If you become the victim of a serious accident, for example a traffic accident or an industrial accident, you will probably incur personal injury. If someone else is liable for the accident, you are entitled to full compensation for the financial consequences of the accident. Together with your lawyer, your damage will be accurately mapped out and it will be claimed from the liable insurer. How does the personal injury settlement work? We explain that to you in this article.
After the accident: the recovery phase
During the first phase after the accident, the emphasis is on your recovery. Medical treatments take place and possibly a rehabilitation process. It is important that you call in a lawyer specializing in personal injury as soon as possible. In consultation with your lawyer, the necessary facilities will be arranged to ensure that you can continue to function in your home situation. You can think of domestic help or a meal service. For the first financial damage, such as medical costs, an advance on your compensation will be requested from the liable insurer.
Making an inventory of your full financial loss
After a serious accident you are temporarily or permanently incapacitated for work. This leads to loss of income and a new job prospect. If necessary, your lawyer will call in expert help, such as an employment expert, to map out which functions you can still perform and what income is involved. This is how your loss of earning power is determined. In addition, other damage items, such as loss of self-employment and pension damage, are also calculated and included in a damage statement. The insurer may be asked for an additional advance payment to prevent financial problems.
The medical final state
If you have fully recovered, or if no further progress can be expected from a medical point of view, your personal injury settlement can be completed. We then speak of a medical final state. On your behalf, your lawyer will negotiate with the liable insurer about the total compensation to be paid to you. It is important that all damage items are fully compensated to ensure that you also have sufficient financial capacity in the longer term.
The final arrangement
In consultation with you, agreement will be reached on a final arrangement. The amount the insurer will pay you is laid down in a settlement agreement. Shortly after you have signed this agreement, the amount, minus the advances already received, will be deposited into your bank account. The insurer also pays the costs of your lawyer.
You can find help with recovering personal injury claims from a personal injury lawyer
Personal injury claims are a specialty. Thorough and up-to-date knowledge of damage, social security, insurance and pensions is required, and a personal injury lawyer must also have the necessary communication skills and negotiation skills. Would you like more information or advice about your personal injury case? Then contact us without obligation.