How Much is a Brain Injury Settlement Worth?
Brain injuries are among the most life-altering and financially devastating events an individual can experience. With symptoms potentially lasting a lifetime and medical expenses piling up, it can be challenging to recover and return to normal life. Combine this with lost wages, and you’ll understand why it’s crucial to have a skilled Charleston brain injury lawyer help you recover the compensation you deserve.
Factors Affecting Brain Injury Settlements
The value of a brain injury settlement can vary greatly depending on a number of factors, including the following:
Severity of the Injuries
The severity of your brain injury plays a significant role in determining the value of your settlement. Mild brain injuries may have a lower compensation value than more severe cases, which might lead to lasting impairments or permanent disability.
Medical Expenses
One of the most substantial financial burdens resulting from a brain injury is the cost of medical treatment. These expenses can include:
- Hospital bills
- Ongoing rehabilitation and therapy
- Medications and medical devices
- In-home care or assistance
- Future medical costs
The higher your medical costs, the higher your settlement will usually be. Your lawyer will work to include these expenses in your settlement claim, ensuring that you don’t face financial hardship as a result of your injury.
Lost Wages and Earning Capacity
Being out of work due to a brain injury can result in significant financial loss. A settlement should take into account your:
- Time missed from work
- Reduced earning capacity due to disability – meaning your ability to earn the same amount of money as before the accident
- Loss of benefits, such as retirement contributions or health insurance
Insurance Coverage of the Responsible Party
The defendant’s insurance coverage will play a role in determining your settlement value. If the responsible party has insufficient or no insurance, it may be necessary to pursue additional avenues for recovering compensation.
Property Damage
In some situations, you may also have suffered property damage. Compensation for these damages can be included in your settlement.
Pain and Suffering
Your brain injury may cause ongoing physical pain and emotional distress. These non-economic damages should also be factored into your settlement value.
Punitive Damages
In cases where the defendant’s conduct was exceptionally malicious or reckless, punitive damages may be awarded to further compensate you and punish the defendant:
“Punitive damages may be awarded only if the plaintiff proves by clear and convincing evidence that his harm was the result of the defendant’s willful, wanton, or reckless conduct.”
Your lawyer will be able to advise you on whether pursuing punitive damages makes sense in your specific case. This could increase your settlement amount.
5 Ways a Lawyer Can Help You Maximize Your Brain Injury Settlement
Having a lawyer on your side can make all the difference in your brain injury case. Here are five ways a lawyer can help:
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Evaluate your case: A lawyer will thoroughly assess your case, taking into account all relevant factors to determine its true value.
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Collect evidence: A lawyer will gather crucial evidence to build a strong case, including medical records, witness testimonies, and accident reports, among others.
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Negotiate with insurance companies: A lawyer’s expertise in negotiation can be invaluable when dealing with insurance companies, who often try to minimize payouts.
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Navigate complex legal processes: A lawyer will guide you through the intricacies of the legal system, ensuring your case is handled properly and professionally, filing everything on time so you don’t miss out on compensation.
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Represent you in court: If your case goes to trial, having a skilled lawyer on your side can significantly improve your chances of success and obtaining the compensation you deserve.
If you need help from a brain injury lawyer, don’t wait. Contact us to schedule a free consultation.
