First and foremost, personal injury settlements help affected individuals recover from any and all financial losses they had to suffer due to the injury. These include medical bills, lost wages, and associated recovery expenses such as ongoing therapy costs, purchase of medical or supportive devices, etc.
However, a settlement claim is not only about monetary damages. When you file a personal injury lawsuit, the settlement amount you claim must also include non monetary damages such as the mental toll the injury had on you and your family members. The pain and suffering caused by this may also result in further worsening of your physical conditions.
In addition, some type of injuries (such as a brain injury) directly carries the risk of further physical damage in the future. For example, you may become vulnerable to life-long seizure risks as a result of a serious brain injury.
Determining a Personal Injury Settlement Amount
Now, given all these circumstances, we can see that it is a complicated task for a common individual to determine exactly how much he ought to claim for the injury he has suffered. You don’t want to get short-changed under no circumstances. On the other hand, asking for too much may actually sabotage your otherwise altogether justified claim in the court.
This is why it is important that you get in touch with an experienced personal injury attorney as and when you are considering filing a personal injury lawsuit. In view of all the circumstances specific to your case, attorneys experienced in handling personal injury cases will be able to advice you on a reasonable claim amount. Attorneys with good reputation in the field actually often play a key role in mediating out-of-court negotiations between the plaintiff and the defendant. This often benefits the injured party since an out-of-court negotiation means that the plaintiff won’t need to pass through the ordeals related to a long drawn-out court case.
How Much You Can Expect from Personal Injury Settlements
As should be clear from the above discussion, the actual settlement amount in any particular case depends on a number of factors and as such, will vary from one case to the next. That said, a great majority of personal injury cases involve relatively minor injuries and the settlement amounts typically hover around the range of $30,000-$50,000. However, if we’re talking serious injuries, such as a severe brain injury or any other potentially life-threatening injuries, the damage amount will increase exponentially, and in many cases, the total damage amount may push up to million-dollar ranges.
Personal Injury Litigation: Is It Worth It?
Absolutely! And for more than one reason. First of all, you’re seeking redress for a wrong done to you. This does not only mean you’re standing up for your own rights; that too, but by the dint of taking a stand, hopefully you’re also helping ensure that the liable party will be more careful in the future, so that other individuals won’t have to pass through the same ordeal you already have.
And of course, you can recover all financial losses and get compensated for other types of damages only when you file a lawsuit. However, keep one thing in mind that even when you receive a favorable judgment from the court or receive compensations through out of court negotiations, this would seldom mean any significant financial boost to your current situation.
We mention this since, courtesy some sensational news pieces or flashy commercials, some individuals tend to get a wrong idea of it. Actually, by the time a settlement is reached, a large amount of the settlement money will already be accounted for via medical and other potential liens, attorney fees, and other additional expenses.
So, bear in mind that personal injury settlements are not going to make you rich and that is never your goal either. If you go into litigation, you do so to protect your own rights and to recoup all types of personal losses you’ve suffered through an injury caused by another’s negligence.
Looking for more information? Take a look at the article at https://personalinjurynewyorkcity.com/should-i-accept-personal-injury-offer/.