Table of Contents
Introduction
If you’ve been injured in an accident caused by someone else’s negligence in Oklahoma, you may be entitled to compensation for your damages. This compensation can cover a variety of losses, including medical expenses, lost wages, pain and suffering, and more. However, many people wonder if there are any limits on the amount of compensation they can receive in an Oklahoma personal injury settlement.
Understanding Personal Injury Settlements
First, it’s important to understand what a personal injury settlement is. When someone is injured due to another party’s negligence, they can file a personal injury claim seeking compensation for their damages. The other party’s insurance company will investigate the claim and may offer a settlement to avoid going to court. This settlement is a negotiated amount of money that the injured party agrees to accept in exchange for dropping their legal claim.
Factors That Can Affect the Amount of Compensation You Receive
Several factors can influence the amount of compensation you receive in an Oklahoma personal injury settlement. These can include the severity of your injuries, the extent of your damages, the amount of insurance coverage available, and the expertise of your personal injury attorney.
Severity of Injuries
If you have suffered severe injuries, your damages are likely to be greater, and you may be able to recover more compensation in your settlement. Examples of severe injuries might include broken bones, traumatic brain injuries, and spinal cord injuries.
Extent of Your Damages
Damages in a personal injury case can refer to both economic and non-economic losses. Economic damages might include medical expenses, lost wages, and property damage, while non-economic damages might include pain and suffering, emotional distress, and loss of enjoyment of life. The more extensive your damages, the more compensation you may be able to recover in your settlement.
Amount of Insurance Coverage Available
The amount of compensation you can recover in an Oklahoma personal injury settlement may be limited by the amount of insurance coverage available. For example, if the at-fault party has a $50,000 policy limit, you may not be able to recover more than $50,000 in your settlement, even if your damages exceed that amount.
Expertise of Your Personal Injury Attorney
The expertise of your personal injury attorney can also play a role in the amount of compensation you receive in your settlement. A skilled attorney with experience handling personal injury claims can negotiate effectively with the insurance company and may be able to secure a higher settlement amount than someone without legal representation.
Limitations on Compensation for Medical Malpractice Cases
In some cases, Oklahoma law does place limitations on the amount of compensation you can recover in a personal injury settlement. For example, in medical malpractice cases, Oklahoma has a cap on non-economic damages of $350,000. This means that even if your damages exceed this amount, you will not be able to recover more than $350,000 in non-economic damages.
Conclusion
In Oklahoma, there are no specific limits on the amount of compensation you can receive in a personal injury settlement, aside from the cap on non-economic damages in medical malpractice cases. However, the amount of compensation you receive will depend on a variety of factors, including the severity of your injuries, the extent of your damages, the amount of insurance coverage available, and the expertise of your personal injury attorney. If you’ve been injured in an accident caused by someone else’s negligence, it’s important to consult with an experienced attorney who can help you recover the compensation you deserve.