Have you suffered debilitating injuries in an oil rig accident? Are you pursuing compensation through an insurance or civil claim? If so, you may be anxious to know how much you could win; however, there is no average oil rig accident lawsuit settlement.
Too many variables could impact the amount of compensation you could recover. However, by reviewing these factors and discussing the details of your case with your personal injury attorney, you can gain insight into the value of your oil rig accident lawsuit settlement. When you do not have time to wait for your settlement funds to come in, contact our loan specialists at High Rise Financial to get an advance on your payout.
In This Article
Factors that Impact the Value of an Oil Rig Accident Settlement
Multiple factors could impact the compensation you could win in an oil rig accident settlement. Once you understand why these factors matter, you can determine how much your claim could be worth.
Types of Damages
To start, one of the most important factors that influence how much your oil rig accident settlement is worth are the damages you experienced. You are entitled to compensation for economic and on economic damages.
Your oil rig accident attorney will review these losses at length to ensure they account for every single one. Examples of common types of recoverable damages after an oil rig accident include:
- Lost wages
- Diminished earning potential
- Loss of household services
- Funeral and burial expenses
- Loss of employee benefits
- Ambulance bills
- Ongoing medical treatment
- Future medical care
- Healthcare equipment fees
- Costs of prescription medications
- Physical pain and suffering
- Mental anguish and emotional distress
- Skin scarring and disfigurement
- Loss of consortium
- Reduced quality of life
- Personal property damages
- Reputational damages
Insurance laws can also have an impact on the outcome of your case. Some states follow fault-based insurance laws, while others follow no-fault laws:
When you file a claim in a fault-based state, you file a claim with a Liable parties insurance company. In fault states, the liable party’s insurer covers specific types in amounts of damages. Generally, this includes personal property repair costs and your medical expenses due to the responsible party’s property damage and bodily injury liability coverage.
When you file a claim in a no-fault insurance state, you file a claim with your insurance company. Motorists in no-fault states must carry no-fault or personal injury protection (PIP) coverage.
Then, when involved in an oil rig vehicle accident, it does not matter who is responsible for causing the collision. You always file a claim with your insurance company. However, similar to fault insurance claims, the amount you can when is based on how much coverage you purchased from the insurer.
What Insurance Settlements Cover
Insurance settlements generally only cover specific types of economic losses. While certain insurance policies might offer protection for a loss of income or funeral and burial expenses, most insurance policies cover only vehicle repairs and medical bills.
Expect to be limited in your insurance settlement. If you can get more, great. If you need help, you can have your attorney negotiate with the insurance company and prepare to bring your oil rig accident case to court.
Whether You Are Eligible for Workers’ Compensation
Many oil rig accidents happen in work-related situations. If this happens, you might have grounds for compensation and benefits through your employer’s workers compensation insurance provider. Although most states require employers to provide employees with workers compensation, only some states have these obligations.
If you qualify for worker’s compensation, the insurance company will cover certain types and amounts of benefits, such as:
- Compensation for a portion of your lost income
- Total coverage of your medical expenses
- Vocational rehabilitation benefits
- Death benefits for surviving family members
Contributory Fault Laws
Every state has its contributory fault laws, which determine how cases are handled when injury victims share blame for the accident or subsequent injuries.
In states that follow comparative negligence laws, if you share blame for your oil rig accident injuries, your settlement will be reduced to your percentage of the blame. This means if you were found 25% responsible for causing the accident, your compensation would be reduced by 25%.
Modified Comparative Negligence
In modified comparative negligence states, there is a limit to the percentage of blame injury victims can carry. Every state’s threshold is different but generally ranges from 49% to 51%. If your portion of blame exceeds this limit, you will no longer have the right to pursue your case at trial.
In contributory negligence states, when injury victims share blame for the accident, they are prohibited from pursuing their case at trial. This means if the defendant can prove you share even one percent of the responsibility for the accident or your resulting injuries, you may not have a chance to present your case in court.
To apply for free, call (877) 735-0016
How to Access a Portion of Your Oil Rig Accident Settlement in Advance
Once you know how much your oil rig accident settlement could be worse, you might be hoping to get an advance on this phone, so you can start building your life. When you choose High Rise Financial, we make it simple:
To qualify for pre-settlement legal funding afternoon oil rig accident, you must meet the following requirements:
- You must be at least 18 years of age
- You need to work with a personal injury or worker’s compensation lawyer
- Your attorney needs to verify the value of your claim and the anticipated payout date
After reviewing your application and speaking with your lawyer, our loan specialists can approve your application and send your oil rig accident pre-settlement funds to your bank within hours.
Contact Our Loan Specialists to Apply for Oil Rig Accident Pre-Settlement Funding Today
Although your oil rig accident settlement may be coming in, you do not have time to wait. It would help if you did not have to struggle financially while your attorney fights to hold the liable party accountable.
Get an advance on your oil rig accident settlement when you reach out to High Rise Financial loan specialists for a lawsuit loan. Fill out our online application, complete our convenient contact form, or call our office to discuss the eligibility requirements.
Call or text (877) 735-0016 or fill out our form to apply today for free.