If you or a loved one suffers from a traumatic brain injury (TBI) because of a car accident, it can be expensive and may require long-term care. It can be difficult to determine the average settlement amount for a TBI case as it can vary significantly.
There are five main factors that can affect the settlement amount: the severity of the injury, the characteristics of the victim, the value of non-economic damages, whether punitive damages are awarded, and the financial position of the at-fault party.
In general, a more severe brain injury will result in a higher brain injury settlement value due to higher medical expenses, lost earning ability, and pain and suffering. Personal characteristics, such as age and family status, may also affect the settlement value. Non-economic damages, such as pain and suffering, can also increase the settlement value. Punitive damages, which are meant to punish the at-fault party, may also be awarded in some cases. Finally, the financial position of the at-fault party can also influence the settlement amount. Let’s look at these factors that affect a brain injury settlement in detail.
Severity of the brain injury
The amount you can expect to receive in a brain injury settlement will generally be higher if the brain injury is more severe. For instance, a severe TBI is likely to lead to a larger settlement than a mild TBI or concussion. This is because serious brain injuries often result in higher medical costs, lost wages, and more pain and suffering, which can all affect the settlement amount. It’s important to note that serious brain injuries may also require ongoing therapy and medical care for the rest of the victim’s life, which can also increase the amount of a brain injury settlement.
Characteristics of the injured person
The personal characteristics of a brain injury victim, such as age and family status, may affect the settlement amount. For example, a young victim of an accident suffering from a TBI that is the head of the household may be unable to return to work.They may need to learn new skills and find a new job.
On the other hand, a victim who suffers the same injury but is retiredwouldn’t have to find a new job to supporttheir spouse. Even though their injuries are the same, the first case is likely to receive a higher TBI settlement due to their injury having a greater impact on their financial situation and that of their family. Personal characteristics may result in a higher brain injury settlement.
Non-economic damages
In a brain injury case, there are typically two types of compensatory damages: economic and non-economic. Economic damages are simple to figure out as they include any losses that can be given a monetary value, such as medical expenses and property damage. Non-economic damages,such as pain and suffering, loss of enjoyment of life, loss of consortium, and inconvenience are harder to be given a monetary value.
Brain injury settlements will often be higher if there is large non-economic damage. Factors that can affect the amount of these damages include the severity of the injury, the victim’s job, education, and lifestyle, the victim’s family status, and how long the injury will affect the victim. It’s important to note that since non-economic damages can be difficult to calculate, it is recommended to seek legal advice from a law firm or personal injury attorney when trying to determine their value.
Punitive damages
In certain brain injury cases, a judge or jury may award punitive damages. These damages are not meant to compensate the injured victim but to punish the at-fault party for their actions, which must be particularly negligent or malicious for punitive damages to be awarded. If they are given, they will increase the overall settlement amount.
Financial position of the at-fault party.
In some cases, the financial position of the at-fault party can affect the settlement value in a brain injury case. For example, if someone causes a severe brain injury in a car accident but does not have the financial means to fully compensate the victim for their injuries, the financial position of the party will affect the final settlement amount.
For instance, if a motorist causes an auto accident that leads you to have a brain injury for the, but the motorist only has the minimum liability insurance required by the state, they may not have the financial means to fully compensate you for your losses, even if you require expensive medical treatment. In this situation, you may have to look to other sources, such as your own insurance coverage, to make up the difference.
When should you speak to an attorney?
It is generally best to seek legal representation as soon as possible after an accident to ensure that your rights are protected and to give you the best chance of obtaining a fair settlement. A brain injury can be a serious and life-altering injury, and it is important to have legal representation to ensure that you receive fair compensation for your damages. An attorney can help you understand your rights and options and can negotiate with the insurance company on your behalf to get you the best settlement possible. Additionally, an attorney can help you gather and present the necessary evidence to support your claim, such as medical records and witness statements.
Contact us by calling any time at 1-855-PROS-LLP (776-7557). Your case evaluation is always free and there is no cost unless we win!
