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What is the Average Payout for a Personal Injury Claim?

After an auto accident, you might rightfully want to know the value of your claim. One of the ways you can try to determine the value of your case is by asking yourself, “what is the average payout for a personal injury claim.”

The amount of possible settlement can differ, and the experienced Los Angeles personal injury lawyer with El Dabe Ritter Trial Lawyers can assist you in better estimating the amount of settlement you can get based on the situation of your specific personal injuries.

The Average Personal Injury Settlement Sums

The average personal injury settlement payouts differ greatly. The amount in your specific case depends on various factors that are specific to your situation, including:

  •   Lost wages
  •   Medical bills
  •   Property damage

Your injury case may settle for only a few thousand dollars. However, most personal injury claims settle for much more. In general, a personal injury settlement amount ranges between $3,000 to $75,000. These figures depend on your case and are hard to determine without professional assistance. Certainly, most cases get settled in between the very low and very high average settlements.

However, there are also cases that get settled for millions of dollars. Such cases involve very exclusive circumstances with extraordinary damages. An experienced personal injury attorney can assist you in determining where your claim falls on the range of standard personal injury settlements.

Will My Personal Injury Claim Settle For The Average Settlement?

It is crucial not to assume that you know the value of your case. You can be surprised by the number of damages that you can rightfully claim. The most excellent way of determining the right amount for your personal injury claim is to consult an experienced personal injury lawyer about your specific case.

Your attorney will evaluate the types of damages to include in your case, both financial and non-financial. A lawyer can help maximize your settlement.

Can You Calculate Your Settlement?

Each personal injury claim is unique and deserves an assessment of its individual merits. To determine the average payout, your attorney looks at the components of every case. The settlement value is composed of various categories of damages, including punitive damages, suffering and pain, and economic damages.

It is crucial to understand that a settlement and a trial verdict are two different things. A settlement is a value that the at-fault party agrees to reimburse before the case goes to trial, while a trial verdict is determined by a court of law. Although a trial verdict is usually higher than a settlement, there are a lot of expenses and time related to going to trial.

It might not make sense to go to trial if you are not likely to recover the extra amount. Also, if you pursue a lawsuit, there is a likelihood that you will not recover anything. Therefore, it is important that you make informed decisions based on your specific case.

Consult a Personal Injury Attorney

Before speaking to an insurance adjuster, consult an experienced attorney with El Dabe Ritter Trial Lawyers to ensure that you do not settle for less than what you deserve. The experience of a skilled personal injury lawyer can assist you in determining the best course of action in your specific case.