When you begin to consider a personal injury lawsuit, you may wonder how much you can ask for. What is the average personal injury settlement? The truth is that there is no average. You can’t look for a dollar amount when it comes to personal injury settlements. The reason that it is difficult to pinpoint is because there are so many different types of personal injury claims. The details and costs of a car accident may be very different compared to a slip and fall or medical malpractice case.
Here are the factors that will contribute to the value of your personal injury case.
The Plaintiff’s Damages and Losses
The major contributing factor when figuring out how much a personal injury settlement is going to be is the severity of the injury. Your case relies on what damages you suffer. For instance, your settlement is the sum of what you lost. You would factor in medical bills, future treatments and any lost wages. In addition, your settlement may cover any pain and suffering or other losses. In some states, you can even collect punitive damages. These are damages awarded by the court to punish the defendant for reckless behavior.
The Defendant’s Wealth and Assets
A lot of plaintiffs do not consider the defendant’s assets or wealth. If you are dealing with an insurance company, you may not have to think about this point at all. After all, you only need to think about what the insurance company is willing to pay. However, if the insurance does not cover all costs and if the defendant has little to no assets, you may not be able to get much from him or her. If the defendant does not have the money to pay the damages, he or she will still owe you, but the odds are low that you will see that money. When you are negotiating a settlement, you do have to keep that in mind.
If you are planning to file a personal injury lawsuit, there are no average numbers that will help you determine what your personal injury claim may look like. Instead, your best option is to talk with a lawyer. A lawyer will be able to discuss with you the value he or she thinks that your case is worth. To help with your lawsuit, contact a Philadelphia, PA, personal injury lawyer, like Wieand Law Firm, to set up a consultation before you file your claim.