How Much Money Can You Expect from a Personal Injury Settlement?

If you’ve been involved in an accident that wasn’t entirely your fault, you may be eligible to make a personal injury compensation claim. It’s possible to take legal action after virtually any type of accident, although car accidents, workplace accidents and slips, trips and falls are amongst the most common.

If you’ve been injured and you believe you’re eligible to make a claim, you’ll want to know how much you can expect to receive in compensation. It’s always worth seeking the help from an expert like these Minnesota personal injury attorneys who can better guide you on how to make a claim and offer an estimate of its potential value. Read on to find out some of the factors that go into determining how much a claim is worth:

1. The Severity of Your Injuries

Generally, the more serious your injuries are, the more compensation you can expect to receive. A spinal injury which has a long-term impact on your mobility may warrant more compensation than a broken arm which will fully heal, for example.

2. Your Medical Expenses

Obtaining medical treatment can be expensive and, if you’ve been hurt in an accident that wasn’t your fault, you shouldn’t have to deal with the financial implications, and people like the personal injury lawyers at Schuerger Shunnarah can ensure that you are adequately compensated for the hurt you have sustained. When you agree to a personal injury settlement, the cost of the medical expenses arising from your injuries should be covered by the compensation you’re awarded. 

3. Loss of Income

If you’re unable to work due to your injuries, your compensation settlement may reflect any loss of income you’ve incurred. This may be a short-term drop in income if you couldn’t work while recovering, for example. Alternatively, if you’ve sustained serious injuries and will be unable to return to work in the future or you’ll need to find a different type of job, your compensation may reflect your future loss of earnings too.

4. Additional Expenses

When you sustain an injury, you may incur additional costs. If you’re unable to drive, for example, you may need to pay for alternative transport. Similarly, in some cases, a parent may need to hire someone to assist with childcare while they’re recovering from an injury. Alternatively, if you’ve sustained long-term harm, you may require your home to be adapted to your needs. If so, these additional expenses should be reflected in the compensation you receive. If you were injured in a bus accident, For instance, it’s important to keep track of all your expenses related to the injury, including additional costs. This information can help your attorney accurately calculate the compensation you may be entitled to.

Choosing the Right Personal Injury Lawyer

If you agree to a personal injury settlement, you will negotiate a sum of money with the other party, without the need to litigate in court. Although this will ensure the matter is resolved more quickly, you’ll want to ensure that you receive a fair amount of compensation.

That’s why it’s important to work with an experienced and skilled personal injury attorney. By choosing a reputable law firm, like Horst Shewmaker, you can ensure that your settlement is properly negotiated and that your interests are represented throughout.

Many people make the mistake of settling too early or missing out some of the expenses that they could argue should be included in their compensation award. When you find the right legal team, however, you can ensure that any settlement you receive awards you a fair amount of compensation following a personal injury.