What is the Average Personal Injury Settlement Amount?
You may be wondering how much your personal injury settlement could be worth if you have been injured due to someone else’s negligence in Texas. While there is no universal average, personal injury settlements can range from a few thousand to millions of dollars, depending on different factors. Understanding what influences a settlement amount can help you set realistic expectations and fight for the compensation you deserve.
Factors That Affect Personal Injury Settlements in Texas
Several factors determine the settlement amount in a personal injury case. These include the severity of the injuries, medical expenses, lost wages, pain and suffering, liability, insurance limits, and potentially whether you have a lawyer.
The Severity of Your Injuries
One of the most significant factors influencing a personal injury settlement is the severity of your injuries. More severe injuries typically result in higher settlements because they require more extensive medical treatment and prolonged recovery times. They may even result in long-term or permanent disabilities. Injuries that may lead to substantial settlements include:
- Traumatic brain injuries
- Spinal cord injuries
- Broken bones
- Back injuries
- Internal organ damage
- Amputations
A personal injury lawyer may retain medical professionals to testify as expert witnesses about the severity of your injuries and their impact on your life.
Medical Expenses
The cost of medical treatment is a crucial component in determining a settlement amount. Higher medical expenses for hospital stays, surgeries, rehabilitation, or ongoing treatment usually result in a larger settlement. You should keep detailed records of all your medical bills and expenses after an accident so you can seek adequate compensation.
Lost Wages and Loss of Earning Capacity
An injury may prevent you from working temporarily or permanently after an accident. Lost wages and benefits during this time will be factored into your settlement. You may also be entitled to compensation for lost future earning potential. This is especially important for individuals who may not be able to return to work in the same capacity as before their accident.
Pain and Suffering
Pain and suffering damages are meant to compensate you for physical pain and emotional distress associated with your injury. They are more subjective than medical expenses or lost wages and vary depending on the severity of your injury, the length of your recovery, and their impact on your daily life. Pain and suffering damages are typically calculated in Texas using either the multiplier or per diem method and correlate with your recovery.
Liability and Comparative Negligence
Texas follows a modified comparative negligence rule, meaning you can recover compensation for an accident if you are not more than 50 percent at fault for the accident. However, your settlement amount for damages will be reduced proportionally and barred if your fault exceeds 50 percent. Insurance adjusters will evaluate comparative negligence to justify reduced settlement offers. Establishing clear liability for your accident can significantly impact the amount you receive.
Insurance Coverage Limits
The amount of insurance coverage available is critical in determining a settlement. Policy limits constrain settlements, so your settlement amount may be greatly reduced if the at-fault party only has minimal insurance coverage. You may need to pursue additional coverage through other sources, such as uninsured/underinsured motorist coverage after a car accident.
Legal Representation
Hiring an experienced personal injury lawyer can significantly influence settlement value. Experienced personal injury lawyers know how to negotiate with insurance companies, gather crucial evidence, and build a strong case to maximize your compensation.
Contact the Personal Injury Law Firm of Parker Law Firm Injury Lawyers in Texas for Help Today
For more information, please contact an experienced personal injury lawyer at Parker Law Firm Injury Lawyers to schedule a free initial consultation today. We have convenient locations in Fort Worth and Bedford, Texas.
Parker Law Firm Injury Lawyers – Fort Worth
209 N Hampton St,
Fort Worth, TX 76102
(817) 510-9400
Parker Law Firm Injury Lawyers – Bedford
2317 Plaza Pkwy #100,
Bedford, TX 76021
(817) 893-2439
