Personal Injury Settlement Amount Basics

Personal injury settlement amounts have many factors. There is no fixed value for any package that you believe will compensate for the damages.

The amount that you settle on depends on age, severity of the injuries, financial loss, medical prognosis, medical expenses, and extent of liability.

That is why one of the things you can do is to hire a personal injury defense attorney to give you the advice and information that you need on the case.

If you are well informed on the matter, then you are sure that there are no loopholes and that your case is very strong.

It is normal for your accuser to say that you weren’t really injured and that you only deserve this price for personal injury settlement amounts but you can say otherwise nonetheless.

One thing you should know is that there is no maximum or minimum personal injury settlement amounts. This varies from case to case.

You can read up on the cases that are similar to what happened to you and see how this was resolved. That is what you can do to be more informed on personal injury settlement amounts.

Here is an example. There was a construction company that paid the amount of $2,000,000 when they were held liable for the death of a young employee caused by the unsafe construction that their company was doing.

A retail store paid $1,000,000 when a claimant suffered neck injuries when the display fell on her.

A nursing home paid $1,000,000 when they were accused of medical negligence due to the injury of the Alzheimer’s patient. Finally, a patient was paid $5,000,000 for an automobile injury that aggravated an already existing neck injury.

Studies show that the highest compensation values are given to young and healthy plaintiffs.

The reason behind this is that the jury considers the financial loss as well as the mental anguish that are the effects from these incidences.

In all probability, young and healthy plaintiffs are highly productive and if they are eventually handicapped, this will be such a detriment to the whole economic scene.

Another factor to determine the personal injury settlement amounts are the severity of the injury.

For example, the first degree burn that heals quickly do not leave scars and are compensated for minor amounts.

However, a third degree burn, if it spreads over 50% of the body can reach a claim up to $8,000,000 as in the case of the coal mining company that was sued when a minor has an amputation due to the negligence of the company.