How To Increase Settlement Value in a Personal Injury Case
In Florida, motor vehicle accidents, slip-and-fall incidents, and pedestrian and cyclist accidents are among the most common causes of injury-related death. When you experience a personal injury incident that wasn’t your fault, a personal injury lawyer in Miami can help you determine whether you have a case.
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But what if you want to increase the compensation available in your case? With the right attorney’s help, it’s possible. Here’s how to increase settlement value in a personal injury case in Florida.
What Factors Influence the Settlement Value of a Personal Injury Case?
The value of your personal injury case settlement is largely determined by the kind of damages you are eligible for. There are three types of damages you could pursue: economic, non-economic, and punitive.
Economic damages cover losses with a quantifiable dollar value, such as medical expenses and lost wages. Non-economic damages cover losses that are harder to quantify, such as permanent disfigurement or pain and suffering. Punitive damages, on the other hand, are awarded in cases where there’s convincing evidence of gross negligence or intentional misconduct by the at-fault party.
Depending on which damages are relevant in your case, you may be eligible for multiple kinds and, therefore, can get a larger settlement value overall.
Can Settlement Values Differ Based on the Type of Personal Injury Case?
The type of personal injury claim you file can have a significant impact on your settlement value. If you are in a car accident, for example, your own insurance can pay for at least a portion of your costs since Florida is a no-fault auto insurance state — a factor that often impacts the average car accident settlement.
Another example is slip-and-fall personal injury cases, which often don’t see very high compensation amounts due to less serious injuries. In contrast, a dog bite incident could carry a higher value for compensation due to disfiguring injuries.
How Does the Location of the Accident Affect the Settlement Amount?
The location of your accident could be important, especially in premises liability cases. This is because commercial liability coverage is generally more expansive than that of a private homeowner and may, therefore, feature larger policy limits.
What Role Does the Severity of Injuries Play in Determining Settlement Amounts?
One of the biggest determining factors when it comes to settlements is the severity of injuries. A broken bone won’t carry the same value as a permanent disfigurement or disability after all.
Furthermore, severe injury compensation is more likely to include non-economic and possibly punitive damages than a minor injury that doesn’t permanently stop you from working or enjoying your life.
How Does the Duration of Recovery Affect the Settlement Amount?
Your personal injury recovery period can certainly impact your economic damages, as it could determine the scope of your medical expenses and lost wages. If you suffer a long-term disability or other life-changing issues, non-economic damages can also come into play.
How Do Pre-Existing Conditions Impact My Settlement?
If you are discovered to have a pre-existing condition, this could hurt the value of your settlement if you don’t mount an effective legal strategy that clearly demonstrates the true impact of the incident.
To be clear, however, you don’t have to disclose a pre-existing condition to the other party. While they can request medical records relevant to the case, the Constitution of the State of Florida protects your right to privacy, and this right was extended to medical records in the 2002 case of State v. Johnson.
How Does the Insurance Company’s Evaluation Affect My Settlement?
Insurers will typically try to pay as little as possible, which means that insurance company settlement offers are usually on the low end. To do so, they will send someone to evaluate your case, discredit your claim, and justify a low payout. To combat this, you must provide robust evidence to prove your case.
Can the At-Fault Party’s Financial Status Influence the Settlement Value?
While the financial status of an at-fault party might not directly influence a settlement value, it could have an impact on how much money you receive in the end.
What Evidence Is Crucial for Maximizing a Settlement in Miami?
Depending on the type of accident you suffered and the extent of your injuries, medical records, billing statements, and proof of wage loss can all establish justification for a higher settlement amount. An experienced Miami accident lawyer can help you understand what types of evidence you should collect.
How Can Medical Documentation Impact My Settlement Value?
Medical records hold perhaps the greatest weight in determining Miami accident settlement values because they document your treatment and the cost thereof.
Gathering all relevant medical records and doctor recommendations will help you recover accident-related costs and forecast future costs, which you will need if you’re facing ongoing care.
How Can Witness Testimonies Influence the Settlement Value?
You may have to bring in a range of witnesses to support your claim for compensation. This could include people who were at the scene of the accident and can offer testimony relating to what happened and who was at fault. This may also include people who know the impact your injuries have had and the limitations you face as a result.
Witnesses support your testimony and the evidence presented, strengthening your case and potentially increasing settlement value.
What Is the Role of Expert Witnesses in Increasing Settlement Value?
Your Miami attorney may also decide to bring in expert witnesses like medical professionals, accident reconstructionists, and vocational rehabilitation experts to provide testimony that supports your claim. These witnesses use their knowledge and experience to either prove why the defendant is at fault or why you need higher compensation.
Are There Any Specific Legal Strategies To Maximize Settlement Value?
Your attorney may employ various legal strategies to maximize settlement value, including presenting key evidence, citing settlements for similar cases, and preparing to go to court if negotiations fail to hit a target number.
What Negotiation Strategies Can Help To Increase My Settlement Offer?
There are a few settlement negotiation strategies your attorney may use to maximize settlement value. This includes alternative dispute resolution (ADR), like non-binding arbitration. If the arbitrator decides in your favor, it could convince an insurance provider to improve a weak offer rather than go to court.
Your attorney may also leverage the potential for non-economic or punitive damages if the claim goes to court. Avoiding a potentially higher payout for a case they’re unlikely to win could convince an insurer to increase their offer.
How Does Filing a Lawsuit vs. Settling Out of Court Impact the Potential Settlement Value of a Personal Injury Claim in Miami?
When it comes to legal strategies for personal injury cases, settling out of court is often preferable. It’s typically faster and less expensive, and the outcome is assured once you reach an agreement.
However, there are no guarantees when you go to court. Even with a strong case, you can end up with nothing. How long do slip-and-fall settlements take in court? What about car accidents or medical malpractice suits? The time varies greatly, but a rule of thumb is that if you can’t wait years to start receiving money, an out-of-court settlement may be the better option.
What Should I Avoid Doing To Ensure My Settlement Value Is Not Diminished?
While there are a few ways you can increase the value of your settlement, there are also a few ways you may inevitably diminish it. The main thing to remember is that you never want to accept the first offer, even if your situation seems desperate.
If you settle too quickly, you’re leaving money on the table that you might need later to continue paying medical expenses or covering lost wages. Always follow your lawyer’s advice regarding when to settle.
How Important Is It To Have a Miami Personal Injury Attorney for My Case?
You can try to fight insurance companies on your own, but they have the resources to outlast you in a long legal battle. An experienced personal injury attorney has the knowledge and skill to guide you through the process, fight for the compensation you deserve, and alleviate the stress and uncertainty you face in the wake of a serious accident.
Schedule a Consultation With a Trusted Attorney
With an experienced Miami lawyer from Bernstein & Maryanoff Injury Attorneys by your side, you can leverage factors that influence a settlement, gather crucial evidence, and negotiate for fair compensation that helps you move forward with your life.
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