A question we always get from clients is, “what is my case worth?” Unfortunately, there is no magic formula to compute a specific value for your case. However, by consulting with a personal injury attorney you can determine the critical factors which drive and determine your motorcycle case’s value.
A settlement of a motorcycle case is an agreement between you and the defendant or their insurance company to avoid trial. Parties are motivated to settle based upon perceived risks of proceeding to trial and getting less, or having to pay more, than they are willing to settle for now.
Settlements are binding contracts and have the same effect as a judgment at trial. It is important to realize that once settlement takes place the case will be over. There will not be any additional money paid out for medical treatment or pain and suffering. Settlements can be set aside in only very rare cases involving fraud or mutual mistake.
What Is The Settlement Value of My Nevada Motorcycle Accident Claim?
The value of your case is dependent upon a number of factors. However, there is no “magic formula” that can determine the value of the case. Factors that determine the value include the amount of medical bills, the severity and permanency of the injuries, the amount of damage to vehicles, the impact the motorcycle accident had on your life, and the general appearance and characteristics of both the injured party and the party responsible. An experienced personal injury attorney has the ability to evaluate these factors and predict a general range where a verdict may come back. That is the settlement value of a motorcycle accident case.
The Total of Your Medical Bills Is One Factor in Your Settlement
One of the primary factors – but by no means the only factor – is the total value of your medical billings. If you have minimal medical treatment your case may be worth just over the amount of your medical bills. However, if you have significant medical treatment your case could be worth many times the value of your medical bills. The amount of losses that you have is a significant factor in determining your motorcycle settlement.
Another Factor in Your Motorcycle Settlement Is How The Accident Has Impacted Your Life
The value of your motorcycle settlement is likely different than it would be for other people. Your job, family circumstances, hobbies and activities of daily living are very different from other people. The way this accident impacted you individually is a significant basis for the valuation of your motorcycle accident settlement. You may or may not be able to return to your pre-accident employment. You may or may not be able to participate in your hobbies or fitness routine following your motorcycle accident, either. These factors play a significant role in the settlement of your motorcycle accident and they are unique to you.
Insurance Coverage Is A Critical Factor in Your Settlement
The most critical factor in any case is whether the defendant has insurance and, if so, how much. If the defendant has a minimal insurance policy it does not matter how much your potential damages are since there is likely no way to recover. You may consider filing an action against the defendant to go after personal assets in this situation. However, if they carry a minimal insurance policy it is highly unlikely they have significant assets to attach. In 99.9% of cases, your recovery will be limited to the available insurance in the case. For this reason, it is imperative that you maintain an uninsured/underinsured policy of insurance to fill the gap in the event you are injured in a motorcycle accident since injuries are likely to be significantly higher than what a minimal insurance policy would cover.
In some rare cases, a defendant may have assets that are worth going after. However, in contrast to the scenario above, they are much more likely to carry a higher policy of insurance to protect those assets. This is yet another reason to hire an experienced personal injury attorney to assist you in your motorcycle accident case.
Your Chances of Winning Your Case Is A Critical Factor in Determining The Settlement Value of Your Motorcycle Accident Claim
Another factor to consider is the determination of fault or liability. If your case is not clear cut – for example a he said/she said – the value of the case may be lower. If it is obvious that you were not at fault the value of the case may be higher. Sometimes, under the doctrine of comparative negligence, although it is likely you will win, it may also be likely that a jury or arbitrator could find you were partially at fault. In those cases your settlement could be reduced by a percentage based upon what a jury would likely do under the facts of your case.
There are a number of other logistical factors that come into play in valuing a motorcycle accident case as well. The judge may be biased towards defendants, there may be a language barrier which would lead to prejudice from potential jurors, your doctors may be uncooperative or unfamiliar with litigation, or eyewitnesses may have disappeared or be uncooperative. The most likely factor which will impact the case is the potential juror’s biases and prejudices for or against motorcyclists.
How and When Does Settlement Occur In My Motorcycle Accident Case?
Settlement can occur many different ways. You can settle with a demand letter to the insurance company setting forth why your case is strong and the amount of your damages. If this is unsuccessful, you can settle a motorcycle case at any time after litigation through informal conversations or a formal settlement conference or mediation.
Our experience in helping you negotiate your motorcycle accident case will increase the value of the case and get you the maximum settlement possible. We will guide you through this complex and challenging process to protect your rights after a motorcycle accident case.
Have You Been Injured In A Henderson Or Las Vegas Area Motorcycle Accident?
If you've been injured in a motorcycle accident you need to speak with an experienced motorcycle accident injury attorney as soon as possible. Please contact us online or call our Henderson office directly at 702.405.6000 to schedule a free consultation with our truck accident attorneys.