If you’ve been in a car accident or sustained a personal injury because of someone else’s negligence, you should be able to recover damages such as medical expenses and lost wages. However, determining the actual value of your claim’s worth can be tricky. In many cases, it’s your word against your insurance company. Insurance companies are trained to issue as little compensation as possible to preserve their profit, and they have extensive legal resources to protect themselves from having to pay significant settlement amounts.
With these variables, you may wonder how much to ask for in a personal injury settlement. Because settlement amounts vary so widely and every case differs, it’s wise to consult a Denver personal injury attorney to determine the true value of your personal injury case. This blog looks at the typical personal injury settlement amounts and the factors that influence those amounts.
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Average Personal Injury Amounts
Average personal injury settlements range considerably, and the value in your case depends on various factors such as property damage, medical bills, lost wages, pain and suffering, and other factors. Personal injury cases can settle for a few thousand dollars on the lower end of the spectrum. However, these cases often settle for more depending on the specifics of your case.
The average settlement amount for personal injury cases is between $3,000-$75,000. This is further affected by the quality and skill of the personal injury lawyer you choose to represent your case.
While several factors affect personal injury settlement amounts, with some cases earning millions of dollars, most personal injury cases fall within this average range. The outliers to the average settlements typically involve unique circumstances such as punitive damages or egregious negligence. Experienced personal injury attorneys will help determine where your case falls on the spectrum of personal injury settlements.
Will My Case Settle For the Average Amount?
The complex legalities of your case require some unpacking, and personal injury attorneys can help determine your case’s values by considering all of the facts. Without first speaking to an experienced personal injury attorney, you will likely be somewhat unaware of various factors affecting your case.
How Much Is the Average Car Accident Settlement Amount?
The average settlement for a car accident is similar to most personal injury cases. Since Denver car accident injury cases are most often tried under tort law, which is considered personal injury law, they adhere to similar guidelines.
As with personal injury cases, the injury’s severity and the responsible party’s negligence hold significant sway over the outcome. In severe injury cases for car accidents, accident victims can receive hundreds of thousands of dollars. If you have minor injuries with little to no medical expenses, you will likely settle for under $10,000. The location also plays a small factor. The average car accident settlement in Colorado is slightly higher than the national average but falls within the $3,000-$75,000 range.
Another factor determining car accident settlement amounts is the available insurance coverage. If the defendant has ample insurance coverage, you will likely be able to settle for more than if there is limited liability coverage.
Factors Influencing a Personal Injury Settlement
Some of the most common factors influencing personal injury settlements include:
- Medical bills.
- Economic damages such as lost income.
- The severity of your injuries.
- The permanence of your injuries.
- Whether you contributed to the accident or were at fault.
- How convincing your case is.
- The responsible party’s financial status.
Is My Personal Injury Case Severe Enough for a Personal Injury Attorney To Take?
You shouldn’t expect a personal injury attorney to reject your case based on blanket details. You should consult a personal attorney to determine whether your case is eligible for compensation. These professionals will be able to examine whether your injuries warrant a settlement and whether the offered settlement is below average.
Costs That Reduce Your Personal Injury Settlement
Medical Liens and Injury Settlements
Patients often don’t have the money to pay their providers for the care they need. An insurance company that paid for these medical expenses might seek reimbursement for their expenses before the plaintiff can receive a settlement. To recover their expenses, insurance companies can file medical liens against the claim to ensure medical bills get paid.
Additional Bills
Recovery from a personal injury can take weeks, months, or longer, depending on the severity of the injuries. This typically means that the plaintiff must receive ongoing medical care. If the recovery lasts longer than the settlement process, the settlement might not cover the full medical expenses.
Attorney Fees and Personal Injury Settlements
Compensating your lawyer and legal team for their work on your behalf can cost you some of your settlement. However, in some cases, your personal injury attorney can stipulate that the defendant must also pay for the attorney’s fees.
Additional Expenses
Filing a personal injury case often means that other fees accrue throughout the process, such as postage, filing fees, and document fees for certified copies. These fees can add up and detract from your overall settlement.
Personal Injury Settlements Depend on How Much the At-Fault Party Can Pay
Even if the other party is entirely responsible for your accident, you must consider the practical nature of collecting from the at-fault party. For example, if the at-fault party has a $100,000 policy limit, but you have a claim for $150,000, they will most likely offer a settlement of $100,000. Considering your claim, you must decide whether the extra $50,000 is worth going to trial or accepting the settlement offer. You can go to court for a small personal injury case, but the practical consequences may outweigh the benefits.
Ways to Maximize Your Compensation In Your Personal Injury Case
1. Preserve the Evidence
The more evidence you gather at the scene of the accident or injury, and the more thorough an investigation your attorney launches, the more likely you are to receive a fair settlement offer.
2. Get Appropriate Medical Treatment
Even if your injuries are mild, you should receive medical attention. If a doctor recommends you follow a specific treatment plan, you should follow it.
3. Account for Future Damages
During the settlement process, it can be easy to lose sight of the future implications of your injury. When negotiating your settlement offer, account for the treatment costs or lost wages you have yet to incur.
4. File Your Case Promptly
After your personal injury, you have a limited time to file your claim due to the statute of limitations for personal injury cases. To avoid passing the deadline for your claim, speak to an experienced personal injury attorney immediately. They will be able to help you determine the full value of your case.
Conclusion — What’s the Average Amount For a Personal Injury Settlement?
Determining the full amount for your personal injury settlement can be a complex procedure that requires the insight of legal professionals. An experienced personal injury attorney can ensure you receive the compensation you deserve.
The Paul Wilkinson Law Firm is a group of Denver personal injury attorneys specializing in car, truck, and motor vehicle accidents. Our experienced Denver personal injury attorneys will guide you through the legal process and ensure you receive the compensation you deserve. We understand the trying aspects of sustaining injuries and filing a personal injury claim.
Contact us today to set up a Denver personal injury lawyer free consultation and learn the actual worth of your personal injury claim. For more information, call (720) 549-9826.
