Claims and lawsuits are more likely to settle than go to trial. A settlement is an agreement by both parties on compensation. Parties often settle instead of going to trial. Trials can be very costly, and the judgment amount is still undetermined.
The average settlement amount for a personal injury case in Louisiana depends on several factors. If you have, consulting with a Lafayette personal injury attorney can help you understand the value of your case and the best course of action to pursue compensation.
What Effects A Settlement Amount?
Many different factors could affect a settlement amount. At the start of a lawsuit or claim, both parties gather evidence to piece together how the accident happened. This process applies to all personal injury lawsuits, including trip and fall and car accidents. The injured party’s attorney will gather all medical bills and receipts as part of the process to find out how much to compensate their client.
Below are some factors that affect the settlement amount:
The severity of the injuries
When a party is severely injured, they are more likely to receive a higher settlement amount. This is because severe injuries may require extensive treatments, such as surgeries or injections.
Permanent injuries may require lifelong medical care and physical therapy. Future medical care could affect the amount the injured party will need from the negligent party that caused the accident.
Lost wages
If the injured party was employed at the time of the accident and took time off due to the injuries, they could recover lost wages. Lost wages are calculated by looking at the injured party’s pay stubs to see what they could have received from their employer. The higher the position, the more earning potential, which increases the settlement potential.
Comparative fault
Louisiana’s comparative fault laws reduce compensation for parties partly at fault in an accident. For example, if the plaintiff was 20% responsible for their injuries, they may only recover 80% of their compensation from the negligent party. Because Louisiana is a pure comparative fault state, a victim may recover so long as they were not 100% at fault.
Pain and suffering
If an accident victim experiences expensive pain and suffering, such as anxiety, low self-confidence, or PTSD, they could recover a higher settlement amount. Emotional trauma usually results from severe and permanent injuries.
Insurance policies
Insurance policies have limits that cap the amount a claimant could receive. Insurance companies may only pay up to a certain amount. If your damages are more than the insurance policy offers, you can sue the at-fault party. Negotiation strategies are also key in determining a settlement amount.
An experienced Louisiana personal injury attorney will fight for your rights and secure the compensation you deserve. Contact our Louisiana lawyers today for more information on filing personal injury lawsuits.
What Type Of Injuries Result In Higher Settlement Amounts?
No accident guarantees a specific settlement amount. But, some cause severe injuries. Examples of severe injuries include:
- TBI: A traumatic brain injury could affect an injured person’s life forever. It may lead to long-term trouble focusing or thinking.
- Spinal cord injury: A spinal cord injury could make it difficult for the individual to walk or move.
- Amputation: Amputation of a limb could not only lead to extensive medical bills but emotional distress as well.
- Broken bones: Broken bones may not heal properly. At worst, they could cause paralysis or limit movement.
All of the above-mentioned injuries require the accident victim to take time off from work to heal, at a minimum. These permanent injuries are also likely to result in a loss of earning capacity.
Hire An Experienced Personal Injury Attorney For A Higher Settlement Amount
Several key factors determine the value of a settlement amount. These factors could change depending on the type of accident and the specific injuries you experience. Contact our top-rated Louisiana personal injury attorneys for a more accurate, personalized estimate of your settlement.
Contact our Baton Rouge Personal Injury Lawyers from Mansfield Melancon Car Accident and Personal Injury Lawyers for Help Today
For more information, please contact Mansfield Melancon Car Accident and Personal Injury Lawyers to schedule a free consultation with a personal injury lawyer in Baton Rouge, LA today. We have three convenient locations in Louisiana, including Baton Rouge, New Orleans, and Lafayette.
We proudly serve East Baton Rouge Parish, Lafayette Parish, Orleans Parish, and its surrounding areas:
Mansfield Melancon Car Accident and Personal Injury Lawyers – Baton Rouge Office
404 Europe Street
Baton Rouge, Louisiana, 70124
(225) 263-4787
Mansfield Melancon Car Accident and Personal Injury Lawyers – New Orleans Office
318 Harrison Avenue Suite 107
New Orleans, Louisiana, 70802
(504) 294-3804
Mansfield Melancon Car Accident and Personal Injury Lawyers – Lafayette Office
1318 Camellia Boulevard Suite 206
Lafayette, Louisiana, 70508
(337) 473-2991