Quick answer: This is no average amount for a personal injury settlement. I’ve settled cases as low as $3,000 and some in the millions. It all depends on the extent of your injuries or economic damages.
Now let’s get into the weeds on this…
The value of a personal injury case is determined by multiple factors, but generally, the value is based on the following elements:
Damages: The primary factor in determining the value of a personal injury case is the extent of the damages suffered by the injured party. This can include medical expenses, lost wages, pain and suffering, and other economic and non-economic losses.
Liability: The strength of the evidence showing that the defendant was at fault for the injury is also a key factor. If the defendant’s liability is clear, the value of the case may be higher.
Insurance Coverage: The amount of insurance coverage available to compensate the injured party can impact the value of the case. If the defendant has limited insurance coverage, the value of the case may be limited as well.
Precedent: Past cases with similar circumstances can also influence the value of a personal injury case. Courts may look to similar cases to determine an appropriate amount of compensation.
Negotiation: The value of a personal injury case can also be influenced by the negotiation skills of the parties involved. A skilled negotiator may be able to secure a higher settlement or award for the injured party.
Ultimately, the value of a personal injury case is determined on a case-by-case basis, taking into account the specific facts and circumstances of the case.
Is there a national average amount based on legal research and studies?
There is no national average amount for personal injury cases, as the value of each case is highly dependent on the specific circumstances and factors involved.
However, data from the following sources show the following settlement amounts for personal injury cases:
Insurance Research Council (IRC): According to the IRC, the median payout for personal injury claims resulting from motor vehicle accidents was $24,000 in 2019.
Jury Verdict Research: Jury Verdict Research reported that the median award for personal injury cases that went to trial was $31,000 in 2019.
National Center for State Courts (NCSC): The NCSC reported that the median jury award for personal injury cases in state courts was $31,000 in 2017.
Remember, your case is going to be different so you need to call me so we can discuss this.
