Personal Injury Award

A personal injury award is the amount of monetary compensation received for a favorable settlement to a personal injury claim. Personal injury awards vary according to the severity and nature of the personal injury. A personal injury award can be handed down because of a defective product, a car accident or any number of other reasons. The amount of a personal injury award can also be affected by many other factors.

How Quickly You Settle

The longer you wait to file a personal injury claim the more it will affect the settlement. Many times there is a statute of limitations on filing a claim for personal injury. This is because many of the witnesses may no longer be around to give their testimony or some key piece of evidence may be lost or thrown out. Another reason to file for a personal injury award quickly is because the longer you wait the more likely a judge will dismiss the case due to the lack of what is judge may feel is just cause for the claim.

Severity of the Injury

Another factor that will affect a personal injury award is the severity of the injury. A person injury case involving rehabilitation and permanent disability will most likely warrant a higher personal injury award. This makes it imperative to file a personal claim as soon as possible if you incur any injury that will cause a loss of time at work or a prolonged stay in a hospital or rehabilitation center. If there is prolonged disability a personal injury award can also be turned into an annuity so the bills will be paid over the long term of the recovery period.

Out of Court Settlement

Another factor that can affect the amount of a person injury award is if you settle out of court. Many times insurance companies will settle out of court so that they do not get charged with all the court costs and lawyers fees. The downside is that there are times this will mean that it will result in a much lower personal injury award then you may have gotten in a court case. The thing to do is listen to the advice of a personal injury lawyer and do what they tell you to do.