How Are Personal Injury Settlements Calculated in South Carolina?

If you or someone you know has been injured due to the negligence of someone else, you undoubtedly want to receive compensation for your pain and suffering, and of course, any expenses accrued due to the accident. Please continue reading and reach out to a seasoned Darlington, South Carolina personal injury lawyer to learn more about how personal injury settlements are typically calculated.

How Are Personal Injury Settlements Calculated?

When calculating a personal injury settlement, many factors are taken into account, including both economic and non-economic damages.

Economic damages are any losses that manifest financially. This entails anything that costs money, such as expenses to repair property damage, medical costs, loss of wages, etc.
Non-economic damages are trickier since they are not tangible and are open to interpretation. This includes pain and suffering, mental and emotional turmoil, and any damages that don’t necessarily come with a physical receipt.

Lawyers estimate the damages owed in a personal injury case by considering special damages and the multiplier. Examples of damages that affect the settlement include but are not limited to the following.

• Injuries sustained
  • The severity of the injuries will greatly affect the settlement. The worse the injury the more money can be requested
• Costs and length of time of treatments
  • Costs of medical treatment including hospital bills, rehabilitation, physical therapy, surgeries, medication, etc. all will have an impact on the outcome. The more expensive the medical bills the higher the settlement should be.
• Lost wages
  • If it is relevant, the settlement will surely include a number to counteract the victim’s inability to work due to the effects of the injury
• Psychological effects
  • Emotional damage from sustaining an accident can last anywhere from months to years and can affect a victim’s everyday life.
• Liability
  • Whether or not it is certain or debatable that the defendant is responsible for the injury will affect the outcome of the settlement.
• Litigation costs and time
  • The length of time litigation takes to reach a verdict can have a major impact on the settlement. The longer and more drawn out the litigation is, the more expensive the settlement becomes so that the compensation will cover costs.

After calculating all relevant special damages, including the ones above, the settlement cost will be calculated using a multiplier. A standard multiplier in a personal injury case will be approximately 1.5 to 5 times the amount of damages. For example, if your special damages add up to $1,000, then using a standard multiplier your settlement should be anywhere between $1,500 and $5,000. Of course, the settlement may be less or more depending on the individual circumstances of the case.

How Can a Lawyer Help With My Personal Injury Settlement?

Hiring a professional attorney will prove to be invaluable during a personal injury case. Using their professional experience, they will be able to advocate for your rights and they will be instrumental in negotiating the details of your settlement offer. You can also rely on them to keep track of filing due dates, how the settlement will be paid and when, and other important details that can be easily overlooked.