Budgeting a Personal Injury Settlement

Budgeting Personal Injury SettlementAt Joe Knows Law, every personal injury case is a little different. We represent victims of severe traumatic injuries, people with minor injuries from a car accident, individuals who have been injured because they used a defective product, and more. Since every case is a little different, the personal injury settlement usually varies. Most people want to know the settlement amount they should expect to recover before they fight their case. Budgeting a settlement is not a perfect science, but you can get a ballpark estimate with these suggestions.

Evaluate Your Damages

In a personal injury cases, victims are usually compensated for the damages they have sustained. The following are examples of common damages that you might be able to recover in a personal injury settlement:

• Medical bills
• Loss of income
• Physical damage

It is important to properly document these damages for your claim for evidence purposes.

Related to the Accident

The personal injury settlement you receive will be related to the accident. Therefore, you cannot expect to recover medical bills that correspond to a past injury. Instead, an insurance company will compensate you for the losses you experienced as a result of the accident.

Pain and Suffering

In addition to physical damages, many people receive compensation for their pain and suffering. It is hard to put an exact figure on how much you can recover because of your pain and suffering. Our attorneys can give you a better idea of what you can expect based on your situation.

Other Factors

There are other factors that might influence your settlement amount. These include things like your age, the strength of your case, and if your injury is long-term.

If you need help determining how much you can expect to recover from your personal injury case, contact Joe Knows Law today at 972-346-5180.