Final Personal Injury Settlement

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What Determines A Final Personal Injury Settlement

Did you suffer an injury that was caused by another person? If so, you could sue and receive compensation to cover the damages that they caused. Unfortunately, one of the most complicated parts of a personal injury lawsuit is determining how much your damages are worth.

The final settlement amount you receive is not pulled out of thin air, but is actually determined by a variety of factors that have direct or estimated financial values. These will be the factors that determine the how much money you get from a settlement.

Special Damages

Any direct financial losses you sustain will be considered special damages. It will cover the expenses that you end up paying for from your own pocket, …show more content…
You have no idea how your recovery will go and what sort of medical bills could be racked up as a result. For example, if an injury keeps you out of work, there will be additional lost wages you are unable to account for at the time of a settlement.

That is why your biggest asset during a personal injury case will be your lawyer. They will help estimate all of the future costs so that you are covered financially with your final settlement. A lawyer determines future costs by based off past experiences and by getting expert testimony from medical professionals.

General Damages

There will be a variety of damages with a value that cannot be directly measured with a bill. The court refers to them as general damages, and they can cover suffering where the damage can be subjective. General damages includes:

• distress
• pain and suffering
• mental anguish
• lost companionship
• reputation damage
Putting a monetary value on these damages is tricky, but you can expect general damages to be 1x-5x the value of your special damages. The nature of the personal injury will be the main factor that determines the final value of your special …show more content…
Once all of the previous damages have been determined, those damages could be reduced based on how responsible you were in the personal injury.

For instance, if you were involved in an auto accident where you did not have any fault, such as being rear ended while stopped at a red light, you would be entitled to 100% of your personal injury compensation. If you were found somewhat responsible for the accident by driving over the speed limit, you could be assigned a percentage of fault that would reduce your settlement accordingly.

Damage Caps

Your settlement amount may be restricted by damage caps according to Louisiana state laws. The main cap that you need to know about is in medical malpractice cases, which limit you to receiving $500,000. Thankfully, this cap excludes any future medical care you may need.

There are also caps on benefits related to temporary total disability. If you qualify for these benefits, expect to only receive 2/3 of what you make on average each week for lost wages.

Steven W. Harris, Attorney can help guide you through the personal injury settlement process so you receive the compensation you
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