One of the most frequent questions that our lawyers get from clients is how much the average amount of a personal injury settlement is. However, this is not an easy question because many factors influence the settlement amount. By knowing these factors, you can successfully negotiate your settlement amount with the help of a lawyer.
Our attorneys at the Buzbee Law Firm explain how lawyers calculate your settlement and how they can help. Our attorneys are dedicated to helping you build a case and win the settlement you deserve. We’re also ready to help you take your case to court if necessary.
How the Amount of a Personal Injury Settlement Is Determined
Determining a personal injury settlement is a complex process. But that’s why we’re here to break it down. The amount of your personal injury settlement is based on three categories:
- Severity of injuries
- Parties involved
- Amount of damage caused
These three categories all influence how much you may receive for a settlement. Overall, the more severe your injuries are, the more parties involved, and the higher the level of damage is, the larger your settlement will be.
Factors That Can Affect Your Settlement Amount
One factor that can affect the amount of your settlement is the amount of assets the defendant has. If the defendant cannot afford to pay the settlement amount through their own finances or an insurance company, you may have to settle for a lower amount. It’s important to know the financial state of the defendant before you draw up a settlement amount.
Your settlement amount could also be affected if you don’t file your claim within the statute of limitations. Texas Civil Practice & Remedies Code section 16.003 states that you have two years from the day you were injured to file a claim. If you file after the deadline, you may not be able to recover your full settlement or any settlement at all.
Another factor that may affect your settlement amount is the strength of evidence that shows that the defendant was liable for your injuries. You and your lawyer must be able to prove that the defendant’s wrongdoing is the cause of your injuries. A Texas personal injury attorney can help you gather the necessary evidence to prove this.
Recoverable Damages in a Personal Injury Case
The damages you recover in a personal injury case can help you pay for medical bills and other important costs that help you recover from your injuries. Some of the most common damages in Texas personal injury cases are:
- Current and future medical costs
- Wrongful death
- Lost wages and future loss of income
- Property damage repairs and replacements
- Loss of earning capacity
- Transportation costs for injury treatment
- Pain and suffering
- Punitive damages
The chances of you winning punitive damages will depend on the degree to which the defendant was negligent. Punitive damages are awarded to punish the defendant and discourage them and others from repeating the negligent actions.
How a Lawyer Can Help Determine Your Settlement
A personal injury attorney can help determine your settlement by gathering evidence from the scene of your injury. Your lawyer can help you build a strong case by gathering evidence such as medical records, surveillance footage, photos, medical bills as well as testimonies from any witnesses that were present at the time of your injury.
Personal injury attorneys have years of experience handling various personal injury cases, so they often know how much you may be able to recover for your injury. Their experience is valuable because it can help you get the most out of your case.
A lawyer can also help determine your settlement by reviewing your case in a free consultation. By doing this, you can get an estimation of damages, and your lawyer will be familiar with the details of your case. After this, you and your attorney can start discussing settlement expectations.
Get a Free Case Consultation From an Attorney at the Buzbee Law Firm
If you were injured due to someone else’s negligence, we understand your pain. Our personal injury lawyers in Texas at the Buzbee Law Firm are ready to help you discover the value of your case. We’ll fight for your settlement along with your interests to get the outcome you deserve.
If you’re ready to start working toward your settlement, we’re ready to help. Call us or fill out the form on our contact page to start your free consultation today.