A personal injury is any type of injury caused by an accident, medical negligence, or faulty products. These injuries are mainly caused by an error or negligence of the other party. But such injuries can leave the victim with physical, financial, and even emotional distress.
This is where personal injury laws come to their aid, by helping such victims stand for their rights and get the right compensation. If you are someone who has been injured in a personal injury accident and are planning to file a claim, one of the most common questions in your mind would be “How much is this case worth?” or “How much compensation am I truly eligible for?”
But the truth is that the compensation you may receive depends on a variety of factors. This is why understanding how a personal injury settlement works can help you understand how much your case may be worth.
How Much Compensation Can You Expect for Your Case?
As mentioned above, the compensation you receive in a personal injury claim entirely depends on the severity of the accident and the damages caused. But here are a few examples as of the year 2005 to help you get an idea of how much your case might be worth.
- Cases that were related to auto or motor accidents received a median amount of $16000.
- For cases related to injury caused by damaged properties and that hold landlords liable, the median amount was $90,000
- Medical Malpractice cases got an average amount of $679,000 as compensation for the victims.
- Cases that involved faulty products, such as side effects of chemicals or medicines, injury caused by product defects, etc, were provided a median compensation amount of $748,000.
But you must keep in mind that each case is different, and the amount that you may receive depends on various factors. So your compensation may always differ from that of another person.
What are the Key Factors that Affect the Compensation Amount?
Here are a few key elements that determine how much compensation you may receive when going for a personal injury claim:
1. The Severity of the Injury
One of the most important factors that determines how much compensation you will get for your personal injury claim is the severity of your injury. For example, injuries like a small fracture will get less compensation when compared to a severe injury like a traumatic brain injury or any other injury that causes complications to the life of the victim.
2. Damages to Property
In cases of injuries caused by accidents like vehicle crashes, the victim also has to face financial expenses caused by the damage done to the property. In some cases, the damages may be very heavy; in such cases, the compensation will also cover the amount needed to repair the damages.
3. Medical Expenses
After an accident or an injury, there will obviously be a lot of medical bills. Your personal injury claim should cover most of your medical bills, such as hospital stays, surgeries, therapies, medicines, and any long-term treatments if necessary.
4. Loss of Wages
In some cases, the injury or the severity of the incident causes the victim to lose their job, miss their work for a large number of days, and at times even leaves them incapable of doing the job they were doing. Such cases are considered a loss of wages caused by the injury, and your compensation will also provide you with an amount for your loss of ability to work.
5. Emotional Distress
Apart from these factors, personal injury compensations also include compensation for emotional distress or pain caused by the accident, such as PTSD, depression, anxiety, etc. Taking these non-economic losses into consideration increases your compensation amount.
Conclusion
When it comes to personal injury claims, factors such as medical expenses, lost wages, pain and suffering, and severity play a very important role in determining your compensation. So, if you have been injured, keep these points in mind, or also take the help of an attorney to help you get the right compensation.