretch the negotiation if things are not working in your favor. Go back and gather more evidence to prove your point.
How long does it take to get the settlement in a personal injury case?
Many people choose to settle out of court. This allows them to get their money faster and avoid the risks and costs of a trial. However, sometimes the other party will not be willing to do this or will not offer a generous enough settlement. Even if they are willing to settle, this can take weeks or months. Many people working with personal injury attorneys in Denver then decide to find Colorado lawsuit funding companies to help out with their financial situation.
Will my settlement amount reduce if I am responsible for my injury?
Yes, your negligence can act as a hindrance in claiming the full settlement. You have the chance of losing a portion of your claim amount if the adjuster diagnoses your fault in the accident. You have to explain everything in detail to your personal injury attorney for him to do manipulations to get the case in your favor and maximize your compensation amount.
In Denver, you don’t need to worry about your claims as the attorneys are fully prepared to help you get your petitioned disbursement.
