According to personal injury lawyer Jesse Minc, a personal injury occurs when someone is injured because of the negligent, reckless, or careless actions of another. That means a personal injury could be anything from a car accident, a slip and fall accident, medical malpractice, product defect, or more. That also means a personal injury can be devastating physically, mentally, and financially because the victim could suffer serious injuries that require expensive medical care.
Fortunately, the victim does not have to pay for those expenses out of their own pocket. That is because they have the right to file a personal injury claim against the insurance company of the party that caused their personal injury; they can even sue the at-fault party if that becomes necessary. However, Jesse Minc also recommends that the victim hire an experienced personal injury lawyer if they want to get the full settlement amount they are owed. And what should that settlement amount be? Keep reading to find out.
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Settlement Amounts in Personal Injury Cases
There isn’t really a typical settlement amount in personal injury cases because they can vary so much. Settlements can range from $3000 to hundreds of thousands of dollars. The reason is that there are a lot of factors that can affect the settlement amount, which means that there isn’t really an average or typical amount that a personal injury victim can expect. The amount they will receive depends on the unique circumstances of their case.
Factors That Affect The Settlement Amount
There isn’t a typical personal injury settlement because numerous factors can affect a victim’s compensation.
The Severity of The Injuries
The worse the injuries, the higher the payout. It isn’t hard to see why because more serious injuries require more extensive and expensive medical care. Plus, severe injuries could have other consequences, such as the victim being unable to work and earn a wage while injured. That means they would have to be compensated for lost wages as well.
Non-Economic Damages
These are the intangible, non-physical effects of the personal injury. They could include psychological conditions caused by the trauma of the accident, such as PTSD (Post Traumatic Stress Disorder), anxiety, depression, pain and suffering, and more. There are also things like the victim being unable to enjoy activities they did before. Since non-economic damages are not typically calculable, insurance companies and courts usually use different methods to calculate how much they are worth, and they are usually worth more than the measurable economic damages.
Some states operate under the comparative fault —aka comparative negligence — rule, which states that it is possible for each party involved in a personal injury to share some fault for the accident. When that happens, the victim is assigned a percentage of fault by the courts, and their settlement will be reduced by that amount. So, for example, if a driver runs a stop sign and t-bones another car, the victim of the collision would be owed compensation. But if it turns out the victim was speeding and wouldn’t have got t-boned if they were driving at the speed limit, then they would share some of the fault for the accident. So if they would have received $100,000 but were deemed to be 30% at fault for the accident, they would receive $70,000 instead.
The Available Evidence
The more evidence there is, the stronger your case will be. That is why you should gather as much evidence at the accident scene as possible, including taking photos and getting the contact information of any witnesses. Meanwhile, your personal injury attorney can go even further and get the police report of the accident, retrieve surveillance footage, and more.
Hire a Personal Injury Attorney to Help You
Many other factors affect the settlement amount, including the amount of property damage the victim experienced, the insurance policy limits of the at-fault party, and more. But one vital factor that can make a huge difference is a personal injury lawyer. An attorney gives you the best chance of getting the maximum settlement amount, so if you recently suffered a personal injury, hire an attorney ASAP to get the help you need.
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