There are multiple factors that are used to determine what settlement amount a victim should receive for their injuries, including:
- The amount of assets or insurance the at-fault party has available. If the victim’s damages are of a higher amount than what the at-fault party’s insurance limits are and that party does not have the assets to make up the difference, the case will likely settle for the policy limit amount. There are exceptions, however, such as in car accident lawsuits where the victim may be able to also file a claim against their own insurance policy).
- Projecting what a jury could decide the value of the case is if the case goes to trial. An injury attorney will research what jury verdicts were in cases similar to the victim’s case.
- The willingness of the victim to settle for less than the full value of their claim or the willingness of the at-fault party and/or their insurance company to settle.