Personal Injury Settlement Amounts Statistics

Personal injury settlements are meant to provide compensation to those hurt by the actions of others. In every situation, the value of a personal injury settlement is the combination of economic and non-economic losses. Under most state laws, the goal is to provide financial compensation to the victim that will “make them whole” after suffering the losses.

How Much Compensation Is Typical in Personal Injury Cases?

The amount of compensation awarded in a personal injury case is dependent on the type of injury, the losses, the negligence involved, and the location. There is no way to provide a specific figure of what you can expect to receive. The fact is your personal injury attorney can provide the best insight into expected settlement only after reviewing your specific case and losses.

Most people receive compensation in a personal injury case that is worth the value of their medical bills, lost time at work, and property damage. This is often under $16,000 for a car accident, one of the most common types of personal injury claims.

If you look at the larger picture, which includes other forms of personal injury (including premise liability, workplace injuries, medical malpractice, and product liability), the average personal injury settlement amount is well over $75,000. A person involved in a motorcycle accident may be able to receive compensation that is much higher due to the severity of the injuries (with an average of over $79,000 by some estimates).

Average Personal Injury Settlements Amounts

The typical personal injury case compensation is based on the type of damages, the severity of those damages, and the associated pain and suffering. This can range widely from $2,000 up to $1 million depending on the type of injury and case. Consider some examples according to Forbes.

  • 49% of people received under $24,000 in personal injury settlements in 2023.
  • The median personal injury settlement award was $31,000 for all case studies.
  • In a medical malpractice case, the average personal injury settlement was $679,000.
  • The median award for a premise liability case was $90,000.
  • The median settlement amount in a moderately severe car accident was $16,000.
  • The median compensation paid out in a product liability case was $748,000.

What Affects the Outcome of Personal Injury Cases?

The outcome of any personal injury case is dependent on numerous factors – the type of injury, the scale, the severity of it, and whether or not the case is settled in court. Consider some of the most common factors that impact personal injury case settlement amounts and values:

  • Accident severity: An accident that causes serious injury or catastrophic injury is likely to have a much higher value than an accident with less risky outcomes. The severity of injuries sustained is one of the most important factors for several reasons.
  • The impact on the injuries on medical needs: One of the ways the severity of the accident impacts others is based on the impact that the injury has on a person. What type and how much medical care is necessary as a result of the accident? The more extensive the injuries, the more complicated the medical care needs as well.
  • The impact of the injuries on future: Another factor is how well that person may recover from the losses they sustain and how the losses impact their day to day life. Can they work? Are they able to meet their daily needs?
  • The length of treatment: In cases where a person will be able to recover, a big factor in the value of a settlement is the length of treatment. A person may not spend any time in a hospital while others will. There is also the fact that some individuals will experience ongoing medical needs including numerous surgeries, rehabilitation, and long-term recovery with sustained help.
  • The emotional damage suffered: A type of non-economic loss, the emotional damage from an accident is a critical factor in determining compensation. Those who have significant trauma may need ongoing care and support.
  • Liability: The level of liability a person has is also an important factor. If the victim shares some of the liability for the accident, the settlement amount is likely to be lower.
  • Cost of litigation: Settlements are less expensive than going to court, but victims are compensated for any losses they spend on litigation (including lawyer fees) from the at-fault party.

How a Lawyer Can Help with Personal Injury Settlement Amounts

There is a direct correlation between how much a person receives in compensation from a personal injury case and whether or not a person has an attorney. The reason for this is simple. An attorney can help in the following ways:

  • Determine all parties at fault: This may be more than just the person driving a car, for example. By determining all aspects of liability, there are more avenues to pursue compensation.
  • Providing more evidence of recklessness: By gathering more intense and harder to obtain evidence, such as from medical reports and expert witness statements, it is possible to potentially increase compensation claims.
  • Better understanding of losses: It is very common for people not to know how much their case is worth. That is because they do not realize the numerous types of losses for which they may qualify over time. This is very true about non-economic losses that are less specific and more subjective in value.
  • Better negotiation ability: Attorneys know how to negotiate with the insurance company or go to court to prove your case.
  • Less risk of litigation: Most of the time, insurance companies want to settle out of court because of the lower cost to them. Attorneys can help to bring enough pressure to encourage that to happen.

Timeline of Personal Injury Claims and Settlements

The timeline is dependent on the severity of the injury and the pushback from the insurance company. Out of court, it may be settled within a few months. When it is in court, the process can often take longer, between 12 and 14 months.

FAQs

How is a personal injury settlement calculated?

The value of a personal injury settlement will include all losses possible, including medical bills, lost wages, and personal property damage. It also includes all non-economic losses, including pain and suffering, emotional trauma, loss of quality of life, and other losses.

How do I know if the personal injury settlement amount provided is fair?

The only way to know this is to compare your losses with your ability to recover from the injury. With the help of a personal injury attorney, it is possible to learn if the settlement amount offered to you is fair.

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