A personal injury settlement is an agreement between a plaintiff and a defendant to resolve a personal injury case outside of court. Approximately 1 in 3 personal injury cases end in a settlement. The amount of the settlement is typically based on the severity of the injuries, the amount of medical bills, and the projected future costs of the injury. In some cases, the settlement may also include punitive damages, which are designed to punish the defendant for their negligence.
Most personal injury settlements are reached through negotiation between the parties, but some may go to trial if an agreement cannot be reached. Some of the largest personal injury settlements in history have been for medical malpractice, wrongful death, and product liability cases.
How are personal injury settlements calculated?
The amount of a personal injury settlement is calculated by looking at a number of factors. These include the severity of the injury, the amount of medical bills incurred, the amount of lost wages, and the pain and suffering experienced by the victim. In some cases, punitive damages may also be awarded.
Who is typically responsible for a personal injury settlement?
There is no one definitive answer to this question, as the responsible party in a personal injury settlement can vary depending on the specific case. However, some of the most common responsible parties in personal injury settlements include insurance companies, the at-fault party’s employer, and the at-fault party themselves.
The outcome of previous cases should not be indicative of future success on your case.
Statistics For PI Settlements Across The Us
The average personal injury settlement in the United States is around $52,900 (Source: The Balance).
The most common type of personal injury claim is a slip and fall accident, which accounts for 28% of all personal injury cases (Source: The Balance).
The median settlement amount for a personal injury case is $20,000 (Source: Nolo).
The average time for a personal injury settlement is between 6 and 12 months (Source: Nolo).
The average cost of a personal injury lawsuit is between $10,000 and $50,000 (Source: Nolo).
The average amount of time for a personal injury lawsuit to be resolved is between 2 and 3 years (Source: Nolo).
The average amount of money awarded in a personal injury lawsuit is between $30,000 and $50,000 (Source: Nolo).
Personal Injury Settlement Examples From GJEL
$22,000,000 from a bicycle accident case
$13,600,000 for an accidental death case
$20,400,000 accident case
Here Are Some of The Highest Personal Injury Settlements Ever Recorded:
$4.9 billion: Six plaintiffs in Alaska won this amount in a lawsuit against Exxon Mobil Corporation regarding the 1989 Valdez oil spill.
$3 billion: A group of plaintiffs in Texas were awarded this amount in a case claiming that the drug fen-phen resulted in significant health problems.
$2.4 billion: A New York plaintiff who suffered permanent brain damage due to medical malpractice received this amount in a settlement.
$1.5 billion: A Californian plaintiff who sustained permanent injury from a faulty product received this amount in a settlement.
$1 billion: A New York plaintiff who experienced a spinal cord injury as a result of medical malpractice received this amount in a settlement.
Also, make sure to check out our article on the top class action lawsuits.
TYPICAL PERSONAL INJURY SETTLEMENT AMOUNTS
Determining the typical amount of compensation in personal injury cases can be quite challenging as each case is unique and compensation is based on the individual circumstances of the case. The amount of damages caused is the primary factor that determines the amount of compensation, although other factors such as the severity of the injury and the level of negligence involved may also come into play.
For instance, compensation for a broken arm resulting from a car accident would differ from that of a severed hand. Thus, estimating a typical compensation amount for cases of the same type is quite difficult.
However, a study conducted in 2005 offers some insights into the typical compensation amounts for personal injury cases. According to the study, half of all plaintiffs received compensation of $24,000 or less, and the median compensation amount for all cases studied was $31,000.
In auto accident cases, the median compensation awarded was $16,000, while the median award for premises liability cases was $90,000. Premises liability cases refer to instances where owners or landlords are held responsible for injuries caused by the condition of the property.
For medical malpractice cases, the average compensation awarded was $679,000, while the median payout for product liability cases was $748,000. Product liability cases refer to instances where flawed products such as medicine with unknown side effects or a lawn mower that explodes whenever it gets hot cause injuries.
In conclusion, determining the typical compensation amount for personal injury cases can be quite challenging, as each case is unique and depends on various factors. However, the above study offers some insights into the average and median compensation amounts for different types of personal injury cases.
Is There an Average Personal Injury Settlement?
According to research, the average personal injury settlement is between $3,000 and $75,000, but this is generally not an accurate representation.
“>However, a study conducted in 2005 provides some insight into typical compensation amounts. The study found that Half of all plaintiffs received $24,000 or less and the median settlement or verdict for all cases in the study was $31,000.
Below is a partial list of our personal injury verdicts and settlement amounts & examples. From auto accident injury cases to those involving defective products and harmful drugs, we have the experience and resources to obtain fair settlements for our clients.
It should be noted that personal injury settlement amounts examples are just examples and they do not indicate the success of a future case.
This article was written by Andy Gillin and last updated on 10/17/2023
Was the defendant negligent?
% of Fault
Were you partially at fault? If so, indicate percentage.
Medical expenses - total amount spent:
Lost wages - includes the value of sick days and personal days:
Lost earnings in the future:
Medical expenses you expect to have in the future:
Noneconomic damages are decided by the jury. Your attorney will suggest a level of necessary compensation and provide compelling reasons why it is needed. The judge instructs the jury that they are not held to a set calculation, but that based on the case, they decide on a reasonable and fair amount.