Our Tulsa personal injury attorneys explain how you may be entitled to additional amounts of compensation by filing a PI lawsuit that you would in an insurance company settlement.
When personal injuries occur in Tulsa, insurance policies you have in place may help to offset losses. However, be aware that once you accept a settlement, you waive your rights to any future compensation. Before accepting less than need to recover or are entitled to by law, speak with our Tulsa personal injury lawyers first about your rights in filing a PI lawsuit.
Dealing With Insurers Over Personal Injuries
Automobile or other types of insurance policies you have can compensate you in the event an accident leaves you suffering serious personal injuries. You may also be entitled to compensation through insurance companies representing others involved but before accepting any settlements offered, be aware of how insurance companies work.
According to the Insurance Information Institute (III), the insurance industry is worth an estimated $1.28 trillion dollars. In addition to charging high policy premiums, one of the ways they protect their profits is by reducing the amount paid out in claims. Insurance company claim denials are common and even if they do approve your claim, it is likely to be less than what you deserve. Filing a personal injury (PI) lawsuit is often the best option. This can entitle you to additional amounts, which may include:
- Economic damages, which cover actual costs associated with an accident. This includes your current medical bills and lost wages, as well as any future expenses or losses you are likely to suffer.
- Non-economic damages, which cover intangible costs. This includes pain, suffering, and any loss of enjoyment in life due to your injuries.
- Punitive damages, which is an additional amount we can push for if the person responsible for your accident acted in a particularly willful and negligent manner.
Get the Amount You Need to Recover in a PI Claim
Under the Oklahoma Statutes, punitive damages may be awarded by a jury in PI claims based on the following:
- The seriousness of the case and amount of harm done to the victim;
- The degree to which the at-fault party acted recklessly, willfully, and with wanton negligence;
- The seriousness of the hazard the behavior poses to the general public.
Punitive damages are designed to punish those at fault and to discourage others from engaging in similar behavior. An example is a car accident in which the at-fault driver was traveling at high rates of rate or had a high blood alcohol content (BAC) at the time of the crash. Depending on the specific circumstances involved, punitive damages can total up to $500,000 or up to two or three times the total amount of other compensation awarded.
Before Settling with Insurers, Speak With Our Tulsa Personal Injury Attorneys
Before settling and accepting less than what you are entitled to in an insurance claim, speak with our Tulsa personal injury attorneys first. Call or contact Boettcher, Devinney, Ingle & Wicker online to request a consultation today.