Victims of an accident may elect to settle with the person or entity that caused their injuries or any other losses. When settling a claim, a victim should ensure that they are receiving an adequate amount of money that can handle the damages incurred. However, it can often be difficult for a victim to calculate how much a settlement offer should be worth. If you or a family member needs help negotiating an injury settlement offer, you should consult with an experienced Baltimore personal injury lawyer. Victims of an accident should not have to worry whether they will be adequately compensated for their injuries. Rice, Murtha & Psoras is here to help you determine how much a settlement offer should be in comparison to your injuries.
Factors that Can Change the Value of a Settlement Offer in Maryland
There are no accident cases where the facts of the case and the injuries to the victim are 100% the same. As a result, you should also not assume that an injury settlement offer should have an average price. Instead, a victim will have to determine the value of the injury settlement offer by looking at the details of their case. While a comparison to similar cases can help, you should not completely base the value of your case on the circumstances of another case.
To determine how much an injury settlement offer is worth, a victim will need to examine various factors. The following is a list of factors that can alter the value of an injury settlement offer.
The Type of Accident that Caused the Injury
One of the first factors that can help calculate the value of an injury settlement offer is the type of accident that led to the victim’s injuries. For example, a car accident case may be worth more than a slip and fall accident because of the additional property damage on top of the victim’s injuries. A victim should consider all circumstances of the accident that may have impacted them financially.
Rice, Murtha & Psoras offers legal representation for a wide range of legal claims, including medical malpractice, product liability, and assault injury claims. We are ready to work with you to discover the value of your case.
The Severity of Your Injury
It is also vital to understand the extent of your injuries when deciding how much your injury settlement is worth. That is why it is necessary to seek medical care after your accident. The medical staff can help you ascertain the severity of your injuries and help determine whether you will need additional treatment in the future.
When determining the cost of your injury, you should consider a number of factors:
- Cost of medical treatment
- Expenses for medication and medical equipment
- Costs of rehabilitation
You should also keep a log of how the injury affects your everyday life. For example, if you have trouble performing simple activities, this is valuable information that should be documented.
Your Level of Liability
Liability is also an important factor that must be considered when determining damages for a case. For example, if the opposing party were completely responsible for the accident, this would make it easier to recover the compensation you deserve. However, if you were partly negligent for causing the accident, this may affect the amount of damages you can recover.
This is not a comprehensive list of factors that should be considered when calculating the cost of an injury settlement. Our experienced Baltimore personal injury lawyer can help you discover the value of your potential injury settlement.
Reasons to Consider a Personal Injury Lawsuit Instead of an Injury Settlement
Estimating the average cost of an injury settlement is not easy. In some cases, a victim may be successful in negotiating a settlement only to learn that it will not be enough to cover treatment for their injuries and other related losses. If you discover that an injury settlement is not sufficient to manage your damages, you should consider filing a personal injury lawsuit.
One reason to consider a personal injury lawsuit is that there would be no limitations on the amount of money a plaintiff can request for damages. An insurance settlement could be limited by the amount of coverage chosen by the policyholder. However, compensatory damages from a personal injury claim will be based on all the losses that resulted from the accident.
You should also consider a personal injury lawsuit because an insurance company may hesitate to pay a victim the appropriate amount of compensation for their case. This is especially true if a victim has to deal with an insurance company of the negligent party that caused the accident.
Our firm would welcome the opportunity to speak with you about filing a personal injury lawsuit for your accident case.
Consult with Our Skilled Maryland Personal Injury Attorney to Discuss Your Settlement
If you or a family member was injured in an accident in Maryland, contact a dedicated Maryland personal injury attorney. Rice, Murtha & Psoras has worked with many injury clients to pursue the damages they need for their injuries. With over 20 years of legal experience, injury attorney Randolph Rice is here to give you the legal representation you deserve. To schedule a free legal consultation to discuss your injury case, contact Rice, Murtha & Psoras at (410) 694-7291. Our law offices can also be contacted online.