When you’ve suffered a personal injury due to someone else’s negligence, understanding the settlement process can be overwhelming. At Ryan Orsatti Law, we believe that informed clients are empowered clients. This blog will break down the basic components of a San Antonio personal injury settlement, providing you with clarity on how much you can expect to receive.
Components of a Personal Injury Settlement
A personal injury settlement typically consists of several key components: medical expenses, lost wages, pain and suffering, and other damages. Let’s dive into each of these to understand how they impact your settlement amount.
1. Medical Expenses
Medical expenses form a significant part of any personal injury settlement. This includes costs for hospital stays, surgeries, doctor visits, physical therapy, and any future medical care related to the injury. For example, if you were involved in a car accident and required surgery, the costs of the surgery, follow-up appointments, and rehabilitation would all be included in the settlement.
2. Lost Wages
If your injury has caused you to miss work, you are entitled to compensation for lost wages. This includes both the income you have already lost due to your inability to work and any future income you might lose if your injury affects your ability to work long-term. For instance, if you are a construction worker who can no longer perform physical labor, your settlement will consider your lost earning capacity.
3. Pain and Suffering
Pain and suffering refer to the physical and emotional distress caused by the injury. This is often the most subjective part of the settlement and can vary significantly from case to case. Courts and insurance companies use various methods to calculate this, often considering the severity of the injury and its impact on your quality of life. For example, if you have sustained a severe back injury that prevents you from enjoying activities you once loved, this would be factored into your pain and suffering compensation.
4. Other Damages
Other damages can include a range of expenses and losses, such as property damage, loss of consortium (impact on your relationship with your spouse), and any other out-of-pocket costs incurred due to the injury. For example, if you had to hire someone to help with household chores you can no longer perform, those costs could be included in your settlement.
How Much Goes in Your Pocket?
After calculating the total settlement amount, it’s important to understand the deductions that will be made. These typically include:
- Attorney Fees: Personal injury attorneys usually work on a contingency fee basis, meaning they take a percentage of the settlement amount. This percentage can vary but is typically around 33-40%. For instance, if your settlement is $100,000 and your attorney’s fee is 33%, $33,000 would go to your attorney.
- Medical Liens: If your medical bills were covered by health insurance or other means, there might be liens that need to be paid from your settlement. These are amounts owed to medical providers or insurers who paid your bills upfront.
- Case Expenses: These are costs incurred by your attorney in the course of handling your case, such as filing fees, expert witness fees, and costs for obtaining medical records.
Example Settlement Breakdown
Let’s look at an example to illustrate how these components come together:
- Total Settlement Amount: $100,000
- Attorney Fees (33%): $33,000
- Medical Liens: $10,000
- Case Expenses: $2,000
Net Settlement Amount: $100,000 – $33,000 – $10,000 – $2,000 = $55,000
In this example, you would receive $55,000 in your pocket after all deductions.
Conclusion
Understanding the breakdown of a personal injury settlement can help set realistic expectations about the compensation you will receive. At Ryan Orsatti Law, we are committed to guiding you through every step of the process to ensure you receive the compensation you deserve. If you have any questions or need assistance with your personal injury case, contact us today for a free consultation.
By understanding the components of a settlement and the factors that affect how much you ultimately receive, you can approach your personal injury case with confidence and clarity. Let Ryan Orsatti Law be your trusted partner in navigating the complexities of personal injury settlements.
