What Is the Average Payout for a Personal Injury Claim?
The average payout for a personal injury claim will depend on several factors. The person injured in a car accident, truck accident, or slip and fall will have to start from the beginning to determine the value of the case. All cases are different because all people are different. Everyone reacts differently to an injury. For example, someone who is in the peak of health and who body-builds daily will recover from an injury quicker than a person who is elderly, frail, and in poor health to start with even before the injury.
First, there needs to be determined who is injured and how the person was injured. If the individual was injured because of the negligent actions of another person, then there needs to be established who was at fault for the injury. If the injured individual is also partly at fault, this will sometimes be taken into consideration too when settling out a final claim.
Investigation of the Loss
Insurance companies often get involved in the investigation of a claim or a loss. If you have suffered a car accident as the person in a car who was hit by someone else, you are most likely making a claim against the other person’s insurance carrier. How much you will get in this claim will depend on many factors. If you were partially at fault, that might be a factor in how your claim is settled in the long run.
Who Is Really at Fault Here?
Before you can get reimbursed for a personal injury, someone else has to have been at fault for your loss or injury. Let’s look at an example. Say that you are walking down the street and fell. If you fell because your knee just gave out from a pre-existing injury, that is no one else’s fault. You would have a hard time bringing a lawsuit because of this injury today. Who would you bring a lawsuit against? You could not sue the city that owns the sidewalk where you were walking just because an old injury of yours caused your knee to give out suddenly while walking.
But let’s say, for example, that you are walking down the street again, and a piece of concrete dislodged from a building, hitting you and forcing you to fall to the ground. Your knee gave out from the force of the fall, and you did not have a pre-existing injury. In this case, there is someone at fault. Whoever owns or manages the building needs to reimburse you for your injuries. This is because the building should not have been throwing concrete on people walking on the ground floor below.
The building owner owes you a duty of care to ensure that the building does not have loose concrete that will fall on pedestrians walking on the street below. Once there is fault and a duty established, you can see that the duty was breached. If you suffer damages due to these factors, you have a valid claim against the building owner or manager to get reimbursement for your personal injury and losses.
Average Payouts Are Not “Average” At All
There is no one way to determine the average payout for a personal injury claim. There are just too many factors at stake. If you are injured, the important part to remember is to take time to heal, call an attorney and make sure that you don’t forget to gather documents and all necessary evidence for your case. Your injuries are personal to you. Even if you were a twin and your twin was injured in the car accident alongside you, your settlement would be different. No two people are alike.
What Are Your Injuries?
Your average payout is going to depend on your personal injuries. What are your injuries, and are they minor, semi-permanent, permanent, or life-changing? Another question to ask is how have you suffered because of these injuries? The extent of your injuries will determine your recovery compensation for your injuries.
The average payout for an injury will be determined by a variety of factors. Let’s look at one factor here. What is your age? Your age will determine your personal injury payout. If you are elderly, then the value of a broken hip will have one value. But if you have been in an accident where your hip is badly broken, and you are in the prime working years of, say, 35 years old, then this injury may affect your ability to continue working for the rest of your life. Therefore, the compensation awarded to you for the accident will need to include the future loss of earnings that you might suffer as a result of sustaining this injury.
Schedule of Payouts Depend on Who is Paying
When another person or a company injures you, you will most likely be reimbursed by that person’s insurance company. There is a definite schedule of payouts used by insurance companies. These schedules put monetary value on the loss of a limb, or on a traumatic brain injury suffered by someone who the insurance company insures. If the insured of an insurance company injures other people, that insurance company will pay out a settlement based on the factors of the injury. These money values may seem to be considered “unfair,” but the insurance company has to start somewhere. Let’s look at an example of a payout for an injury.
Payout for a Neck Injury
If you have suffered a neck injury, it may affect you for the rest of your life. Your injury may be slight, moderate or you may have suffered a severe neck injury. It may have affected your spinal cord and caused severe paralysis for you, changing your life forever. Or, in the alternative, the injury may be considered to be slight to moderate, which can be healed over time with physical therapy.
Your medical bills, pain, suffering, and all losses associated with the injury will be added up. Then a formula for recovery will be added and the injury will be seen to be worth a certain amount of money for the insurance company to settle with you. The injury will be settled depending on your reaction to the injury and the ability you have to heal. If you have a spinal cord injury and suffer paralysis, your injury compensation package could be in the millions. If you have a moderate injury of the neck that affects the back, your recovery could be in the $300,000 range or more. If you have a whiplash injury and are able to fully recover from it, you may receive $100,000 or more in recovery compensation for the loss.
General and Special Damages
An insurance company will reimburse you for the general damages and special damages that you incurred for a loss. The damages include:
- Lost wages
- Medical bills
- Rehabilitation or physical therapy
- Surgical bills
- Medicine bills
- Pain and suffering
- Damage to property
- Permanent damages
The insurance company will add up the special and general damages, then multiply that number based on the extent of those injuries and how you were affected by those personal injuries. All insurance companies use different multipliers, it will vary in each case. But if you have an experienced attorney on your side, you have a greater chance of more settlement money being negotiated for you.
If you have a claim for personal injuries, you need to call the injury and accident attorneys at the CEO Lawyer Personal Injury Law Firm. We can discuss with you the average payout that you can expect for a personal injury claim. Just call us at (833) 254-2923. We look forward to hearing from you today.