While it is true that, in an accident involving injury, the victim should receive a fair and FULL insurance settlement from the insurance company for the responsible party. A detailed study conducted by the Insurance Research Council (IRC), concluded that the payouts in personal injury claims were higher when the victim was represented by a personal injury attorney. Another study conducted by the All-Industry Research Advisory Council (ARAC), found similar evidence – this makes it clear that accident victims are not receiving the right compensation amounts, unless they have legal representation. Having an attorney statistically yields a larger monetary settlement.
If you or a loved one has been seriously injured in an accident (whether involving a motorcycle, distracted driver, premise liability, or car accident) in Lee Summit, you should speak with a personal injury attorney.
IRC Study
The study by IRC examined 6,000 claimants injured in car accidents across the country. They looked at their injuries, the extent of their treatments and economic losses, and the total reimbursements that they received for those injuries. One of the details that they focused on primarily in the study was the settlement amounts from insurance companies.
The results showed that plaintiffs with an attorney received settlements that were, on average, 40 percent higher than plaintiffs who did not have legal representation. This is a large discrepancy, and shows the value alone of hiring a personal injury attorney.
Behavior and Insurance Costs
Another report that was issued by IRC also looked at the relationship between insurance settlements and legal representation. The report had even more alarming numbers than their original study. In this report, the IRC found that an estimated 85 percent of settlements paid for bodily injury by insurance companies were paid to victims who had legal representation. In addition, the total amount paid on those claims was 3.5 times higher than those paid to plaintiffs without an attorney. For example, a person with an attorney would receive $35,000, while someone without an attorney would only receive $10,000. This is a drastic and unfair difference to plaintiffs. It also shows that insurance companies will use the fact that a victim doesn’t have an attorney to their advantage.
A Personal Injury Attorney (with a track record of success) Does More Than Just Even The Playing Field
If you have been seriously injured, the statistics show that you cannot afford to go at it alone. An attorney will that ensure you are compensated for all of your damages, including mental anguish, stress, emotional distress, and more. In addition, your attorney will aggressively fight to ensure that lost wages and future medical costs are covered, so that you do not have to worry about what you may lose in the future. Horn Law is here to help you achieve the settlement that your case is worth. Get started with a free consultation by calling us at (816) 795-7500 or filling out our online contact form with your legal questions.
