You are probably aware that you are entitled to compensation for the injuries sustained in a car accident. However, you may be unsure about the amount to expect with your claim.
The answer to that is not so straightforward, and it can be difficult to predict the exact settlement figure with certainty. This is because there is no legal rule book that specifies the amount you can recover in compensation. Everything depends on the unique circumstances of your accident, as explained below.
Factors that determine the recoverable compensation
A combination of factors will come into play when assessing the compensation due to you. First in line is the extent of your injuries and their impact on your daily life. It can include anything from minor bruises to more serious injuries, such as spinal cord and brain injuries. The general rule here is that the greater the harm caused by your injuries, the larger the value of the potential settlement.
Your contribution to the crash also matters. Under Indiana’s modified comparative negligence rules, your level of responsibility will diminish the amount you can recover in compensation. It is worth noting that you cannot get any compensation if you were 51% or more to blame for the accident.
Another factor that can impact the value of your car accident claim is the amount of insurance coverage held by the responsible party. Insurers usually cap the amount of potential car accident settlements, and the larger the limit, the greater the compensation you can recover.
The financial resources of the at-fault party could also come into play when you file a personal injury lawsuit against them. This happens when their insurance coverage is insufficient to compensate you. If their personal assets cannot cover the payout, it may be impossible to collect the amount awarded.
Get an informed analysis of your options
If you have similar concerns or other questions about your car accident claim, it is best to seek qualified assistance to help you understand your legal rights and protect your interests. Having the proper guidance will significantly increase your chances of getting the compensation you deserve.