[Video Summary] How Much Money Can I Recover In A Personal Injury Lawsuit?
- Personal injury recovery amounts vary based on factors such as the severity of the injury, recovery time, required medical treatment, and potential permanent changes.
- The seriousness of the injury directly affects the potential compensation, with more serious injuries leading to higher recoveries.
- Limited available insurance coverage can lower the value of a claim, so it's essential to consider the policy limits when seeking compensation.
- Consulting an experienced personal injury attorney early in the process can help maximize recovery by investigating additional insurance sources and preserving evidence.
- There is a time limit, known as the statute of limitations, to bring a claim, so it's crucial not to delay seeking legal help for a potential injury case.
[Video Transcript] How Much Money Can I Recover In A Personal Injury Lawsuit
Hi, I'm Attorney Kevin Young with Peterson and Associates in Kansas City. If you've been injured due to someone else's fault you're probably wondering how much money can I recover in my case. Personal injury recovery amounts vary greatly based on multiple factors: like how bad are you hurt, how long it takes to get better, how much medical treatment will you need to get better, can the injuries be completely healed or are there permanent changes that will never get better, and finally how much work did I miss as a direct result of the injury. In short the more serious the injury the higher the recovery.
Regardless of how seriously hurt you are there are sometimes factors that lower the value of the claim like limited available insurance coverage. The higher the policy limits of the available insurance the more money is available to pay the claim. Regardless of the situation you're almost always better off contacting an experienced personal injury attorney to help you with your claim if you want to get the most money in your pocket. For example in the case of limited insurance coverage a good attorney will investigate that issue and sometimes we are able to find additional sources of insurance that you would never find on your own.
The first step in maximizing your recovery is to bring the attorney in the case early that way the attorney can start the investigation right away and preserve evidence that might otherwise get destroyed or lost. There's also a time limit to bring a claim called a statute of limitations and if you wait too long to bring the claim you can lose your right to ever get a recovery no matter how good your case is. So don't wait, Call the 8's today for a free, no obligation consultation. You focus on your recovery and getting better and the team at Peterson and Associates will fight to get you the most possible money in your pocket. Because when you're injured, Results matter!
Personal injury compensation is the financial award you receive after winning a personal injury lawsuit. The amount of money you receive depends on factors such as the severity and extent of your injuries, how long you’ve been out of work, and how much time it takes to heal.
The following factors can increase the value of your lawsuit:
- Catastrophic injuries. The more serious your injuries are—for example, traumatic brain injury, spinal cord damage, paralysis, or permanent disability—the costlier your medical treatment will be and the more your case will be worth.
- Evidence of the other party's fault. An air-tight case against the negligent party will be compensated more generously than if there is any doubt in the role they played.
- Insurance policy limits. Most personal injury cases are only worth as much as the at-fault party is carrying in liability insurance, so the higher their policy limits are, the more money you can get from them.
- Hiring an experienced personal injury lawyer. Working with a personal injury lawyer who knows how to argue a case will increase the value of the claim right out of the gate.
For most people, the first step in maximizing your personal injury compensation is to file a claim as soon as possible after an accident. This is because you have a limited time to file your claim, usually one year from the date of the accident. You can extend this period by filing a “continuation” claim every few months until it expires. However, if you wait too long to file a claim, there is a chance you will lose this opportunity to receive compensation. The sooner you talk to a lawyer, the better!