After an injury accident, you may be wondering how much you might be able to recover through a personal injury settlement. You may ask yourself, “How much is my personal injury case worth?” or “What’s the average personal injury settlement?” While a Jackson personal injury lawyer can help you understand the potential value of your claim, there are some important things to know about how the process works.
Why There Is No Average Settlement Amount
The “average” personal injury settlement in Jackson isn’t an especially meaningful metric to ponder in the aftermath of an accident. This is because no two claims are alike. On the surface, the details of one case may appear similar to those of another, but once you dig deeper, you’ll discover all kinds of factors that can substantially alter how much a case might be worth. In other words, the specific facts of your case will have a much greater influence on its possible value than any average settlement amount.
What Compensation May Be Included in a Personal Injury Case
A personal injury claim may seek compensation for a variety of accident-related losses, both financial and personal, including the following:
- Medical expenses, including future costs
- Lost income, including diminished earning capacity or potential
- Physical and emotional pain and suffering
- Diminished quality and enjoyment of life
How Personal Injury Case Value Is Calculated
How much is your personal injury case worth? There are a couple of ways of calculating claim value. The most common method is the multiplier method, which multiplies your total economic losses by a factor between 1.5 and 5 to estimate the value of your non-economic losses. You’d then add these two numbers to arrive at the total compensation amount.
The other approach to calculating non-economic losses involves assigning a daily value to those losses and multiplying it by the number of days in your recovery period. Again, you’d add this number to your economic losses to get a total compensation amount.
Insurers and attorneys alike may use these methods to calculate compensation, but their official use is limited to the court.
What Can Increase or Lower Your Settlement
A variety of factors can influence your total settlement amount. Chief among these are the type and severity of your injuries and the amount of financial losses you incur. Broadly speaking, cases involving more severe injuries that require more extensive medical treatment and have long-term implications tend to be more valuable than cases involving relatively minor injuries that heal completely.
Another key factor that can affect your compensation is whether you bear partial responsibility for the accident that caused your injuries. Under Mississippi law, you can still recover compensation if you’re partially at fault, but the court will reduce your compensation in proportion to your share of responsibility.
A Jackson personal injury attorney can help fight back against attempts to pin extra blame on you and reduce your compensation.
Speak With a Jackson Personal Injury Lawyer to Learn More
If you got hurt in an accident someone else caused, you may be entitled to compensation for the resulting losses. Turn to the office of Derek Hall for the legal support you need to pursue the financial recovery you deserve. Contact us today to get started with a free, no-obligation, fully confidential consultation.
