The Provident Lawsuit Loans team works hard to get plaintiffs funding on their claim in as little as 24 hours. With your attorney’s help, we can provide fast cash relief.
After you apply, we reach out to your attorney to gather information about your case. If your attorney or case manager is able to speak to us about the case over the phone, we are sometimes able to have funding decisions in minutes.
For larger lawsuit funding amounts, we collect some basic documentation that shows the strength of your case. Typically, we like to see a traffic accident report, witness statement, or photos of the accident to establish liability.
After we have collected all relevant documentation, we can get you funding within 24 hours of approval.
What are the approval factors for motorcycle accident lawsuit funding?
If you are in the middle of a motorcycle accident lawsuit, there is a pretty good chance that you already qualify for a lawsuit loan. Even if your legal action is in its infancy, it’s pretty easy to determine if you are qualified.
Just ask yourself these three questions:
Is the other party liable?
Generally, a police report will declare who is at fault on the scene. If that’s the case, approval will be easy. To offer such low rates, Provident Lawsuit Loans can only accept clear-cut cases, to eliminate risk. In motorcycle accidents liability may require the assistance of an accident recreation specialist.
Have you hired an attorney?
If you haven’t hired legal counsel yet, that needs to be your first step, and they must be willing to work on contingency. If number one is true, then finding an attorney on contingency will not be a difficult matter. We require that you have an attorney in order to qualify for lawsuit funding for several reasons:
- Repayment – after you have won your case, the attorney is the one responsible for the repayment of pre-settlement funding
- Documentation – Additionally, in order to approve your case pre-settlement funding, your attorney must send us documentation
Are there damages?
Physical injury is crucial for us to be able to assign a value to your case. Damages like emotional trauma can be hard to measure, and therefore are impossible to assign a dollar amount to. Therefore if you have had surgery or injections then you qualify for pre-settlement funding. As long as you have some form of treatment due to injuries (chiropractic, physical therapy, etc.) you will qualify for a motorcycle accident lawsuit loan.
Is there adequate insurance coverage?
While the actual insurance policy limits may not be made available until discovery, with serious injuries, policy limits are an important consideration. If the car that hit you is a government or commercial vehicle, this is less of a hurdle. Also, uninsured or underinsured motorist coverage (UIM) can be a life-saver. If you were struck by a private vehicle, don’t have UIM, and policy limits are not yet known, most lawsuit funding companies must assume state minimum policy limits. If the other party has insurance, or you have UIM, then you qualify for a motorcycle accident legal funding.
If you answered yes to these questions, your case easily qualified for a Provident Lawsuit Loans lawsuit loan. If you answered no to anything but number two, in which case you just need to go hire an attorney, securing legal funding will be difficult.
Motorcycle Accident Injury Statistics
According to IIHS, Motorcycle accidents have been on the rise as a percentage of auto accidents. The main reason for this is the heightened safety of modern cars. While motorcycle safety equipment has improved over time as well, there’s only so much that can be done. A modern chassis, airbags, and seat-belt go a long way to prevent fatalities.
The NHTSA estimates the motorcycle fatality rate to be as high as 55.5 per 100,000, as compared to about 1.2 per 100,000 for standard motor vehicles.
4,985 motorcyclists were killed in crashes in 2018, which is over twice the number of motorcycle accident deaths in 1997.
Helmets have reduced the risk of death by 37%-42% as shown in multiple studies.
We have listed some of the most common causes of motorcycle accidents in the USA.
- Cars making a left turn – the top reason for this accidents is cars making a left turn and failing to notice the motorcyclist
- Intoxicated driving – in 2017, drinking and driving contributed to 33 percent of the motorcycle accidents in America
- Dangerous roads – wet pavement, uneven roads, and potholes
- Hard to see – motorcycle rides are smaller and harder for cars to see
- Inexperienced drivers – inexperienced drivers are more likely to be in an accident
- Right of way – many cars fail to give motorcycles the right of way
- Lane splitting – it is legal in most states for motorcycles to lane split, or drive between cars in the lane dividers
Motorcycle accident injury reduction technology
Motorcycle safety has come a long way but it will never be a match for car safety devices.
