What Amount Can I Expect from My Personal Injury Settlement?
When you suffer a personal injury from any accident, you may benefit from filing a lawsuit against the person or company responsible for your injury. However, you probably wonder if pursuing legal action is worth the hassle. You may be asking yourself “what is the average personal injury settlement?”
Here, we discuss the different factors that affect your claim and what to expect from your personal injury settlement amount.
What is the Average Personal Injury Settlement?
Since personal injury cases vary significantly, it’s nearly impossible to find an accurate average. While most cases fall within the range of $3,000 to $75,000, some cases may be worth six figures or more.
Personal injury claim settlement amounts depend on several factors, including:
- Personal liability,
- The seriousness of your injuries,
- The medical costs to treat your injuries, and
- The wages you lose during recovery.
In addition, personal injuries don’t all happen the same way. In a car crash, you may be able to claim more due to vehicle damage. However, personal injury lawyers use the information listed above to figure out the value of your case.
Should I Believe an Online Personal Injury Settlement Calculator?
Due to the variation in personal injury cases, online personal injury settlement calculators can’t give you an accurate estimate. Online settlement calculators are clickbait and not useful tools to help you accurately determine the value of your case.
What Are the Most Common Accidents that Result in Personal Injuries?
Personal injuries range anywhere from cuts, bruises, and scrapes to permanent disability or disfigurement. The most common incidents that cause personal injuries are:
- Car Accident Legal Funding,
- Motorcycle accidents,
- Trucking accidents,
- Pedestrian accidents,
- Slips and falls,
- Construction accidents,
- Medical malpractice,
- Defective drugs/medical devices, and
- Defective products.
Typically, personal injury lawyers handle cases in these areas. Keep in mind that the type of incident also affects personal injury settlement amounts.
Should I Hire a Personal Injury Lawyer?
Absolutely. Working with an experienced personal injury lawyer greatly increases your chance of receiving higher personal injury claim settlement amounts.
Your lawyer helps by documenting all of the facts about your case, negotiating with the insurance company or defense attorney, and defending your right to a claim. Having a lawyer makes it easier to handle a personal injury claim since they do a lot of the work.
When Should I Talk to the Insurance Company?
Do not talk to the insurance company after a personal injury and hire a lawyer instead. When you file a claim with an insurance company, they try to give you the lowest acceptable amount for your case. In addition, they usually ask for a recorded statement which they sometimes use later to deny your claim. In desperation, you might accept a personal injury settlement amount that’s lower than you deserve.
A lawyer prevents this from happening by handling negotiations on your behalf and taking necessary precautions to protect your right to a claim.
What Types of Injuries Result in the Largest Personal Injury Settlements?
Usually, the largest personal injury claim settlement amounts involve injuries to the head, back/neck, or knees. Injuries sustained to these areas of the body sometimes result in disability or major surgery, so they have more value than other types of injuries.
Head injuries are very common in car accidents and construction accidents. This includes whiplash, which strains muscles in and around your head due to sudden movement, and traumatic brain injuries (TBIs). Traumatic brain injuries, if not treated, lead to severe complications like chronic headaches, loss of memory, insomnia, and reduced brain function. They are also difficult to diagnose and require extensive treatment.
Neck and Back Injuries
Back and neck injuries are among the most serious personal injuries. The most common back or neck injury is a herniated disc, which is when one or more of the vertebrae in your spine breaks, ruptures, or shifts out of place. This type of injury usually causes permanent disability and requires constant treatment or surgeries.
Herniated discs often require spinal fusion surgery to correct the break or slip. At Nova Legal Funding, internal research shows that our clients who require this surgery recover anywhere between $300,000 and $600,000.
These types of injuries typically happen in car accidents or slips and falls. When your knees impact a dashboard or the ground, they may break, slide out of place, or tear nearby ligaments. In most cases, knee injuries require extensive surgery to rebuild or correct your knee and have a long recovery time. To recover, you may receive a brace and some crutches.
How Much Time Do I Have to Bring a Personal Injury Claim?
Every state has a different statute of limitations for personal injury cases. In many states, you must file a claim for a personal injury within two years from the date of the injury. However, this requirement varies between states. For example, states like Colorado increase the statute of limitations to three years for car accidents, while Texas has a two year limit for all personal injury cases with few exceptions.
How Do I Know if My Personal Injury Lawyer is Doing a Good Job?
When looking for a personal injury lawyer, you should only consider someone who looks out for your best interests. In general, the best personal injury lawyers:
- Help gather potential witnesses or medical experts;
- Collect evidence at the scene of your accident;
- Request accident or police reports on your behalf;
- Obtain medical records and bills regarding your treatment;
- Give you an accurate estimate of your personal injury claim settlement amount;
- Communicate with the insurance company on your behalf; and
- Respond promptly to your texts, calls, emails, etc.
Avoid retaining lawyers who refuse to talk to you and instead have you talk to a case manager. If you think your lawyer isn’t working with your best interests in mind, get a second opinion from another personal injury lawyer.
Need Cash While You Wait for Your Settlement? Consider a Lawsuit Loan From Nova Legal Funding
If you suffer from a personal injury, you might struggle to keep up with medical bills, attorney’s fees, or even basic living expenses. At Nova Legal Funding, we understand how difficult it is to recover from an injury and stay financially afloat. We offer pre-settlement lawsuit loans to plaintiffs who can’t wait for their settlement.
Our risk-free loans have the lowest rates in the industry, guaranteed. Most importantly, you don’t pay back anything unless you win your case. If you have a question about personal injury claim settlement amounts or would like to apply for a lawsuit loan, give one of our specialists a call at 866-985-0472. We send cash to qualified applicants within 24 hours of approval.
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