Looking to get the highest payout from your personal injury case?
Every year thousands of people settle their injury claims for a tiny fraction of what they could receive. They take the first offer from the insurance company and leave with just enough to pay the medical bills. And here’s the crazy part…
Most people don’t even know they’re leaving money on the table.
If you’ve been hurt by someone else’s negligence, then you deserve to be compensated fairly. But how do you actually go about getting it? Personal injury law services can make a huge difference and knowing how the settlement process works is critical.
Here’s how to maximize your payout…
Contents
- Why Do Settlement Amounts Vary So Much?
- The Shocking Truth: What Happens If You Go At-Tort Unrepresented?
- How To Build A Winning Injury Compensation Claim
- Negotiation Strategies That Work
- When To Accept A Settlement (And When To Say No)
- A Glimpse At The Timeline
- Wrapping It All Up
Why Do Settlement Amounts Vary So Much?
Personal injury settlements can range from the thousands to the millions.
Here’s the reality: Settlement amounts depend on a number of factors and can range from a few thousand dollars to six or seven figures. According to recent data, personal injury settlements tend to average between $24,000 and $55,100 for most cases.
Wow! What accounts for this enormous range?
The amount of compensation you can get is impacted by a number of different factors, some more than others:
- Severity of your injuries – The more severe and permanent your injuries, the higher the payout.
- Medical expenses – Both current and future medical costs play a role in settlement calculations.
- Lost wages – Both present and future lost earning capacity.
- Pain and suffering – Non-economic damages can also have a major impact on your settlement.
- Liability – The clearer the liability and negligence, the stronger your position at the negotiating table.
Different types of personal injury also have different average payouts. For example, medical malpractice cases have an average payout of $423,607 whereas a simple car accident claim averages between $15,000 to $50,000.
A huge difference, right?
The Shocking Truth: What Happens If You Go At-Tort Unrepresented?
Do you think you can manage your injury claim all by yourself?
Think again. When it comes to personal injury, professional legal representation isn’t a luxury – it’s a necessity. If you want to find legal support for your injury case, having an experienced injury law service on your side completely changes the game.
Do you need proof? On average, payouts are nearly three times higher for people with representation.
Let that sink in for a minute.
Insurance companies have whole departments dedicated to minimizing payouts. They know all the tricks, loopholes, and intimidation tactics to get you to settle for as little as possible. Fighting them without the backing of professional legal services is a suicide mission.
Not only that…
Approximately 91% of people with lawyers receive a settlement, whereas, only 51% of people that go unrepresented do.
Zero.
How To Build A Winning Injury Compensation Claim
Building a strong claim isn’t rocket science but it does take attention to detail.
One of the most important things you can do to maximize your settlement is keep meticulous records of your injury, including:
- Every medical report and treatment
- Photographs of your injuries and the accident scene
- Police reports and witness statements
- Documentation for lost wages from your employer
- Receipts for all injury-related expenses
Document everything. Don’t leave out any detail you think is unimportant. Something you may think isn’t relevant could become important later in the process.
Your medical treatment also matters a lot. Following doctors orders and getting treatment isn’t just good for your health – it directly affects your settlement. Insurance companies look for holes in your treatment and failure to comply to argue your injuries aren’t severe.
Stick to your treatment and keep all follow-up appointments.
Negotiation Strategies That Work
Insurance companies lowball their first offer expecting you to take it.
Don’t.
You might not know this but 70% of claimants that hold out for higher payouts receive a settlement that is $30,700 more than the average person that accepts the first offer.
Life changing, right?
Negotiating with the insurance company is the real battle. The key is to know your case value before walking into the negotiation room. Your attorney will calculate:
- Economic damages (past and future medical bills, lost wages, property damage)
- Non-economic damages (pain, suffering, emotional distress)
- Future costs (ongoing treatment, reduced earning capacity)
From there you want to make an initial demand higher than what you’re willing to settle for. This gives you some negotiating room and starts the conversation at a high number.
Insurance adjusters will try to lowball you, argue your injuries aren’t that bad, or dispute liability. The good news is they know the negotiation tactics that work and can be called out by your attorney.
When To Accept A Settlement (And When To Say No)
Timing is everything when it comes to settlement offers.
Approximately 95% of personal injury cases settle before trial, meaning that in most cases, fair settlements are reached before ever having to go to court. But there are times when the insurance company won’t play ball and just won’t offer a reasonable amount.
When is it time to consider going to court?
Suing and going to trial is usually the last resort but in certain situations, it might be the best option:
- The settlement offer is way below your case value
- Liability is clear and the evidence is in your favor
- The negligence of the defendant was particularly egregious
- You’re prepared for a longer wait to receive higher compensation
But there are also risks that come with trial. They’re expensive, take a long time, and outcomes are never guaranteed. Your attorney should go over these factors with you and help you make an informed decision.
The key is having a realistic idea of the value of your case and knowing how strong your evidence is.
A Glimpse At The Timeline
You need to be patient in personal injury cases.
It’s human nature to want to settle our injury cases as quickly as possible but rushing can mean leaving money on the table. Straightforward motor vehicle accident cases usually take six to nine months to settle after you’ve completed all medical treatment.
Longer, more complex cases can take several years to go to trial and get a verdict.
Why is timing so important?
The most important reason is that you need to reach what’s called maximum medical improvement (MMI) before you settle. Maximum medical improvement is when you’ve healed as much as you’re going to. This allows doctors to project what future treatments will be necessary and assess if you have any permanent damage.
If you settle before reaching MMI you may not include:
- Future medical treatment and costs
- Future long-term complications
- Permanent disability and disfigurement
- Long-term therapy and rehabilitation
Remember that once you accept a settlement and sign a release, you can’t go back and ask for more money. That settlement is final.
Be absolutely certain all future costs are included before signing any settlement agreement.
Wrapping It All Up
The only way to maximize your personal injury settlement is through strategy.
One of the most important things you can do is have the right attorney on your side. Good legal representation is the single most important factor that multiplies your payout.
Attorney makes sure all important details are included, fights for you at the negotiation table, and are experts in knowing when to walk away.
The stats are very clear on this point – having professional legal services on your side can lead to nearly three times higher payouts. It’s hard to find a better investment than that!
The road to maximum compensation starts with one decision… getting professional legal services on your side to assist with your claim.
