Video - Is There A Minimum Personal Injury Settlement Amount?
Video Transcript
“0:00 is there a minimum personal injury 0:02 settlement amount? Whether or not there 0:05 is a minimal personal injury settlement 0:07 amount depends on many factors is a 0:11 general rule No there is no minimal 0:13 amount one can settle a case for it made 0:16 be determined in the course of 0:17 litigation and investigation that the 0:20 person who you’re seeking recovery for 0:21 had no liability, to begin within that 0:24 case, you may want to consider doing a 0:26 global settlement 40 the person you’re 0:30 suing agrees not to come after you for 0:32 malicious prosecution or abuse of 0:34 process, and in exchange, you agree to 0:36 release that person but as a general 0:39 rule if that person is at fault, it could 0:41 be anywhere from zero dollars to 0:44 millions or billions of dollars 0:45, depending on what the evidence shows and 0:48 what the insurance coverage is or assets 0:51 of the defendant has available to pay 0:53 the award or settlement. [Music]”
Exceptions may apply depending on your unique case. So, you can always contact a serious injury law firm to understand your rights. You might qualify for compensation if you suffered injuries in an accident that was not your fault. Contact Ehline Law and our personal injury attorneys to help maximize the value of your case.
Is There a Minimum Amount for a Personal Injury Settlement?
As noted above, regarding a settlement amount for a personal injury case, there is no minimum personal injury settlement amount. Every case is unique, having different facts.
Some personal injury cases may not offer settlements, while others may provide multi-million dollar settlements or successful verdicts.
How Much Compensation Is Typical in Personal Injury Cases?
Compensation is generally based on the facts of each case, making each personal injury case unique.
Settlement for a broken hand may vary compared to a payout for a brain injury resulting from a car accident. Nolo said more than half received settlements between $3,000 and $25,000. About 26% received more than $25,000, bringing the average personal injury settlement to $52,900.
What Affects the Outcome of Personal Injury Claims?
Some critical factors that affect personal injury settlements include the following.
The Severity of the Injuries
Insurance companies determine payouts by assessing medical bills and other economic damages arising from the treatment of the injuries. Severe injuries often result in more expenses and greater non-economic damages, including pain and suffering damages, leading to more significant payouts.
Defendant’s Insurance Policy
Insurance companies do not pay over the policy limits, so your settlement amount may depend on the defendant’s policy limits.
Legal Representation
Although insurance companies do not pay over the policy limits, an experienced personal injury attorney can help explore other options, such as health insurance, to maximize your settlement.
An insurance company will try to settle as low as possible, but an experienced attorney can negotiate a good personal injury settlement.
The Advantage of Legal Representation
Injured victims without legal representation have a lower chance of compensation than those who hire a personal injury lawyer.
Attorneys Have Experience Negotiating Settlement Offers
Legal representation also affects how much personal injury cases pay. According to a survey conducted by Nolo, Injured victims with legal representation average about $77,600 in compensation, while those without one receive, on average, $17,600.
Even after taking out attorney’s fees from the settlement or court award, victims receive a three times higher settlement amount than those who remain unrepresented.
Attorneys Know the Claims Process and How to Build a Strong Case
Most personal injury lawyers know how to build a solid injury claim by gathering evidence, assessing medical expenses, lost wages, and other damages, and negotiating with the insurance adjuster for a fair settlement.
Trial Attorneys Have Experience in the Court System
In a personal injury lawsuit, where there is no mutual agreement on the settlement, an experienced trial attorney can take the case to trial. It could result in a higher award (the court may award punitive damages) unless the insurer is willing to resume settlement negotiations.
Schedule a Free Consultation with Ehline Law
If you suffered injuries in an accident that was not your fault, contact us at (833) LETS-SUE for a free consultation on your personal injury claim. We have the legal team to help build a solid case, gather evidence, and deal with the insurer to get you fair compensation.
Michael Ehline is an inactive U.S. Marine and world-famous legal historian. Michael helped draft the Cruise Ship Safety Act and has won some of U.S. history’s largest motorcycle accident settlements. Together with his legal team, Michael and the Ehline Law Firm collect damages on behalf of clients.
We pride ourselves on being available to answer your most pressing and difficult questions 24/7. We are proud sponsors of the Paul Ehline Memorial Motorcycle Ride and a Service Disabled Veteran Operated Business. (SDVOB.) We are ready to fight.
