Factors That Determine Accident Compensation Payouts

 Posted on August 16, 2023 in Personal Injury

If you sustain injuries in an accident caused by another person in Illinois, you may be eligible for compensation to cover your damages. The amount of compensation you can seek depends on various crucial factors. Gaining a clear understanding of these factors can assist you in assessing the potential of your claim.

Type and Severity of Injuries

The most crucial factor is the type and severity of your injuries from the accident. More serious injuries that result in ongoing medical treatment, disability, lost wages, or reduced quality of life typically merit larger payouts. Thoroughly documenting your injuries and having medical experts fully evaluate impairment levels is crucial. The defense will seek to minimize the injury severity.

Insurance Coverage Limits

Compensation is limited to the amount of applicable insurance coverage. This is why carrying adequate underinsured and uninsured motorist coverage is so important. The at-fault party’s policy limit will cap payouts even if your damages exceed this limit. Determining all available policies and limits early in your claim is beneficial.

Shared Fault

Illinois follows modified comparative negligence rules. If you were partially at fault in the accident, your percentage of fault reduces your total compensation amount. However, if you were 50% or more at fault, you cannot recover any damages. The insurance claims adjuster will often argue for allocating partial fault to you to reduce payouts. Having an experienced attorney fight these allegations is key.

Lost Income and Earning Capacity

You can claim compensation for lost wages from missing work because of injury recovery. You may also recover for reduced future earnings if disabilities from the accident impact your career and income potential long-term. Thoroughly documenting your income history and having vocational experts realistically evaluate losses to your occupation is essential. Lost earnings can increase the value of injury settlements.

Non-Economic Damages

Compensation for subjective, quality-of-life losses like pain and suffering, emotional distress, loss of companionship, and reduced enjoyment of life are important components of accident injury claims. However, awards for these non-economic damages are limited in some cases in Illinois. Understanding the applicable caps and restrictions is essential when evaluating settlement value.

Contact an Illinois Personal Injury Lawyer

Understanding these key factors allows you to effectively value your accident injury claim and negotiate fair compensation. An experienced Joliet personal injury attorney can help maximize your recovery. Contact us for a free, no-obligation consultation. Call McNamara Phelan McSteen, LLC at 815-727-0100 to get started so you know what the next steps are that you should take.

Source: 

https://idoi.illinois.gov/consumers/consumerinsurance/comparative-negligence.html