Anyone who gets injured in a car crash or another accident due to the negligent actions of another person may be overwhelmed by the medical bills and other expenses that keep piling up. In view of this, anyone who is preparing to file a personal injury claim – or has already filed one – deserves to know how much compensation they will obtain. Since calculating damages and losses in a particular situation takes some time and effort, many people are searching for the “average settlement for personal injury claims” in their respective states to find out the approximate amount of compensation.
So, what is the average settlement for a personal injury claim in Kentucky? In short, depending on the many factors in your case, you may be able to settle for several thousands or millions of dollars. According to findings by Lawyers.com, the average settlement or award obtained with the help of an attorney reaches $77,600. However, those who chose to represent themselves are able to recover only $17,600, on average.
Types of Compensation in a Personal Injury Settlement
In order to calculate the approximate settlement amount in your Kentucky personal injury case, you need to determine what types of damages are recoverable in your case:
- Economic damages, which refer to the victim’s direct expenses associated with the injury, including medical bills, loss of income, and other tangible losses.
- Non-economic damages, which are difficult to calculate because there is no price tag on them. These damages include pain and suffering, diminished quality of life, emotional distress, post-traumatic stress disorder, and many more.
- Punitive damages, which are available only if your case involves gross negligence or willful actions on the part of the other party. However, punitive damages, which are meant to punish the person who caused you harm, are not always awarded in Kentucky personal injury cases.
While economic damages are typically calculated by looking at your receipts of expenses, medical bills, and other proofs, non-economic damages are not easy to evaluate because there are no receipts, bills, or checks to show the degree of your pain and suffering or the severity of mental anguish. Typically, non-economic damages can be determined with the help of the so-called “multiplier method,” which involves taking your total economic damages and multiplying them by a certain number ranging from 1 to 5, depending on the facts in your case. As for punitive damages, it is up to the court to decide whether to award them or not.
How Long Does it Take to Settle a Kentucky Personal Injury Claim?
Understandably, a victim of a bicycle accident, auto collision, truck crash, or another accident wants to know not only how much money they can recover but also how long it will take to settle their claim and receive compensation. A multitude of factors affects the timeline of your Kentucky personal injury case, including the willingness of parties to settle out of court, whether your case involves any complicated issues, and whether an insurance company offered a fair settlement amount. If your case leads to litigation, the timeline of your case will shift dramatically. Talk to a knowledgeable personal injury attorney in Lexington, Kentucky, to evaluate your claim and determine the fair settlement amount. Contact Roberts Law Office for a free case review. Call at (859) 231-0202.