Personal injury cases can be a complicated and lengthy process. It can be highly stressful to go through, especially if you are not familiar with how insurance companies determine settlements. In Wyoming, personal injury claims can include car accidents, slip and fall accidents, medical malpractice, and other types of incidents that result in injuries.
When you file a personal injury claim in Wyoming, your attorney and the insurance company will exchange information and negotiate a settlement. Insurance companies determine settlements based on several factors, and it is crucial to understand what they are to ensure that you receive fair compensation.
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Factors Insurance Companies Consider
Severity of Injury
The most important factor in determining settlement amounts is the severity of the injury. If you sustained severe injuries in the incident, your settlement amount will likely be higher than if you had only minor injuries. Severe injuries can include broken bones, organ damage, paralysis, and extensive scarring.
Medical Expenses
The total amount of medical expenses incurred as a result of the injury is a critical factor in deciding settlement amounts. The insurance company will consider the cost of all medical bills, including hospital stays, doctor’s visits, medications, and rehabilitation services.
Lost Wages
If you had to miss work due to your injuries, the insurance company will also factor in your lost wages. They will consider how much income you lost due to the incident, future earning capacity, and whether or not you can return to work.
Pain and Suffering
Insurance companies also consider the pain and suffering that you experienced as a result of the injury. This includes physical pain, emotional trauma, and mental anguish. Pain and suffering damages are often subjective and therefore can vary widely.
Comparative Fault
In Wyoming, the courts use a comparative fault system when determining negligence. This means that if you were partially responsible for the accident, your settlement amount may be reduced accordingly. For example, if you were in a car accident and were found to be 25% at fault, your settlement would be reduced by 25%.
Negotiation Process
After you file a claim, the insurance company will conduct its investigation and assess the damages. They will then make an initial settlement offer, which may be significantly lower than what you are willing to accept.
Your attorney will work to negotiate a fair settlement based on the factors discussed above. They will also consider future medical bills, lost wages, and other factors not previously addressed. Once a settlement is reached, you will sign a release form relinquishing your right to sue the other party for any further damages related to the incident.
Conclusion
Understanding how insurance companies determine settlements in personal injury cases is essential to ensuring that you receive fair compensation for your injuries. It is crucial to work with an experienced attorney who can protect your rights and negotiate a settlement that covers all of your damages.
While the negotiation process can be lengthy, it is essential to be patient to receive the best settlement possible. Keep in mind that insurance companies are businesses and therefore, their initial settlement offer may be lower than what you deserve. Your attorney will work to negotiate for the best possible outcome, ensuring that you receive the full compensation you are entitled to.