Will Personal Injury Lawyer In London Discuss The "Average" Personal Injury Settlement?
Settlements for personal injury claims don't happen overnight -- and figuring out the value of a claim isn't always simple, either. Several factors, including medical expenses, determine proper compensation for damages, lost wages and disability caused by accident, as well as what that person's life would be like if they'd never been hurt. While it's technically possible to get an average settlement value of a personal injury case, it's not particularly meaningful in terms of predicting what any specific settlement might be worth. If you've been involved in an accident because of someone else's carelessness, speak to an Injury Lawyer in London to understand how the settlement process works.
How is the settlement reached?
A personal injury lawsuit settlement occurs when the at-fault driver and the person injured to the extent of the injuries agree to resolve their legal dispute out of court. Although many people believe a lawsuit ends in a judge or jury awarding a figure to a victim, most personal injury lawsuits end with a settlement. Settlements can be agreed upon by an insurance company, the plaintiff and defendant's attorneys, or even among the parties themselves.
Then, your Personal Injury Lawyer in London and the insurance adjuster will use several factors to determine their settlement amount. Insurance companies have a pre-set maximum settlement amount in mind. They know they would have to pay out if they lost a jury trial and attempt to protect themselves from paying more than necessary by using this number as a benchmark. In doing so, however, many insurers do not usually consider mitigating circumstances, which might make a case more valuable to a jury.
Getting a settlement is just one step in the process. The next step involves negotiations carried out internally by insurance adjusters or via your Personal Injury Lawyer in London. These negotiations are deliberated based on your physical injury, economic loss, pain and suffering, lost wages, property damage or other factors. Once the insurance company has agreed to pay a settlement amount, they will require an acceptance of settlement to complete the agreement.
Lawsuits are determined by negotiation or trial, mediation, arbitration, or alternative dispute resolution mechanisms. Once the responsible party is found, the parties involved will settle their case using any of these methods.