How Lawyers Determine Personal Injury Settlement Amounts

If you’re planning to file a personal injury lawsuit after a serious injury, you’re probably wondering about the permanent injury settlement amounts. Unfortunately, there are too many factors involved in different cases, making it difficult to determine the exact amount. 

All is not lost, though. By working with an experienced lawyer, you can receive a rough estimate of the permanent injury settlement amounts in your case.

Before we go into the factors that determine the final amount, we have to get the basics out of the way.

What Is A Personal Injury Settlement?

When you think about permanent injury settlement amounts, it usually refers to a scenario in which a defendant agrees to pay you money to drop the case. How much that is will depend on the agreement between all the parties involved.

For example, your lawyer and the other party must agree on the value of the case. This process will boil down to finding a middle ground between the estimate of your lawyer (based on the amounts juries have awarded individuals in similar circumstances) and the estimate by the insurance company (based on permanent injury settlement amounts they paid in the past).

After that, your lawyer and the insurance company will send exchange settlement offers and demand letters. When the settlement works for both parties, you and the other party will sign the agreement. Keep in mind that you can’t pursue further compensation after you agree to the personal injury settlement.

The Factors That Determine The Settlement Amount

Your lawyer will use several factors to determine the settlement you can recover, such as:

1. The severity of your injuries

The most important factor in your settlement is the severity of your injuries. They are usually broken down into the following tiers:

1. Tier 1: Severe and permanent injuries such as traumatic brain injuries, permanent disfigurement, and spinal cord injuries

2. Tier 2: Injuries like lacerations and broken bones

3. Tier 3: Soft tissue injuries like contusions, strains, and sprains.

Permanent injury settlement amounts will be higher than those for light sprains. This is only fair as with most soft tissue injuries, you can return to normal after a few visits to a physical therapist. A permanent injury, on the other hand, can be life-changing in the fullest sense possible as you may never return to your pre-injury state.

However, it’s still impossible to come up with average numbers due to specific details. For instance, if an individual breaks a leg in an accident, they may require additional treatment, especially if they have any pre-existing medical conditions or are older. 

2. Economic losses

When considering permanent injury settlement amounts, your lawyer will include economic losses such as medical costs and lost wages into the equation. 

You can recover both medical expenses that occurred as a result of your injuries, as well as expenses you might incur in the future. This covers doctors' visits, out-of-pocket expenses, surgical costs, therapy, and so on.

With lost wages, you can claim compensation for time lost from work and the time you may reasonably expect to lose in the future. Furthermore, personal injury settlement amounts will always be higher as you’ll be unable to return to work or even return to the same position. 

3. Non-economic losses

Not all losses are materialistic, which is the case with pain and suffering. You can recover compensation for the loss of enjoyment of daily life, along with the mental and physical anguish you endured during your injury. 

When coming up with a reasonable amount, your lawyer will consider numerous factors, such as:

1. How long will you be recovering from your injuries and if will you require additional treatment in the future

2. If your injuries chronic

3. If your injuries have affected your daily activities to such an extent you can no longer perform them

4. If you have any adverse mental health effects, such as PTSD as a result of the accident

4. Liability

The person that caused the accident is usually the one that ends up paying for the injuries. So if there is evidence that you were also partly responsible for the accident, the other party will try to avoid paying the full settlement.

You should keep in mind that if the liable party caused the accident through their negligent actions, the full dollar amount will be reflected in the settlement.

5. Available insurance coverage

Since insurance is the main source of recovery in many cases, the coverage available will depend on the liable party and their insurance policy. For instance, your settlement amount may be affected by the limits of the liable party's insurance policy, which in turn depends on the insurance that an individual can afford.

This is why an experienced lawyer is key, as they can uncover different policy limits and negotiate with the insurance company to ensure your settlement is fair.

6. Are you prepared to take the case to trial?

Since a trial is complex, expensive, and physically taxing (particularly  if you are still recovering from your injuries), both you and the other party will try to avoid it. Additionally, once the court goes to trial, the jury will decide how much money you’ll be rewarded - which can be unfavorable for both parties, depending on the circumstances.

Those are the main reasons why you should preferably settle the affair off-court.

Both parties will use this fact as a bargaining chip. How much the liable individual pays to avoid going to trial and how much money the injured individual is open to accepting plays a vital role in permanent injury settlement amounts.

We Maximize Permanent Injury Settlement Amounts

Sadly, there’s no magic formula for determining the amount of money you can recover because no situation is the same.

This is why you should contact an experienced personal injury lawyer as soon as possible, as they’ll help you calculate the value of your case. 

It’s also worth noting that the skill of your lawyer can impact the final settlement amount, which is why you should find the best legal representation possible.

The lawyers at Law Offices of RITE have decades of combined experience in maximizing permanent injury settlement amounts and can see to it that you’re fairly compensated for your injuries. 

If you think you have a strong case, call (904) 500-RITE (7483) or send a message to info@rite4justice.com to book a free consultation. Together, we can make sure that justice is served and you can recover in peace!

Note: 

The information in this blog post is for reference only and not legal advice. As such, you should not make legal decisions based on the information in this blog post. Moreover, there is no lawyer-client relationship resulting from this blog post, nor should any such relationship be implied. If you need legal counsel, please consult a lawyer licensed to practice in your jurisdiction.