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How Much Can I Expect to Make from My Personal Injury Case?

Compensation for personal injury claims varies widely, depending on the severity of the injury. While one person may only receive a small settlement, someone else might be awarded millions of dollars. While there are no set amounts, depending on the kind of personal injury case you have, you can make some assumptions as to what kind of settlement you would be awarded if you filed a lawsuit. To give you an idea, read on.

Determining the Value of Your Personal Injury Claim

When deciding how much compensation to seek for your personal injury claim, it is important to thoroughly examine all angles of your case. The value of a claim depends on both economic and non-economic losses stemming from the injury.

Economic Damages

Economic losses include things like:

  • Medical expenses – This encompasses ambulance fees, hospital bills, medications, medical equipment, physical therapy, future medical costs, etc. Be sure to include all receipts and documentation. Someone with a minor injury such as a broken arm can expect to receive in the region of $5k whereas a medical malpractice settlement is, on average, $679,000.
  • Lost income – Calculate income you lost due to missing work because of your injury. Also, factor in future loss of earning capacity if your injury prevents you from working the same job.
  • Property damage – If any property was damaged in the incident, include repair or replacement costs here.

Non-economic Damages

Non-economic damages are more subjective but still influence the claim value. These include:

  • Pain and suffering – Compensation for any physical pain and mental/emotional suffering. Typically calculated per day.
  • Loss of enjoyment of life – Money for experiences and activities you can no longer enjoy because of disability from the injury.
  • Loss of consortium – Compensation if your injury interferes with family relationships.

Personal Injury Settlement Offers

The first settlement offer in a personal injury case from insurance companies is usually more conservatively low. Don’t panic; this is just their starting point. Your attorney will negotiate back and forth, providing evidence to justify a higher settlement.

Be patient, as the process may take months. Keep expectations realistic, but don’t accept less than you deserve. Settlements should cover all calculated losses plus damages for things like pain and suffering.

Going to Court

While most tort cases don’t go to court – less than 5% – if settling out of court is impossible, your case can go to trial where a judge or jury will determine financial awards based on arguments and evidence. Awards may be higher, but court cases take much longer (sometimes years). In addition, there is no guarantee you will win your case if it goes to court. Success rates are only about 50%, with car accident injury cases most likely to have a successful outcome (61%), and medical malpractice cases the least likely (19%).

Work with a Skilled Personal Injury Attorney

Speak to your attorney about what to realistically expect from your settlement or court award amount based on your specific losses and circumstances. Every personal injury case is unique. With a strong claim and skilled legal guidance, you can seek the maximum compensation.