The final value of a personal injury settlement depends on several key factors. Understanding these factors can help you have more reasonable expectations about the potential value of your claim.

Type and Severity of Injuries

One of the most important factors is the type and severity of your injuries. More serious injuries that result in ongoing medical treatment, permanent disabilities, lost wages, and diminished quality of life typically result in higher settlement values. Minor soft tissue injuries that heal relatively quickly typically have lower values. Severe injuries like brain damage, paralysis, or fatalities have some of the highest settlement values. 1.7 million people suffer a traumatic brain injury each year, with falls and motor vehicle accidents both major causes.

The full effects of the injuries, prognosis, and required future treatments are considered when determining severity. Ongoing injuries that require long-term care and treatment will increase the potential value.

At-Fault Party’s Insurance Coverage

The amount of liability insurance coverage available from the at-fault party also affects potential settlement amounts. This insurance coverage is meant to compensate injured victims. Higher insurance policy limits allow for larger settlements within those limits. Minimum required auto liability insurance in Illinois is $25,000 per injured person. Policies can go up to $500,000 or even $1 million or more in coverage though.

If the at-fault party only has minimum required insurance, the settlement will likely be lower versus a policy with much higher limits. In some cases, personal assets or other insurance policies may be pursued if damages exceed liability coverage.

Contributory Negligence

Illinois follows modified comparative negligence rules. This allows injury victims to still recover damages if they were partially at fault (as long as it is less than 50%). Their awarded settlement amount is reduced by their percentage of fault.

There were 298,347 motor vehicle crashes in Illinois during 2022. If an injured person involved in one of these accidents is found 25% negligent, their settlement amount would be reduced by 25%. If they are found to be over 50% at fault, they cannot recover any damages.

Types of Personal Injury Settlements

There are a few potential outcomes when pursuing injury compensation with the help of a lawyer:

• Pre-trial Settlement—The majority of personal injury claims settle out of court before a trial starts. Both parties want to minimize legal costs and avoid an uncertain jury decision.
• Jury Verdict at Trial—If a pre-trial settlement is not reached, the claim proceeds to a trial by jury, which decides on financial awards. Jury awards tend to be higher.
• Arbitration or Mediation—As alternatives to court trials, cases can be settled through arbitration or private mediation. Settlement amounts may be lower through these alternative resolution methods.
• Structured Settlement—Parties may agree to a structured settlement, which provides periodic payments over many years instead of one lump sum payout.

Adam Zayed, one of the personal injury lawyers in Chicago at Zayed Law Offices, a recognized law firm, recommends having an experienced attorney who can negotiate the most favorable settlement or court award, which can impact the outcome of your personal injury claim. Proving liability and damages through evidence and expert testimony is key. Overall, the full impact and severity of the injuries, along with available insurance coverage, are the most significant factors affecting potential settlement payouts.

Disclaimer: This article is for informational purposes only and does not constitute legal advice. Each personal injury case is unique, and outcomes may vary based on individual circumstances. For specific legal guidance, please consult a qualified attorney.

Published by Jeremy S.