Jason Stephens | November 28, 2022 | Personal Injury
If you were injured due to someone else’s negligence, you deserve to be fairly compensated. But what is fair compensation?
A Fort Worth personal injury lawyer can review the circumstances surrounding your case and give you a better idea about the potential value of your claim. We can also give you a clear picture of what to expect and dispel myths surrounding personal injury cases so you can make an informed decision about how to proceed with your case.
Myth #1: Personal Injury Settlements Are a Get-Rich Quick Scheme
Some people believe that any car accident victim is just trying to get rich quickly. At Stephens Law, we work firsthand with personal injury victims, and we know how real their injuries are.
Personal injury settlements provide the resources accident victims deserve after being harmed due to someone else’s negligence.
Myth #2: There Is an Average Settlement for a Personal Injury
Every personal injury case is different, so there is no such thing as an average settlement for a personal injury case. Let’s take some personal injury settlement examples to explain.
Plaintiff A was in a fender bender. They suffered whiplash and were out of work for a few days. They have fully recovered and the accident is just a blip in their memory.
Plaintiff B was in a serious truck accident. They suffered a herniated disc, a permanent injury that left them disabled. They can no longer work. They deal with daily suffering. Their relationship with their loved ones has also been negatively impacted.
As you can see, the injuries, effects, and consequences for these two accident victims are very different. Permanent injury settlement amounts tend to be higher because the losses are more serious.
Myth #3: The Insurance Company Will Give You a Fair Car Accident Injury Settlement Amount
Unfortunately, insurance companies are not interested in providing victims with fair compensation. They are for-profit companies that want to resolve claims for as cheaply as possible. They may even try to settle your claim for less than the amount of your medical bills.
They definitely will not want to compensate you for lost wages, property damage, and your pain and suffering. This is why it is so important to have an experienced car accident lawyer on your side who will fight for your fair compensation.
Myth #4: It Is Always Worth It to Go to Court
While personal injury lawsuit settlement amounts may be higher than cases that are resolved prior to trial, there can be significant drawbacks of going to court.
First, there is no guarantee that you will win your case or that a judge or jury will compensate you any better than the insurance company offered. Second, it takes a lot longer to take your case to court than to resolve it through a settlement. Third, the defendant can appeal the decision, so even if you win, you might still be waiting years before you ever see any money. Finally, going to court can cost you more in the long run.
Let’s take a look at a couple of personal injury settlement amounts examples.
Plaintiff A is injured in a car accident. They work out a settlement with the insurance company for $100,000. Their retainer agreement specifies that they will pay ⅓ to their lawyer. They do not have any extra legal costs. Their personal injury settlement amount would be calculated as:
– $33,333 (⅓ of $100,000)
Plaintiff B is also injured in a car accident. They are unable to reach an agreement with the insurance company. They take their case to court. The jury awards them $200,000. However, their attorney’s retainer agreement says that any case that goes to court will incur a 40% fee.
Additionally, they have to hire medical and economic experts and engage in lengthy discovery, resulting in an additional $60,000 in costs. Their personal injury settlement amount would be calculated as:
– $80,000 (40% of $200,000)
– $60,000 (costs)
As you can see from these personal injury lawsuits and settlement amounts, even though Plaintiff B was awarded more compensation, they wound up with less because of the additional costs related to bringing their case to court.
Contact an Experienced Fort Worth Personal Injury Lawyer for Help
An experienced personal injury lawyer can give you a better idea of the potential value of your claim and whether it is recommended to go to court or try to resolve your claim through a settlement. Personal injury lawyers will look out for your best interests, unlike insurance companies.
If you’ve been injured in an accident in Fort Worth and need legal help, contact our Fort Worth personal injury lawyers at Stephens Law Personal Injury | Wrongful Death | Truck Accidents to schedule a free consultation.
Stephens Law Personal Injury | Wrongful Death | Truck Accidents
1300 S University Dr # 300
Fort Worth, TX 76107