Understanding the Factors That Affect Compensation

After a serious accident, one of the first questions many injured people ask is: How much is my personal injury case worth?

The answer depends on the specific facts of your case. There is no universal formula for calculating the value of a personal injury claim, and the first settlement offer from an insurance company may not reflect the full impact an injury has had on your life.

If you were injured in a car accident, truck accident, motorcycle accident, slip and fall, or another type of accident in Champaign-Urbana, Danville, or surrounding areas in Central Illinois, understanding what affects the value of a personal injury claim can help you make more informed decisions about your legal options.

What Factors Affect the Value of a Personal Injury Claim?

Several factors may influence how much compensation may be available in a personal injury case. Every case is different, but the severity of your injuries is often the main factor.

The Severity of Your Injuries

The nature and severity of your injuries can significantly affect the value of a personal injury claim. A relatively minor injury that heals quickly may have a very different value than an injury that requires surgery, extensive physical therapy, long-term treatment, or ongoing medical care.

For example, an accident victim may suffer:

• Broken bones
• Spinal cord injuries
• Traumatic brain injuries
• Neck and back injuries
• Internal injuries
• Nerve damage
• Permanent scarring or disfigurement
• Long-term or permanent disabilities

The more serious the injury and the more extensive the treatment required, the more important it becomes to understand the full scope of your medical condition before resolving a claim.

Medical Expenses Are Only One Part of a Personal Injury Claim

Many people assume the value of a personal injury claim is based primarily on medical bills. Medical expenses are important, but they are only one potential component of compensation.

Depending on the circumstances, a personal injury claim may involve damages related to:

• Emergency medical treatment
• Hospitalization
• Surgery
• Doctor appointments
• Physical therapy
• Prescription medications
• Future medical care
• Lost wages
• Reduced earning capacity
• Pain and suffering
• Emotional distress
• Permanent disability
• Disfigurement
• Loss of normal activities and quality of life

A person who is injured in an accident may continue to experience financial and personal consequences long after the initial medical bills have been paid.

Lost Income Can Affect the Value of Your Claim

An injury can affect your ability to work in several ways. You may miss work while recovering from your injuries. You may need to use vacation or sick time. You may be unable to return to your previous position or may have to accept a lower-paying job because of physical limitations.

In more serious cases, an injury may permanently affect a person's ability to earn income. For this reason, a personal injury claim may need to consider both income already lost and the potential impact an injury could have on future earning capacity.

Why You Should Be Careful With Quick Settlement Offers

Insurance companies may try to resolve claims quickly. While a settlement can sometimes be appropriate, accepting an offer before you understand the full extent of your injuries may create problems later.

Once a personal injury claim is settled, you may not be able to seek additional compensation for medical treatment or other losses related to the same accident.

Before accepting a settlement, it is important to understand:

• The full extent of your injuries
• Your expected future medical needs
• Your lost income and potential future losses
• The available insurance coverage
• The potential value of your claim
• Any liens or expenses that may need to be paid from a settlement

The right decision depends on the specific facts of your case.

Talk to a Personal Injury Lawyer in Champaign-Urbana or Danville

If you were injured in an accident, you may be dealing with medical bills, lost income, insurance companies, and uncertainty about what happens next.

A personal injury lawyer can review the circumstances of your accident, help you understand your legal options, and work to determine what compensation may be available under the specific facts of your case.

Schiro & Themer represents injured individuals in Champaign-Urbana, Danville, and throughout Central Illinois. If you or a loved one has been injured because of someone else's negligence, contact Schiro & Themer to discuss your case and your options for moving forward.

The sooner you understand your rights, the better prepared you may be to protect them.