If a property owner's negligence caused you harm, you may find yourself in the middle of a premises liability lawsuit. These lawsuits are common for dog bite injuries, slip-and-fall injuries, and tripping injuries, among others. Depending on the severity and value of your case, you may be in for a wait when dealing with the property owner's insurance company. Companies spend roughly $84 billion each year on insurance premiums, and the insurance companies are not willing to fork over cash without a fight. However, premises liability settlement funding can help; this funding gives you a cash advance against your future lawsuit settlement, so you can tap into cash you need while you deal with the court system.
Your Premises Liability Case and Pre-Settlement Funding
You have the reasonable expectation to remain safe when you're on someone else's property, but this is not always the case. Drowning, exposure to toxic mold, burn injuries, and other types of premises liability injuries can leave you unable to earn a living. Bills continue to arrive each month, regardless of your employment situation, and many injured people find themselves in dire straits financially while playing a wait-and-see game with big insurance companies. In these situations, settlement funding can provide the money you need to fill the void left by your usual income until you can receive the settlement you deserve.
Getting Cash Now with Premises Liability Litigation Funding
No two premises liability cases are the same. The expected payout for your case depends on the property owner's actual negligence, the extent of your injuries, your expected recuperation time, any medical costs associated with your claim, and the permanence and severity of your injuries or illness. According to the Insurance Information Institute, the average premises liability award in 2014 was $587,000, while the median award was $121,894. Jury trials tend to bring higher awards than those settled out of court, although most lawsuits are usually settled without going in front of a jury – although this doesn't make much of a difference in the length of time the insurance company takes to pay you.
Getting Approved for Premises Liability Litigation Funding
When you apply for premises liability lawsuit funding, you are essentially asking for a good faith advance against your proposed settlement. This advance is not a loan; there are no monthly payments to make, and there is no credit check or employment requirement for applicants. The merits of your case serve as collateral for your pre-settlement cash advance. If your case falls flat, you are not held responsible for repayment. If you successfully win your case, you repay the advance from the proceeds.