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Is There a Minimum Value for a Personal Injury Settlement?

If you have been involved in an accident, it is a matter of principle that you can pursue compensation for any losses and/or injuries, no matter how minor. Any time you suffer because of someone else’s recklessness or carelessness, the offending party should be held responsible. It doesn’t matter how “serious” or costly your losses – you still deserve fair recompense.

However, the amount associated with your losses will have bearing on how you go about securing this compensation. For smaller claims, the easiest way to secure compensation for losses is to file a claim with the liable party’s insurance provider.

You will need to consider the following factors in order to have an idea of how much to ask for:

  • The amount it would take to repair any property damage
  • The amount of any wages you have lost while missing work during recovery
  • The amount you currently owe in medical bills
  • An estimation of the amount you will owe for future medical care related to the injury

If the insurance company will cover all or nearly all of your expenses and your injury is not severe enough to cause you to miss work, it may be worth it to go this route. If, however, you have a very painful or disfiguring injury, or will have significant out-of-pocket costs, it is definitely a good idea to consult with a lawyer and talk about the possibility of a lawsuit.

Because a lawsuit can be a lengthy and costly process, you will have to discuss with your attorney whether the amount you are seeking is worth litigation. For example, a claim for a few hundred dollars may best be resolved outside of court, but a claim reaching into the thousands may be worth litigating.

Consider these costs when deciding the best course of action:

  • Filing fees
  • Expert witness fees
  • Medical transcript ordering fees
  • Attorney fees

Of course, the best way to make a determination either way is to contact Goodman Acker P.C. and speak with a Detroit personal injury lawyer about your case. We offer complimentary initial consultations and do not charge any attorney fees until a recovery is made on your behalf. Schedule your appointment by calling our firm at (248) 793-2010.

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