The average settlement for a motorcycle accident can greatly vary due to a multitude of factors. The severity of injuries, the extent of property damage, whether the other party is fully insured, and the laws in the jurisdiction where the accident occurred can all significantly influence the settlement amount. Furthermore, whether the case is settled outside court or goes to trial also has a substantial effect on the payout. The best way to file motorcycle accident claims is to contact a lawyer and understand your case first.
The average settlement for a motorcycle accident in the United States could range from a few thousand dollars for minor accidents to several hundreds of thousands or even millions of dollars for severe accidents involving long-term injuries, loss of income, or wrongful death.
How Do I Calculate a Chicago Motorcycle Accident Settlement?
Calculating a settlement for a motorcycle accident, whether it occurs in Chicago or elsewhere, typically involves assessing multiple factors. While I can provide a general outline, you should consult with an attorney or a personal injury specialist for advice specific to your case.
- Medical Expenses
- Lost Wages
- Pain and Suffering
- Property Damage
- Loss of Consortium
- Punitive Damages
After you’ve calculated the total cost, you’ll also need to consider who was at fault for the accident. Illinois uses a “comparative negligence” rule, which means your compensation may be reduced by your percentage of fault. If you were 20% at fault, for instance, your compensation would be reduced by 20%.
Lawyers Charge for Motorcycle Accident Claims in Chicago, IL?
Most personal injury lawyers, including those in Chicago, Illinois, typically charge on a contingency fee basis. This means their legal fee is a percentage of the settlement or court award if you win your case. If you do not win or settle your case, they do not get paid.
As of my knowledge cutoff in September 2021, this percentage typically ranges from 25% to 40%, but the average is often around one-third (33.33%). The exact percentage may vary depending on factors like the complexity of the case, whether the case goes to trial, the lawyer’s experience and reputation, and more.
What Is Your Case Worth?
When you are involved in an accident that causes serious injuries, your first thought is typically, “What is my case worth?” The answer to this question depends on several factors which must be carefully evaluated by our experienced attorneys at Phillips Law Offices, motorcycle accident, and injury lawyers. Factors such as the severity of your injuries, the amount of medical bills you incurred due to the accident, and the effect the injury has had on your life all contribute to how much your case may be worth.
At Phillips Law Offices, motorcycle accident, and injury lawyers, our goal is to ensure that you receive a fair and just settlement. We take care to evaluate every detail of your case before providing an estimate of its value. Our experienced team will assess every element of the accident in order to give you the best chance for a successful outcome. With highly qualified legal staff on hand to advise you throughout each step of the process from filing a claim up until a final ruling has been made, give us a call today so we can help determine what more information we need about your particular situation in order to determine just how much compensation you should receive.
Impact of Insurance Companies in Determining the Settlement Amount of Motorcycle Injury Cases
Insurance companies play a significant role in determining the settlement amount of motorcycle injury cases. One of the primary ways they do this is by assessing liability for the accident. Their investigators look into the circumstances surrounding the accident to determine who is at fault. The outcome of this assessment can drastically impact the potential settlement amount. For instance, if the insurance company’s investigation reveals their client (the insured party) was not primarily at fault, they may offer a lower settlement amount.
In addition to determining liability, insurance companies evaluate the damages. They typically use a complex series of formulas and actuarial data to assign a monetary value to the injury claim. Factors such as medical expenses, property damage, lost wages, and even intangible factors like pain and suffering are factored into the equation.
The Advantages of Hiring a Lawyer
Hiring a lawyer for a motorcycle accident case can offer several advantages. One of the primary benefits is the legal knowledge and experience that an attorney brings to your case. Personal injury law can be complex, and a seasoned motorcycle accident attorney can help navigate the intricate legal landscape. Attorneys are skilled at dealing with insurance companies, which frequently aim to minimize their payouts. An experienced lawyer knows how to negotiate effectively with these companies, ensuring that you get a fair settlement. They can counter low-ball offers and aggressive negotiation tactics with facts and legal statutes.
There are numerous advantages to enlisting a lawyer’s services if you pursue a case against those accountable for your ordeal. As you contemplate whether to initiate a claim, considering the potential benefits of legal representation is crucial.
Get the Compensation You Deserve After Chicago Motorcycle Accidents Occur
After experiencing a motorcycle accident in Chicago, it’s paramount to ensure you receive the compensation you’re entitled to for your injuries and losses, even though the process can be complex and stressful. The first crucial step is to seek immediate medical attention, irrespective of whether your injuries seem severe or not. This is not just important for your health, but the medical records obtained can provide significant evidence when filing your claim.
Once your immediate medical needs are taken care of, it’s important to report the accident to the police. The ensuing police report can be a valuable piece of evidence when navigating through the process of your insurance claim or any potential lawsuit. It’s also beneficial to document the scene and injuries, if possible. This can include taking photographs of the accident site, your injuries, and any damage to your motorcycle.
Let Us Help, Call Today
Our motorcycle accident attorneys at Phillips Law Offices are here to help make the legal process easier for you in the event of an accident. All of our lawyers are knowledgeable in Illinois’ personal injury laws and will work to pursue the full compensation that you deserve for motorcycle accident claims. We understand that dealing with your injuries can be overwhelming at times, with medical bills piling up and trying to manage your daily life on top of that. That’s why we keep you informed throughout your entire case, providing updates as necessary so that you can focus on getting better.
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