How Much Should You Ask for in a Personal Injury Settlement?
You may be entitled to compensation when injured through someone else’s negligence. How much this is worth depends on various factors, including the severity of your injury and its impact on your life.
You'll need to calculate all of your losses before accepting the insurance company’s offer to resolve the claim. For legal representation, you may consider hiring the personal injury attorneys at Rosenfeld Injury Lawyers, LLC.
Contact our Chicago law office today toll-free at (888) 424-5757 for a free consultation to determine your legal rights.
Settling a Claim While Healing: The Road to Recovery
The road to recovery after an accident can be a long one. You have to worry about your physical recovery and the potential financial strain of medical bills, rehabilitation costs, property damage, and missed work.
How much should you ask for in personal injury damages if you decide to file a personal injury claim?
While there is no one-size-fits-all answer, there are some things to consider when negotiating a settlement. Remember that insurance companies typically offer less than plaintiffs deserve, so don't be afraid to fight for what you're owed.
Consult with a Chicago personal injury lawyer if you need help navigating the settlement process. They can give you honest advice and help protect your best interests.
Personal Injury Settlement
The settlement amounts vary depending on the severity of the injury, how the injury was caused, and other factors.
Where you've been injured and believe you're owed compensation, the first step is to contact Chicago personal injury lawyers to discuss your personal injury case.
Seeking Medical Treatment Following a Personal Injury
Should you be injured in a car accident, it's essential to seek medical attention. Severe injuries can occur even in minor accidents, and they may not always be immediately apparent.
Personal Injury Settlement Statistics
According to the Insurance Information Institute (III), the average settlement amount for a personal injury claim in the United States is around $25,000.
While an average settlement may seem like a lot of money, it often doesn't cover the full extent of the damages suffered.
However, the amount can vary greatly depending on the severity of the harm. The more serious the damage is, the more money a litigant can receive. For example, a broken bone may settle for around $15,000, while a medical malpractice case may settle for millions.
Where you have endured physical suffering due to someone else's negligence, you may be entitled to compensation. Our experienced attorneys can help you recover fair damages. Contact us for a free consultation.
Average Personal Injury Settlement
The average personal injury settlement helps understand what may be available to you if you have been injured in an accident.
Have you been injured in an accident? Call a Chicago lawyer today for a free consultation. We'll help you get the compensation you deserve.
How Both Sides Reach a Personal Injury Settlement
Once the insurance company for the at-fault party has accepted liability for the car accident, the injury claims adjuster will begin working on your settlement.
The personal settlement process can take time, as the insurance adjuster will need to review your medical records and calculate the pain and suffering damages.
Your experienced personal injury attorney will help speed up the process by providing the insurance adjuster with all necessary information. Once a settlement figure has been calculated, your lawyer will hold settlement negotiations with the insurance company on your behalf to try to reach a fair agreement.
How to File for a Personal Injury Settlement Lawsuit
When you’re injured, the last thing you want to think about is filing a personal injury lawsuit. However, if you don’t take action, you may not receive the total financial compensation you deserve.
Your Chicago personal injury lawyer can resolve your claim through various steps. These steps include:
- Gather evidence
- Submit a demand letter with the anticipated dollar amount
- Negotiate a settlement
- File a lawsuit if a settlement cannot be reached
A Chicago attorney might ask, “Did the injury occur on the job?” If the answer is yes, the injury attorney will likely recommend filing a workers' compensation claim.
Injury claims can be made if you have suffered a permanent injury, including the loss of limb, paralysis, brain damage, and other serious injuries.
The Damages Formula in Injury Cases
The damages formula quantifies the damages that may be owed to a plaintiff by a defendant.
The formula is typically used in personal injury cases, but it can be used in other types of accident and negligence cases.
It considers several factors, including the plaintiff's injuries, the defendant's negligence, and the amount of money the plaintiff has lost due to the accident.
A Demand Letter in Settlement Cases
A demand letter is a formal letter sent to the person or company you believe is responsible for your physical harm. The purpose of a demand letter is to request a settlement amount.
Getting Legal Assistance From a Chicago Personal Injury Lawyer on Settlement Issues
Getting help from a personal injury lawyer can make the process much easier. Your lawyer will advise you on the best way to proceed and negotiate with the other party's insurance company on your behalf.
- First, it is essential to remember that the insurance company's goal is to pay out as little as possible. They will be looking for any reason to deny your claim or minimize the amount they are willing to pay.
- Second, you should not accept the insurance company's first offer. It is crucial to have your Chicago lawyer review any settlement offer to ensure it is both fair and reasonable.
- Finally, you should not sign any release until you have consulted with your injury law firm. A release may waive your right to further compensation, so it is vital to make sure that you are fully aware of what you are signing.
A Personal Injury Claim Involving a Settlement Amount
To come up with a reasonable settlement figure, you need to understand the factors that go into calculating it.
- The severity of your injuries: The more severe your injuries are, the higher your settlement amount. The insurance company will need to pay more to compensate you for your financial losses.
- The medical bills you have incurred: The insurance company will want to know how much money they will need to cover your medical expenses.
- The lost wages and property damages you have incurred: If you have missed time from work, you may be entitled to receive compensation.
The average amount in injuries cases reflects the amount of money that the jury thinks is fair for the victim under the circumstances. Contact a Chicago lawyer to get a free case review to see what you may be able to recover.
Insurance Limits on Permanent Disability
The insurance limits for permanent disability are essential to know if you become disabled because the insurance company will only pay out a certain amount for the disability.
Waving Your Right to Pursue the Insurance Company
If you accept the adjuster's settlement offer, you may be waiving your right to pursue further liability against the insurance company. Typically, the insurer will offer the lowest possible amount to increase their profits at the victim’s expense.
Were you injured in an accident? If so, A Chicago injury attorney can provide you with a free evaluation of your case and help you understand your legal options.
What the Family Members Should Do to Access Compensation Following the Death of a Loved One in a Wrongful Death
There are several factors you should consider when calculating compensation to determine the economic damages sustained by your family as a result of the death, including
- Lost wages and loss of future earnings
- Funeral and burial costs
- Lost income
- Loss of consortium
- Pain and suffering
You should also consider any non-economic damages, such as emotional pain and suffering.
Finally, you will need to consider the defendant's liability. If the defendant is found to be fully or partially at fault, your settlement demand will likely be higher.
Hiring a Chicago Lawyer to Resolve a Personal Injury Settlement Case
Were you injured in an accident? If so, don’t wait to reach out for help. A legal representative can help you navigate the complex world of insurance claims and settlements.
Contact our law firm today toll-free at (888) 424-5757 to speak with a legal team member and learn more about how we can assist you. We understand what you’re going through and are here to help.
Our Chicago personal injury lawyers operate on a contingency fee basis, so you don't have to pay us unless we win your case.
All confidential or sensitive information you share with our legal team remains private through an attorney-client relationship.