Contrary to popular belief, there is no simple formula that will determine the exact amount of settlement you can receive for any personal injury claim in Ohio. In fact, each claim is unique; which is why it's a good idea to have a basic understanding of how multiple elements and the people who file the claims can impact Ohio settlement values.
Determining Ohio Settlement Values
It's a common misconception that finding the precise amount of financial compensation you'll receive after an accident is simple. This is simply a false statement. When you've experienced an injury due to a car accident, a slip and fall in public or something that happened in the workplace - it's common for people to expect to be made whole. You'll want to make sure that any losses you've experienced are retained, any pain you've suffered is compensated and that you're medical bills are covered.
But the reality exists that no matter how hard anybody tries, there are rules, limits and processes that must be followed to the extreme when filing any personal injury or property damage claim. And more often than not, the law firms that have a clear and experienced understanding of Ohio settlement values are the ones that can receive the maximum for the clients they passionately defend.
What are the Basic Settlement Formulas in Ohio?
As we stated above, there is no 'cookie cutter' formula that the law follows to determine the precise amount of money that can be rewarded in a settlement. However, there is a basic formula that most insurance companies follow to minimize the amount of expenses they are willing to cover. Insurance companies typically believe that if they factor in the total amount of medical bills (meaning bills that were incurred after the accident and assuming they can predict future bills), plus the amount of lost wages, plus pain and suffering and property damages that they'll come up with an appropriate settlement.
This formula exists for full fault liability claims - however, when comparative fault cases are factored this formula can be even more complex; and will always benefit the insurance company.
How to Gain the Most Compensation
Insurance companies don't become rich by being generous to victims of accidents caused by negligence of their clients. This is where passionate and experienced lawyers in Cincinnati will stand up to the insurance companies and fight aggressively for their clients. Your attorney will work with you to formulate a plan that will maximize the Ohio settlement values to benefit you. Contact an experienced personal injury attorney in Cincinnati to discuss the details of your case as soon as possible to ensure you are fully protected and receive the compensation you deserve.