Have you been in a personal injury? You might wonder about personal injury settlement accounts if you’ve been injured due to someone else’s negligence or carelessness.
While you might think about suing to recover your expenses, you might also wonder about the money involved. How much does someone have to pay as damages and get a settlement?
We’ll talk about some facts below. Feel free to read on to learn more.
Common Compensation in Personal Injury Cases
Common compensation in personal injury cases can include reimbursement for medical bills, lost wages, and pain and suffering. There are cases where a victim’s injury is particularly substantial and results in permanent disability.
Then, there are additional compensatory payments for future medical care. Also, the loss of earning potential and changes in quality of life can be included.
If a careless, negligent, or intentional act causes a person to become injured, the responsible party may also be liable for punitive and emotional distress damages. The amount of compensation offered in a personal injury claim is determined on a case-by-case basis. It depends on specific damages sustained and evidence available to prove liability. It may also increase or decrease depending on the details of the case and the strength of the evidence presented.
Factors Impacting Settlement Amounts
The average settlement amounts depend on numerous factors. They all influence the amount of a settlement. These factors include:
- victim’s extent of injuries
- the total amount of medical bills
- lost wages incurred
- amount of fault attributed to the defendant
- the expected amount of compensation the defendant can pay
- the victim’s age and life expectancy
- the strength of the victim’s legal case
They all impact settlement amounts. Generally speaking, the more severe the injury, the more extensive the damages, and the more significant the fault attributed to the defendant, the higher the settlement amount.
Average Amount One Can Get from Settlements
The average personal injury settlement can range anywhere from a few thousand dollars to several hundred thousand dollars, with an average amount of $50,000 to $150,000. This amount can be increased if the injury caused long-term complications or disability. It’s important to remember that the amount of a settlement can also vary depending on the jurisdiction, insurance coverage, and other factors.
Effect of Legal Representation
For those who hired legal services, the average settlement amount is typically higher than for those who do not have the best attorneys. Established personal injury attorneys, like slip and fall attorneys, can help victims navigate the legal processes involved. They can determine a fair settlement amount for their case.
They can negotiate a higher settlement through the use of expert opinion. They can negotiate to prove the victim’s claim is legitimate. A person who is represented by an experienced attorney is more likely to receive a fairer and more beneficial settlement than someone who lacks legal representation.
Understand the Factors That Affect the Personal Injury Settlement
A personal injury settlement varies drastically depending on the circumstances of the injury or the financial loss. Knowing what to expect from the settlement can help those who have been injured in an accident.
Although it can be difficult to put a dollar amount on the value of an injury. But understanding different factors about the settlement amounts can help evaluate one’s situation.
If you or a loved one have recently suffered a personal injury and you’re considering filing a claim, don’t hesitate in contacting and hiring a lawyer for a free consultation.
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