Home Health What’s the Average Personal Injury Settlement?

What’s the Average Personal Injury Settlement?

SHARE

If you’ve suffered an injury on account of another’s negligence, you may be entitled to compensation. Find out the average personal injury settlement.

Did you know that the most dangerous occupation is in the health care industry? In 2018 there were over 500,000 workplace injuries reported. If you recently suffered an injury because of someone else’s negligence you are more than likely entitled to compensation.

Keep reading to learn what the average personal injury settlement is.

How Much Is the Average Compensation Amount?

The amount of compensation varies on the type of injury you suffered and how much it impacts your life. The greater the impact and injuries the higher the payout. The amount can range anywhere from a couple of thousand dollars ($2,000) to over $25,000+. 

As we mentioned the more severe your injuries the more you can expect to receive. You may want to hire a personal injury attorney to ensure that you are paid what you deserve and to make sure that no one tries to take advantage or short change you. 

What Affects the Outcome?

There are several things that affect how much is paid out in a personal injury case. How serious your injuries are, are a huge factor because the more serious the injuries the higher the medical bills and expenses. The more severe the injuries it also means that the pain and suffering you are dealing with is much higher.

If you have to continue going to therapy in order to feel better then your compensation will also be higher to make sure that your future therapy sessions are covered. Another factor is whether you can go back to work or not. If you miss work due to your injuries and your job can’t accommodate you for lighter duty, you might end up receiving more money in order to make up for your missing time at work.

The limits that the insurance policy has will also affect the final payment. The insurance company will not offer a settlement that goes over the policy limits even when the case might be worth more. If you fall into a situation where you need more compensation than the insurance limits allow, an attorney can help you navigate that unique situation. 

Hiring an Attorney

The reason you want to obtain a lawyer early on is that they are familiar with the laws. They also know how to navigate the law system and understand the jargon and lingo that comes with dealing with insurance companies. 

This is probably the most important step to take after you are injured to increase your chances of getting compensated for any harm you dealt with. Before hiring an attorney make sure that they specialize in personal injury and that they have worked on multiple cases before taking your case. 

You also want to ask your potential lawyer before hiring them if they are comfortable with going to trial. Most cases are settled outside of court but if for some reason you can’t reach an agreement then the case goes to trial in front of a jury and a judge. If your attorney is not comfortable with heading to trial then look elsewhere for someone that is. 

How Long Is the Process?

The entire personal injury claims process can take between a few months to a year or longer. It depends on how complex the case is and if there were any severe injuries such as death or losing a body part. You might be tempted to settle as quickly as possible in order to receive compensation sooner but this might not always be the best decision.

Sometimes having patience will result in a larger court award and a fair settlement. Rushing into a settlement might leave you with much less than you deserve for what you suffered. 

How Are Settlements Reached?

A settlement is reached when the person that is being sued agrees to pay the person that is suing the other party. Most personal injury cases are ended with a settlement instead of a verdict from a jury. 

Like we mentioned earlier most are settled before a lawsuit is ever even filed. In order to reach a settlement, both parties have to start out by determining on their own what they feel the injuries are worth. Once both sides have an idea of what payout amount is acceptable then the negotiations begin. 

If both parties end up coming to an agreement on the amount being paid out and the amount being received then that’s when both defendant and plaintiff sign papers that they reach an agreement and give up all rights to pursue a legal remedy in the future. The goal is for you not to settle until you are satisfied with what you will be receiving. 

Keep in mind that insurance companies would prefer to settle out of court. If they are trying to negotiate and see that you are not budging on reaching a settlement and are serious about moving forward with court, they might give you exactly what you are asking in order to avoid going to trial.  

Ready to Fight for Your Personal Injury Settlement?

Now that you are familiar with the average personal injury settlement and the ins and outs of navigating a personal injury case, it’s time to find an attorney to have in your corner.

There is no reason that you should have added stress on top of your injuries. You have the right to stand up for your rights and fight to get what you deserve. 

Did you learn something new with our article today? Please check back soon to always stay in the know.