How am I compensated for my injury claim?
Getting injured due to someone else’s fault is stressful. While getting proper medical care is a priority, you might also wonder how you are going to be compensated for your injuries. Most personal injury claims are paid out by the at-fault person’s insurance company (usually by their car homeowners’ insurance). Idaho injury claims generally pay as follows:
REACHING A SETTLEMENT
Most personal injury claims are resolved BEFORE filing a lawsuit with the at-fault party’s insurance company. Your lawyer will send the insurance company a demand package and negotiate the injury settlement. The demand package generally includes your medical bills, lost wages, pain and suffering, and any property damage you have not been compensated for.
PAYMENT OPTIONS
When you agree on the settlement amount, you will usually receive the money in a lump sum. In certain circumstances (minor children or large settlement amount) a structured settlement might be appropriate.
ATTORNEY FEES, LIENS AND SUBROGATION
Before you receive your final settlement check, your attorney will calculate their fees and any other amounts owed to other people.
Attorney fees: Most Idaho personal injury attorneys operate on a contingent fee model, meaning you pay them a percentage of your final settlement. This ranges anywhere from 33% to 40%.
Liens: Some medical providers offer treatment on a lien. This means that you agree to pay them back at the time of settlement out of your settlement proceeds. This is a great solution if you do not have health insurance or have a very high deductible.
Subrogation: If your health insurance or your medical payments coverage paid for your medical treatment, they have a right to be paid back from any settlement you receive. Your attorney should negotiate the amount paid back to maximize the money you receive out of your settlement.
FINALIZING THE SETTLEMENT
Your attorney should give you a detailed accounting of your settlement prior the signing a release. Ideally, this should be done when the insurance company send you its first response to your demand. When you have agreed on a settlement, your attorney will have you sign a release agreement and distribute your settlement funds to you and anyone else who is accounted for.
SEEKING LEGAL ADVICE
There is no one fits all approach to a personal injury settlement. Every case is different and has different moving parts. If you have any questions about how a case gets resolved, we offer free consults to help you understand your rights and ensure you are fairly compensated for your injuries.
