Personal injury settlements can be complex to tackle because each case is unique and comes with its own set of circumstances, injuries, damages, etc. One of the most important and common questions that come to mind is, “How much will be compensated?” While the answer can vary from claim to claim, having an understanding of how personal injury settlements are determined can help provide insight into your case.
What Is a Personal Injury Settlement?
A personal injury settlement is an agreement meant to compensate an injured party for their losses such as medical bills, lost wages, pain and suffering, property damage, and more. This is usually negotiated between the at-fault party’s insurance and the injured party.
Factors That Impact a Personal Injury Settlement
While a personal injury settlement can vary significantly, it’s important to note that it is usually a similar set of factors that determine that final settlement amount. Here are some of the most common elements that affect settlement amounts:
- Severity of injuries
- Medical expenses
- Lost wages
- Pain and suffering
- Property damage
- Comparative fault
- Insurance policy limits
- Legal representation
How Much to Ask for in a Personal Injury Settlement?
Since personal injury settlements are unique to the case presented, you may be wondering how you or your lawyer know what amount to ask for from the at-fault party.
It’s important to consider all of the factors previously mentioned. For example, if your injuries are minor or severe, if you are unable to work temporarily or long-term, the damage caused by the accident, and so on.
To determine a fair settlement amount, you should:
- Document whenever possible. Collect any and all documentation related to your injuries and losses. This includes everything from the police report that was filed to your medical bills to the receipts for repairing your vehicle.
- Calculate damages. Calculate the total cost of medical treatment, lost wages, and property damage. This should also include any future expenses such as ongoing rehabilitation or therapy and any future wages you expect to lose.
- Account for pain and suffering. Any physical, mental, or emotional distress or loss of enjoyment of life can also be considered when determining a fair settlement amount.
- Consult an attorney. An experienced personal injury attorney can help you determine a fair settlement based on the specifics of your case. They will have the best idea of what you can include in your ask and can help ensure that you are not missing out on any losses.
Learn more about how you can maximize your car accident claim in our blog post here.
Personal Injury Settlement Examples
You may still be curious about compensation when it comes to personal injury cases. Our firm’s overall average settlement amount across all personal injury cases we’ve represented is around $30,000. However, this can vary significantly from case to case. To provide some context, here are a few examples of personal injury settlements we have obtained for clients in the past:
- $500,000 for a client who sustained multiple injuries after a balcony collapsed.
- $8,800,000 for a client who sustained a traumatic brain injury due to a defective vehicle.
- $765,000 for a client who suffered from a serious burn requiring skin graft surgery as a result of a defective stove.
- $50,000 for a client who sustained injuries requiring surgery after slipping and falling in a store due to water leakage from a freezer.
- $1,325,000 for a client who was involved in a car accident resulting in a head-on collision with a speeding vehicle.
As you can tell, the settlement amount for cases can vary greatly depending on the specific circumstances of the injury. For more examples to browse, check out our Results page.
Past results obtained on behalf of clients afford no guarantee of future results and every case is different and must be judged on its own merits.
Conclusion
Although average settlement amounts for personal injury cases differ greatly, understanding the factors involved in the determination and consulting with an experienced personal injury lawyer can help ensure you receive the compensation you deserve.
If you or a loved one has suffered a personal injury due to the negligence of others, our team is here to fight for your rights. The trusted attorneys at DiPasquale Moore will guide you through the claims process. With over 100+ years of collective experience, we know how to fight on behalf of our clients and get them the compensation that they need to get back on track. Get in touch for a free initial consultation.