As a result, a motorcycle personal injury claim will likely be a stronger case. This is only because a typical motorcycle accident will have severe injuries, and the more severe the injuries, the higher the case value. This means that motorcycle accident lawsuit loans have a high likelihood of being funded if they meet the other two requirements listed above.
Below we have listed the few technologies a person could get in order to reduce the number of injuries sustained in a motorcycle accident:
- Airbag vests and jackets – there now vests and jackets that come equip with ‘airbag’ like functions
- Bluetooth gloves – gloves that allow the driver to change driving directions with their hands
- Boots – boots are now built to absorb more shock, so after the motorcycle accident, an individuals’ lower half will have taken fewer damages
- Safer helmets – helmets are built to be more shock absorbent than they used to be in order to lessen the extent of damages in the motorcycle accident
Car accidents vs motorcycle accidents
While a motorcycle accident is more deadly to the motorcyclist, car accidents happen more frequently. We will detail the primary differences between motorcycle accidents and car accidents.
Car accidents happen extremely frequently, this is because the average American will drive over 10,000 miles in a year. As a result, the injuries range from nothing but property damage to as severe as traumatic brain injury. This is partially because of the new technology in cars that helps prevent injury. Some of the updates to cars that make them safer are:
- Automatic breaks – emergency braking that helps stop the cars from colliding
- Splintering cars – cars are now made to break on impact
- Automatic descent control – when cars are driving downhill to help prevent speeding and loss of control
- Blindspot detection – most cars come with sensors to alert the driver if there is something in the blind spot
There are even more updates an individual can add to their can in order to help reduce the likelihood of injury. So while car accidents have the potential to be extremely fatal, there are also many measures taken in order to prevent tragedy.
As detailed in the earlier section, there are only a few modern inventions that help reduce the likelihood of severe injury. As such, when a motorcyclist is in an accident, there is a high likelihood of there being severe injury, with little to no damage done to the passenger vehicle that hit them.
Some of the common injuries motorcyclist sustain are:
- Traumatic brain injury – injury to the brain that can result in permanent defects
- Spinal cord injury – injury to the spine that can result in paralysis from the affected area down
- Broken bones – bones are broken during impact or during the aftermath
While car accidents do have the potential to have these kinds of injuries, they are far more common in motorcycle accident.
What can I use my motorcycle accident lawsuit loan for?
Unlike some of the traditional loans you could take out, you can use lawsuit funding for whatever you wish. This can be in the form of:
- College tuition
- Child support
- Medical bills
You can use the personal injury pre-settlement funding for whatever you deem necessary. You don’t even have to spend the money if you don’t want to. You can choose to keep it in your bank account in order to give you peace of mind.
What happens if my settlement is smaller than my motorcycle accident lawsuit loan?
If your personal injury settlement is smaller than the amount of pre-settlement funding you received then you do not have to pay the full amount back.
You never have to pay back more than you receive. Likewise, you will never have to pay back more than twice what you took out in pre-settlement funding.
How to find the best motorcycle accident lawsuit loan
There is a rather simple process to know you have the best legal funding company. You can achieve this by doing the following:
- Ask rates – ask rates, companies should be upfront about them
- Employees – rude employees are a red flag
- Attorney – the company should need attorney cooperation
- Documentation – if the company doesn’t ask for documentation, it’s a red flag
If you think you found a better company, send us their contract we’ll beat it!
Motorcycle Accident Lawsuits
Depending on the insurance policy limits of the defendant, even with substantial damages, your lawsuit value might be constrained. If the defendant is a commercial or government entity or has substantial insurance coverage, then it is more likely you will have a large payout.
If you are in the midst of a personal injury lawsuit, consider getting pre-settlement funding with Provident. We can get you funding within 24 hours of approval.