Personal Injury Settlement Averages

When victims of personal injury are considering filing a personal injury claim one of the first questions to which they want an answer is, “What are personal injury settlement averages?” Unfortunately, there is no clear-cut answer to this question as the amount of money paid for personal injury settlements is based on a number of factors that vary from case-to-case. The amount of the personal injury settlement paid by the insurance company or by the individual responsible for the victim's injuries will depend on factors such as the following: the severity of the accident, the extent of the injuries suffered by the individual, and the extent of medical treatment the victim's injuries required (e.g. hospitalization, surgery, rehabilitation).

Actual damages and punitive damages are two types of damages that may be included in a personal injury settlement. Actual damages are those monies awarded to the victim for the injuries he or she suffered as a result of another party's negligence. These damages are intended to compensate the victim for things such as lost wages, medical expenses, and pain and suffering. Punitive damages serve to further punish the party responsible for the victim's injuries by holding them criminally accountable in a court of law. When punitive damages area attached to a personal injury settlement, the amount of the settlement often increases. In general, individuals that have suffered serious, life-altering personal injuries will most likely receive larger personal injury settlements.

Victims will sometimes decide whether or not to file a personal injury claim based on the answer to the question, “What are personal injury settlement averages?” Personal injury victims should be less concerned with the settlement averages and more concerned with the amount of monies they will need to pay their medical bills, recoup their lost wages, and ensure their future financial stability. Because each personal injury case is different, victims of personal injury should not compare their case to previous cases to determine their personal injury settlement.