Rhode Island Lawsuit Loans
Uplift Legal Funding provides non-recourse lawsuit loans in Rhode Island. With a population of 1,056,298, Rhode Island is the 12th largest state in the United States, and ranks 3rd for per capita fatal injuries (D.C. included).
Because funding regulation is complex, Uplift developed a funding-ease scale. This scale helps plaintiffs understand what part their state plays in lawsuit loan decisions. On a scale of 0 to 10, Rhode Island scores a 9.2. This means that we consider it relatively easy for plaintiffs to get lawsuit loans in Rhode Island. Read more information below about the legal funding environment in Rhode Island.
Rhode Island Personal Injury Statistics
Rhode Island has a yearly injury death rate of 63.3 per 100,000. This places Rhode Island much higher than the national average of 60.1, by about 5.4%.
Rhode Island residents drive an estimated total of 8 billion miles yearly, which means that the average resident drives about of 7,416 miles per year. To compare, that’s 23.0% lower than the national average of 9,630 miles per year.Aside from miles driven, local seatbelt use and drunk driving habits play a large part in the car accident death rate. In Rhode Island, residents are fairly bad when it comes to buckling up, reporting a usage rate of 78.0%.
The drinking rate in Rhode Island, measured as the percent of people who reported drinking too much before driving in the prior month, is 29.9% higher than the national average of 1.8% at 2.4%.
Partly because of these factors, Rhode Island’s car accident fatality rate is 4.3. This compares favorably to the US national average of 10.9, and costs the state $84 million yearly.
Rhode Island Lawsuit Funding Cheat Sheet
According to Title 9, Ch. 1, Sec. 9-1-14; the statute of limitations for personal injury cases in Rhode Island is 3 years. This means that you may lose the right to sue if you do not file your legal claim within that time-frame. Different states follow slightly differing comparative negligence statutes. In Rhode Island, the guideline is pure comparative fault. Basically, this means that plaintiff’s negligence affects right to recovery –
R.I.G.L. § 9-20-4. Often, for legal funding requests early-on in a case, companies providing lawsuit loans in Rhode Island must assume state minimum policy limits of:
- $25,000 bodily injury liability per person
- $50,000 bodily injury liability per accident
- $25,000 property damage liability per accident
- $25,000 uninsured motorist coverage per person
- $50,000 uninsured motorist coverage per accident
- $25,000 uninsured motorist property damage coverage
Regulation of Lawsuit Loans in Rhode Island
This bill makes legal funding subject to state usury statutes.