How Much Can I Expect to Make from My Personal Injury Case?
The First Art Newspaper on the Net    Established in 1996 Thursday, July 25, 2024


How Much Can I Expect to Make from My Personal Injury Case?



Most personal injury cases – around 95% - never go to trial. Instead, the parties involved agree on a settlement. However, determining how much monetary recovery you can realistically expect can be challenging. Settlements can range from a few thousand dollars to in excess of $1 million. Half of all personal injury plaintiffs received $24k or less in 2022.



One of the largest settlements ever reached was in the Tobacco Masters case in 1998, with $206 billion to be paid out over 25 years. However, this is not the norm.

There are many factors to consider when placing a dollar value on physical, emotional, and financial damages. Losing a limb in a car accident is a lot more traumatic than spraining an ankle in a store, for example.

Determining the Value of Your Claim

When deciding how much compensation to seek for your personal injury case, it’s important to thoroughly examine all aspects of your injury and loss. Key factors include:

Economic Damages

● Medical expenses - Current and estimated future costs for medical treatment, physical therapy, at-home care, medications, medical devices, etc.
● Lost income - Wages/salary you lost due to missing work from recovering from your injuries. Calculates your average earnings.
● Loss of future earning capacity - If your injury prevents you from working in the same capacity in the future or reduces your earning power.

Non-Economic Damages

Non-economic damages cover more intangible losses like:

● Pain and suffering - Both physical and emotional distress.
● Loss of enjoyment of life - Inability to participate in hobbies or activities you previously enjoyed.
● Disfigurement or disability - Cosmetic disfigurement or loss of limb/bodily function.

Comparative Negligence

Your compensation can be reduced if you are found partially at fault for the incident. This depends on the laws in your state.

Putting a Price Tag on Your Damages

Economic damages are more straightforward to quantify, while non-economic damages are harder to put an exact dollar figure on. A personal injury lawyer will make a demand to the insurance company or defendant’s legal team on how much they should pay if the case is settled out of court. This demand will be higher than what you may realistically receive.

If your case goes to trial and a jury awards damages, it is anyone’s guess how they will rule. Jury awards can vary widely and may not seem directly tied to actual economic losses. But as already stated, most cases settle without going to trial.

Consult a Local Personal Injury Attorney

Every personal injury case has unique circumstances. Mark Perenich, an experienced personal injury lawyer in Clearwater, FL, implies that after reviewing all factors in your case, an attorney can give you a reasonable estimate of potential compensation. While it is in their interest to take cases they feel have merit, ethical attorneys will be upfront if the facts limit possible recovery.

Managing Expectations

It’s understandable to want or need substantial compensation, especially where injuries prevent you from working. However, it's important to keep expectations realistic about what the claim process may deliver. Focus discussions with your lawyer on achieving the best results rather than optimizing for a specific dollar figure that may not match case realities.

With reasonable expectations set from the start, the end result is likely to feel more satisfactory.










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