What is the Average Settlement for a Personal Injury?

The average personal injury settlement can range from $3,000 to $75,000. Many factors can impact a settlement amount, such as the severity of the injuries, insurance policy limits, how much time was missed at work, and the accident victim’s prognosis, among other variables.

How Do Settlements Work?

When you’ve been involved in an accident that results in damages, you must pursue compensation for your accident-related losses. To pursue compensation, you must file a claim against the negligent party's insurance provider.

Most personal injury claims are based on:

• Auto accidents
• Truck accidents
• Motorcycle accidents
• Bicycle accidents
• Pedestrian accidents
• Slip and fall accidents
• Wrongful death
• Medical malpractice

A common misconception is that most personal injury cases go to trial, when in fact, approximately 95% of those cases are settled out of court.

How Are Damages Determined in a Personal Injury Settlement?

The average personal injury settlement varies greatly. The value of economic and non-economic damages can depend on several factors, such as:

• The accident victim’s age
• Their career
• Their prognosis
• Whether they sustained a permanent injury
• Whether they must change careers due to their injuries
• Whether they can return to work at all
• What type of medical treatment they may require in the future
• The extent of property damage

And other variables.

What Types of Economic and Non-Economic Damages Can I Pursue?

Your personal injury lawyer can investigate the accident and assess your case to determine which damages you should pursue and the value of those damages.

Damages you may be entitled to include:

• Pain and suffering
• Past and future medical bills
• Lost wages
• Loss of consortium
• Emotional distress
• Loss of quality of life
• Lost earning capacity
• Permanent injury
• Scarring and disfigurement
• Loss of enjoyment of life

And more.

How Are Personal Injury Settlements Paid Out?

Most settlements are paid out in structured payments that follow a schedule or they’re distributed in one lump sum.

Lump sum settlements allow the accident victim to receive the full settlement amount at once. This type of payment arrangement can take 6-12 weeks to receive.

With a structured settlement, you’ll receive regularly scheduled payments. You can choose between annual, quarterly, or monthly payments, with a specified end date.

Should I Hire a Personal Injury Lawyer to Handle My Settlement?

It can be challenging to handle settlement negotiations without legal representation. Insurance companies have claims adjusters with decades of experience negotiating with accident victims and attorneys. The negotiation process can be frustrating and time-consuming, especially if the claims adjuster refuses to make a reasonable offer. When you hire a personal injury lawyer, they will handle all interactions with the insurance company, including settlement negotiations. Attorneys also have extensive experience negotiating with insurance companies and will not back down until the insurance company makes a fair offer.

Another issue that can arise if you decide to handle your claim without legal representation is not knowing the value of your case. You may end up accepting a settlement offer that you think is fair, but in reality, it doesn’t cover the total cost of your accident-related damages.

An attorney will consult with experts as they investigate your case to ensure you pursue every penny of compensation you’re owed. This means, when you hire a personal injury attorney to handle your case, you have a much higher chance of recovering the damages you’re owed.

Contact Us Today!

If you've been injured in an accident, don't wait to get help. Contact us today to schedule a free consultation with one of our experienced accident attorneys. We will listen to your story, answer all of your questions, and provide you with the legal guidance and support you need to recover fair compensation for your injuries. With our help, you can focus on your recovery while we handle the legal aspects of your case.