When it comes to payouts for a personal injury case, these amounts can range from $3,000 to $25,000, with some individuals even receiving over $25,000. That is why the overall average of a personal injury settlement is around $52,900. Of course, depending on the circumstances of the accident, there are also significant outliers, even in Louisiana, where some cases settle in the millions of dollars.
For these reasons, the best way to determine where your case may fall on the spectrum of average personal injury settlement amounts in Louisiana is to speak to a knowledgeable personal injury attorney.
How does a Personal Injury Accident Settlement Work in Louisiana?
A settlement is a formal agreement that ends an argument or a dispute, such as a pending lawsuit following an accident. Most personal injury cases are resolved through the settlement process, meaning that instead of heading to court, the injured individual can file a claim with the insurance company, the company will then evaluate the damages and make a settlement offer.
Depending on the offer, the individual can either accept this amount or decline it and try to negotiate for more money. If negotiations are not working out, the individual can pursue a lawsuit and head to court to fight for a higher amount of compensation.
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How Much Is a Personal Injury Case Worth in Louisiana?
Because every case is different, there is no exact payment for any one type of injury. In fact, there are numerous factors that can impact a case’s worth and, as a result, the amount of money that you can receive. Take, for instance, the following factors:
- The severity and the extent of the injuries (spinal cord injury versus a broken bone)
- The types of medical treatments required
- Whether future medical care will be needed
- The length of these medical treatments
- Whether the injuries that resulted are permanent or led to a disability
- The ability to work following the accident
- Whether the accident resulted in lost wages
- Did the injuries result in disruptions to normal daily activities
- The credibility of the evidence presented
- The certainty of the defendant’s liability
- The extent of the pain and suffering
- Whether replacement services are needed following the accident, such as cleaning services or child care help
Fortunately, when you work with an experienced personal injury attorney in Louisiana, these skilled lawyers can review your case, figure out which of these factors can influence your financial recovery, and prepare the strongest case on your behalf, helping you go after maximum compensation.
What to Consider When Settling a Personal Injury Case in LA
Another factor that will impact the amount of an average settlement in Louisiana is how much the at-fault party can pay. This is because, even if the other party is 100% responsible, but you have a high amount of damages, the task of collecting a judgment can often impact the average settlement amount.
For instance, let’s say you were in a car accident and have a claim worth $40,000. However, if the other side’s insurance policy only has a $30,000 limit and the individual has very few other assets, it may be in your best interest to settle the case for the insurance limit. This is because, even though your case is worth much more, you need to consider your ability to collect the whole judgment from the other side, meaning that you may not be able to get the money that you need, even if you pursue this amount.
Types of Damages Included in a Louisiana Settlement
Typically, in a personal injury case, the types of damages you can receive are divided into two groups: economic and non-economic damages.
Economic damages are the easily verifiable losses that result from the accident and generally include compensation related to medical bills, lost wages, and property damages. In comparison, non-economic damages are the types of losses that stem from the underlying accident or injury that are not easily measurable. They include compensation for pain and suffering, loss of enjoyment of life, and loss of companionship.
Due to the complexity of these damages, it may be in your best interest to discuss your case with a skilled Louisiana personal injury attorney. These attorneys can determine what damages you should pursue and help you go after the compensation you are entitled to.
How an Experienced Louisiana Personal Injury Lawyer Can Help You Seek a Fair Settlement
If you sustained injuries in a personal injury accident in Louisiana due to another person’s wrongful, negligent, or reckless actions, it is time to go after the financial compensation and justice you are entitled to. Fortunately, with a skilled and knowledgeable Louisiana personal injury attorney on your side, you will not have to take on this legal fight yourself. Instead, these attorneys can:
- Go over your personal injury accident, determine the viability of your legal claim, and figure out your legal options.
- Investigate your personal injury accident and secure the evidence needed to prove what happened and who was at fault.
- Bring in the experts, including accident reconstructionists and financial specialists, to help validate your claim and go after the money you need.
- Handle all the discussions and negotiations with the insurance company and the other side and fight for a settlement offer that is fair to you.
- Head to trial if the other side is not willing to provide you the settlement amount you need, and go after maximum compensation.
Contact Morris Bart Today to Fight for the Money You Need
If you or a loved one have been injured in a personal injury accident in Louisiana and are ready to fight for the money you need, do not wait any longer to retain the legal help you need. Instead, contact Morris Bart today for a free case consultation and let our skilled legal team help you go after the financial damages you deserve.
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