This can be a very difficult question to answer. The first point of action will be for the claims supervisor or manager to set aside a specific amount of money as a possible value of your personal injury case. This amount is typically called a “reserve.” Such reserves are the value that the insurance company has established on your claim and those reserve amounts may be modified as the case progresses.
In the most severe cases, the reserves may be equivalent to what are known as the policy limits. Policy limits are the limit amounts of liability that are established in the insurance policy of the person or persons who were the cause of your injury. A skilled Torrance personal injury attorney can further explain the valuation process.
During the beginning stages of the case, the insurance company will monitor your medical bills, lost wages and many other factors. The company will also take into account the quality of evidence that exists against their insured, the quality of your witnesses as well as their own witnesses, the extent of your liability in the case, and other important considerations, including previous injuries. And if you have previous injuries that are located in the same place as your current claimed injuries, the insurance company will certainly look into those prior medical records and go through them extra carefully.
Your personal injury attorney will be informed by the insurance company as the process progresses about the important factors that are being taken into consideration in your particular case. If you need a Torrance personal injury attorney, please call DA&D Law at (800) 257-6666 for a free consultation.