There are many factors one must take into consideration when determining a settlement amount. Personal injury cases have different parties, circumstances, and facts that establish how much they are worth. For those wondering about the value of a personal injury claim in Ohio, here are some common factors to take into consideration.
Type of Case
Although it is difficult to determine a set value on any personal injury case, some cases have a potential for a higher reward. A medical malpractice case will usually bring a higher settlement amount than a slip-and-fall case, and a wrongful death case will typically settle for more than a minor car accident. Recognizing the type of personal injury case you have is an ideal way to understand how valuable his or her claim may be.
The value of a personal injury settlement may change based on location. The settlement amount can potentially fluctuate depending on where an individual lives, and where he or she files the claim. For example, if a pedestrian slips and falls at a location that is known for such accidents, the judge may decide on a higher reward amount as a penalty to the property owner for not fixing the issue.
Who is Liable
If those filing a claim can prove clear liability against the defendant, it can add value to the case. Contrastly, when an individual cannot prove that the defendant is at fault, or there is partial fault against the individual filing the claim, the value of the claim may decrease. To secure maximum funds in a personal injury accident, an individual must be completely free of fault in the eyes of the law.
The Parties Involved
The individuals involved in the case can change the value of a claim. For example, when a defendant is a large entity with the ability to pay a significant settlement amount, it will add value to the case. In such a case where a judge decides to implement punitive damages, the award amount could increase drastically. If the individual filing the claim can no longer perform because of the injury — like a professional athlete — the claim amount will also increase to compensate for his or her lost earnings.
An excellent way to estimate value on a personal injury claim is to find out what other cases of similar circumstances settled for. By researching cases with similarities, an individual can gain an understanding of how much his or her claim may be worth. This is not always a surefire way to determine award amount, but it can provide an individual with a ballpark estimate depending on the aforementioned factors.
If you believe you have a personal injury claim, be sure to speak with a qualified attorney. Ohio Accident Attorneys has the resources to get you in contact with a personal injury attorney in your area. He or she can analyze the details of your accident and pursue legal action on your behalf. Contact us today for a free case evaluation.