One of the main concerns when filing for a personal injury settlement is the final payout. The value usually depends on the intricate set of circumstances surrounding the case and the type of accident. This means that there is no average settlement for personal injury, as the amount varies significantly between cases.

Reaching Personal Injury Settlements

Most personal injury cases end with the plaintiff receiving a payout after the defendant agrees to pay. This usually happens before the case goes to trial.

Sometimes the case can go to trial, which can be a long, expensive, and risky process for all the involved parties. When both parties determine the case value and estimated worth, the settlement is reached.

Insurance adjusters and personal injury lawyers use their knowledge and experience to determine the final amount. They usually consider all the unique details of the case to reach an estimate. Sometimes the decision is based on precedent as well.

The two parties will negotiate the final amount via settlement offers and demand letters depending on circumstances until they all agree. Both parties will sign a settlement agreement if the plaintiff wins, after which they cannot pursue compensation for the case any further.

What Does the Settlement Cover?

Most people seeking personal injury settlements are usually those who have suffered injuries or damages in an accident. The more severe or extensive the injuries and damages are, the higher the amount of compensation the plaintiff will seek. The amount should cover the cost of treatment and any other expenses the plaintiff incurred after the accident.

Here are some of the damages the settlement can cover:

• Current and future medical expenses
• Pain and suffering
• Punitive damages
• Emotional distress
• Property damages
• Lost wages during treatment and in the future

Average and Median Personal Injury Settlement Amounts

There is a significant range in the average personal injury settlement amounts. The amount will depend on various factors that affect the value, including the specific details unique to your case. The average personal injury settlement can range between $3,000 and $75,000. However, the amount can be higher or lower depending on your case.

Some cases with unique circumstances and extensive damages can even settle for millions of dollars. It’s essential to have an open mind when estimating the value of your claim since there are different categories of damages. A local Carmel personal injury lawyer can help you evaluate the types of damages to use in your claim.

The median settlement for a personal injury case is about $52,000. However, due to the various factors that may affect the case, you cannot necessarily rely on this figure.

Factors Affecting Settlement Value

The value of a settlement depends on the specifics of the case. Although two cases may appear similar, the settlement offer they reach can be vastly different due to certain details. The most important factors that influence the offer include the extent of injuries and damages, liability, and legal representation.

The Extent of the Injuries and Damages

The seriousness of the injuries sustained by the plaintiff and other damages will determine the payout received. Generally, severe injuries and high medical expenses lead to higher payouts.

Other factors like lost income and compensation for pain and suffering can lead to high settlements. Punitive damages can be included if the defendant acted intentionally or with gross negligence.

Liability

The strength of your case also comes into play as both attorneys will look at who was responsible for the accident. If it is not clear who was a fault, the case may go to trial, and the plaintiff can lose the case.

Legal Representation

Hiring a personal injury attorney can increase your chances of getting high compensation. Lawyers can help you gather enough evidence to build a strong case and deal with insurance adjusters.

Final Thoughts

A personal injury attorney can help determine an estimate for a settlement offer after a careful review of your case. However, the reality may exceed your expectations. The fact remains that you will have a clear view of the settlement offer only as the case concludes. Yet, with a skilled legal expert on your side, you have better chances of securing a fair offer.

With a law degree under his belt and years of experience, Mark Scott set off to make the law more accessible to all. He decided to help people lost in the maze of legal terminology to find their way. Mark writes clear and concise pieces and gives simple advice that is easy to follow. On account of positive feedback from readers, he decided to dedicate more of his time to this goal and became a legal columnist. In his writings, Mark covers a wide array of topics, like how to seek legal counsel, or how to deal with different procedures. Furthermore, he directs his readers toward other trustworthy resources for more in-depth information.