The purpose of a personal injury settlement is to provide compensation to an injured party (the plaintiff) for the harm and losses they have suffered due to the negligence or wrongful actions of another party (the defendant). The settlement is intended to cover all current losses and future expenses related to the injury and hold the negligent party accountable for their actions (or inaction).
If you or a loved one was injured in an accident caused by the negligence of another, you deserve a full and fair settlement. Contact a local personal injury lawyer to discuss the value of your claim.
How Much to Ask for in a Personal Injury Settlement?
Determining how much to ask for in a personal injury settlement can be a complex process, as it depends on various factors unique to your case. It’s essential to work closely with an experienced personal injury attorney who can help you assess the value of your claim accurately. Here are some key factors to consider when determining the amount to request in a personal injury settlement:
- Medical expenses. Calculate all your past and anticipated future medical expenses related to the injury. This may include doctor’s visits, hospital bills, surgeries, rehabilitation, medication, and medical equipment.
- Lost income. If you’ve missed work due to the injury, document your lost wages and any potential future earnings you may lose due to ongoing recovery or disability.
- Pain and suffering. Personal injury settlements often include compensation for pain and suffering, which is harder to quantify. Insurance companies and courts may use various methods, such as multiplying medical expenses by a certain factor or considering the severity of your injuries and their impact on your life.
- Emotional distress and other losses. In some cases, you may be entitled to compensation for emotional distress, particularly if your injuries have caused significant psychological suffering. Other compensable losses may include loss of consortium or loss of enjoyment of life.
- Property damage. If the injury resulted in damage to your property, such as a vehicle in a car accident, include the cost of repairs or replacement.
- Future damages. Consider long-term consequences of your injury, including ongoing medical treatment, therapy, and any necessary accommodations or modifications to your home or lifestyle.
Some other factors to consider are:
Comparative fault law. Washington State follows a comparative fault system, which means the settlement amount may be reduced if you are found partially responsible for the accident.
Insurance policy limits. The at-fault party’s insurance policy limits can affect your settlement amount. If their policy has a low limit or there are multiple plaintiffs seeking to recover damages, it may limit the amount you can receive.
Precedent and case law. Your attorney will research similar cases and settlements in your jurisdiction to determine what is a reasonable settlement for your type of injury.
Your injury lawyer will help you gather evidence, assess the value of your claim, and negotiate with the insurance company or pursue a lawsuit if necessary. Keep in mind that each case is unique, and there is no one-size-fits-all answer to how much you should ask for in a personal injury settlement. It’s crucial to have a skilled attorney on your side to guide you through the process and advocate for your best interests.
Seek the help of a personal injury lawyer
If you or a loved one was injured because of the negligence of another, contact a personal injury lawyer to discuss your legal rights. Let an experienced accident attorney fight for the full compensation that you deserve. It is not uncommon to receive a settlement from the insurance company that is five to ten times larger with the help of a lawyer. Call the personal injury lawyers at Tario & Associates, P.S. in Bellingham, WA today for a FREE consultation! We have been representing residents of Whatcom County, Skagit County, Island County and Snohomish County since 1979. You will pay nothing up front and no attorney fees at all unless we recover damages for you!
