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Is There a Minimum Personal Injury Settlement Amount?

Personal injury settlements can sometimes be notorious if they are in extremely large amounts. The court system has set no maximum for the amount personal injury suits can be settled. Since the sky is the limit, people often picture substantial settlement amounts in personal injury cases. However, there is little talk about smaller personal injury lawsuit settlements for more minor or less noteworthy injuries. It’s important to know that even if your personal injury seems small if it caused you significant financial trouble or pain and suffering, it may still be worth your while to make a claim.

So, Is There a Minimum Settlement Amount?

The answer to this question is somewhat complicated. The short and consecutive version is: no, there is no minimum settlement amount, just as there is no maximum settlement amount. It’s key to note that any amount you receive in a personal injury settlement is dependent on several factors.

What Factors Affect a Personal Injury Settlement Amount?

Many contributing factors affect a personal injury settlement amount since each personal injury case is unique, and a given judgment is dependent on several factors, too. Some contributors to calculating the settlement amount are the number of medical costs you incurred as a result of the personal injury, the extent or type of injury you suffered, any damage incurred to vehicles or homes as a result of the incident, a loss of a job or hours as a result of the injury, and non-economic costs like pain and suffering and mental harm and sorrow. You may also be able to present the costs of burying or holding a memorial service for someone who died as a result of an injury case.

Special Cases to Be Aware Of

Sometimes, a settlement amount may be deemed insufficient by the presiding judge over a case. In this case, a judge can rule that the settlement amount be increased. This was the case in the class action lawsuit for the Rescue Workers From Ground Zero’s injuries. Where a judge ruled that the settlement amount should be increased by 8%.

Contact Herrman & Herrman P.L.L.C. at 361.882.4357

Our firm is equipped with over 100 years of cmbined experience handling personal injury cases across Texas. Our outstanding record of favorable settlements and verdicts includes over 20,000 successfully resolved cases. Once we take on a case. We are relentless. You can rely on us to pursue full compensation for you.

  • You can trust our attorneys to be compassionate and professional.
  • We will fight hard to obtain a fair settlement for you.
  • Our firm represents the injured and families who have lost a loved one due to others’ negligent acts.
  • We serve as counsel in a range of injury cases – including car, truck, motorcycle, bicycle, and pedestrian accidents, premises liability cases, product liability cases, and medical malpractice claims.
  • We have the ability to dispatch the Herrman & Herrman Accident Investigative Team to the crash scene to start an investigation and preserve critical evidence.