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To get a general idea of settlement, add up the costs in medical bills, damages, and lost wages, and multiply the sum by three. This may be around the amount in the settlement you can receive after a car accident. Compensation for pain and suffering is only given to those who are injured in a car accident.
The amount of compensation in a personal injury claim is determined by considering several factors including the severity of the injury, the impact on your life and work, medical expenses incurred, future care needs, and loss of earnings.
A Jury Verdict Research study found that the median award in Minnesota in personal injury cases is an even $30,000. Minnesota personal injury plaintiffs receive an award in 67 percent of cases that go to trial.
The result of a settlement agreement involves the responsible party paying a certain amount to compensate for the damages caused to the victim.
Average Settlement Figure While exact figures can be challenging to pinpoint due to the factors listed above, research from top sources indicates that minor to moderate injury cases in Minnesota often settle for amounts ranging from $10,000 to $75,000.
There are no strict rules for determining a dollar amount for pain and suffering damages. In some cases, pain and suffering are calculated by taking the total amount of economic damages (medical expenses, lost wages, etc.) and multiplying that number by three.
Minnesota's Tort Threshold: $4,000 in reasonable medical expenses: In order to recover non-economic damages, you must have reasonable medical expenses that exceed $4,000 excluding some diagnostic procedures.