It’s estimated that an overwhelming $53.1 billion was tied up in personal injury lawsuits in 2022 alone.

Settlements for personal injury claims create such a big industry because it’s often challenging for the rightful claimant to collect the compensation they’re owed. In order to get what they deserve, injured individuals must take the time to build up a solid case, prove what happened, show the extent of their losses, and negotiate with the liable party.

If you’ve recently been injured in an accident that was someone else’s fault, you might be asking yourself whether filing a claim is the right decision.

To make that determination, you’ll want to know how much your claim might be worth. Learn more about average personal injury settlements and factors that might impact your body injury settlement award.

Understanding Average Personal Injury Settlement Amounts

In general, if you’re seeking out a bodily injury settlement, you won’t be able to collect more than you actually lost as a result of your accident. That said, your settlement award should accurately reflect the extent of your losses, which can be very substantial if you have long-term losses, significant property damage, or a permanent loss like a wrongful death situation.

The average personal injury settlement award varies on a case-by-case basis. This award can range anywhere from a few thousand dollars to around $75,000. If you have a serious case, then your award could be substantially higher than that.

Case Examples and Historical Settlement Data

Personal injury settlement statistics can make recovery amounts seem far lower than what you can receive depending on the extent of your accident. For instance, Kermani LLP handled a car accident claim in 2019 that resulted in a $1.3 million settlement for the client. The same year, a wrongful death claim was resolved for $7.5 million.

In 2016, Kermani LLP lawyers recovered a $4.43 million verdict in favor of our clients after seeking out a jury verdict over the issue of theft. That said, our attorneys are comfortable going all the way to trial and representing you every step of the way if the other party attempts to challenge your claims or evidence.

Similarly, our client was offered a $30,000 settlement in a 2014 case, but we took the case to trial and collected over $700,000.

Key Factors Determining Settlement Amounts

Are you wondering why and how the average settlement range is so different from case to case? In typical personal injury settlements, a host of different factors are all considered when calculating the overall value of a personal injury claim. In general, a case involving more serious losses is going to result in higher settlement amounts. That said, other factors also come into play, including what exactly caused the accident, the injured party’s level of fault in the incident, and the number of liable parties. Below, we’ll go over the key factors that will be considered when determining an appropriate settlement amount in your personal injury case.

Severity of Injuries

One of the biggest factors that impact settlement amounts is the severity of injuries present after the incident. Minor injuries are going to be easier and cheaper to resolve because there may only be a few medical bills and other losses associated with that injury.

More severe injuries are going to lead to more losses, which means a bigger overall settlement. Serious injuries with long-term recovery periods might lead to losses like:

  • Future medical costs;
  • Long-term loss of income;
  • Permanent disfigurement;
  • Emotional distress.

As you’d expect, certain types of accidents and personal injury situations are more likely to lead to more severe injuries and bigger settlement awards. For example, a truck accident claim is more likely to result in a higher settlement award than a minor slip and fall claim.

A doctor’s diagnosis will prove the severity of the injury. In serious situations, you may need a medical expert to testify on your behalf regarding the seriousness of your diagnosis and injury.

Economic Damages: Medical Bills and Lost Wages

The next factor that influences your settlement award is the overall amount of economic damages you experience. In general, this will be the first question you want to ask after wondering — how much is a personal injury claim worth? You’ll want to know exactly how much you lost.

personal injury settlement calculation

Economic damages are the losses you experience that are easy to assign a financial value to and easy to prove. The most common forms of economic damages come in the form of property damage, medical expenses, and lost wages. To prove these types of losses, you can produce documentation like your medical bills, repair estimates for your property, and wage statements from your employer.

Depending on your circumstances, you might experience other types of economic losses, like burial expenses, funeral costs, or future medical expenses.

Pain and Suffering Calculations

Another factor that could influence your settlement award is your level of pain and suffering. If you experience emotional distress or develop new mental conditions after an accident, then you can seek out damages in the form of pain and suffering. Typically, this is calculated by multiplying your total economic losses by a factor. This factor can range from 1.5 to 5 depending on your level of pain and suffering.

Fault and Liability in Injury Cases

Your overall settlement award will also depend on the circumstances of the accident. If you were partially to blame for the accident, you might also be considered partially liable for the losses. That said, there may be a negotiation over each party’s percentage of fault in the accident and level of fault. Your settlement award could be reduced based on your percentage of fault.

Insurance Policy Limitations

Your settlement award will also be influenced by insurance negotiations. Insurance adjusters have an incentive to minimize your claim, but they also can’t provide you with a bigger settlement than your insurance policy allows. If insurance policy limits are holding you back from getting fully compensated for your losses, your attorney can help you identify where else you might be able to seek compensation.

Trial Considerations and Outcomes

Legal procedures dictate that when negotiations fall through, a trial will take place. In general, cases that go to trial will result in higher payouts due to the time invested in the case.

The Structure of Settlement Agreements

After a successful claim, you can get paid in a few ways. Lump sum payouts give you the full amount you’re entitled to in one big check. You can also opt to be paid by structured settlements, which regularly send you a steady check for several years.

The Role of Personal Injury Lawyers in Maximizing Settlements

Personal injury claims are filed every day across America, and most will be resolved outside of a courtroom. Unless you’re prepared to negotiate with the other party, properly value your claim, and compile your case on your own, it’s usually best to hire a legal representative who can help.

When you’re experiencing accident-related losses, you might be wondering what role a personal injury lawyer plays in your case. Once you file a claim, any personal injury claims payouts will not come easy. If you hire a lawyer, they’ll take on all the legal aspects of your case. They’ll help you maximize your settlement award by leveraging their knowledge, experience, and expertise to your advantage.

Attorneys at Kermani LLP will help you determine exactly how much your case is worth. We’ll discuss what happened, the severity of your losses, and go over the impact the accident has had on your overall quality of life. Once you understand what your claim is worth, we can help you prove it by collecting the proper documentation and evidence. We’ll negotiate with the other party for you and help you secure financial justice.

Schedule a cosultation with our team now to get started on your claim for compensation.

What to Expect in the Settlement Process

First, you and your lawyer will have a personal injury consultation meeting where you’ll discuss your incident. Your attorney will help you decide if a claim is worth your effort based on the facts about your accident and losses. They’ll give you an idea of what type of personal injury lawsuit payouts similar clients have received in the past. If you hire a lawyer, they’ll work on building up your case, collecting evidence, filing paperwork, and getting started on negotiating your settlement as soon as possible. Most cases will be resolved during the negotiation period.

February 21, 2024

Ray Kermani
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