How Do Insurers Value A Personal Injury Claim?

If you’ve recently suffered injury in any type of accident that was caused by someone else’s negligence, you could be entitled to compensation in a personal injury claim or lawsuit. One of the most critical aspects of this type of case is determining the value of your claim or in other words, what your claim is worth. The answer depends on the nature and extent of your injuries.

What Factors impact the Value of Your Personal Injury Case?

When it comes to determining the value of your claim, most insurance adjusters follow a similar set of guidelines and procedures that a personal injury lawyer does. In order to determine the value of your claim, it’s important to understand the types of damages or financial losses you could be compensated for. Usually, the at-fault business or person is liable and must pay you for:

• all medical expenses including hospital bills, medical treatment and medications, physical therapy, rehabilitation, surgical procedures, and any other out-of-pocket costs related to the diagnosis and treatment of your injuries

• the availability of supporting evidence and the strength of your legal team’s arguments on your behalf

• the degree and extent of disruptions to your daily life

• emotional distress or trauma attributed to the accident

• lost income and the impact on your future earning capacity

• repair and/or replacement costs of all property damaged in the accident (e.g. personal property or vehicle)

• your estimated time of recovery and whether or not you’re expected to fully recover

In order to properly evaluate your claim, there may be other factors that need to be considered as well. Unfortunately, many insurance companies fail to take into account or simply ignore other key factors that could increase the value of your claim. As a result, insurance companies tend to low-ball settlement offers in the hopes that you will accept less than what you’re entitled to.

Damages You may be entitled to

When you’re injured in an accident that is caused by another person’s negligence, the at-fault party’s insurer may compensate you for the following damages and expenses:

• compensation for disfigurement and long-term or permanent disability
• emotional distress
• lost income and loss of future earnings potential
• medical expenses attributed to the accident and your injuries
• pain and suffering
• personal property and vehicular damage

If you or a loved one were recently injured in an accident, don’t try to take on the insurance companies without legal representation. They may pressurize into accepting a lower amount as settlement. That is why you need a personal injury lawyer in Richmond Hill to represent your rights and help you get the amount that is fair. Call RPC Law at (416) 477-6840 today to ensure your rights are protected.

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