How Are Personal Injury Settlements Calculated?

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In Ontario, upwards of 90 percent of personal injury claims are settled before needing to be taken to trial. But even if you are willing to settle your case, you must not be willing to compromise for an amount that is well below what you incurred from your bodily injuries and property damages. This is why it is almost always best for a lawyer to step in to make these settlement calculations on your behalf. Continue reading to learn how settlements are typically calculated and how an experienced Ontario personal injury lawyer at Merricks Law Group, P.A. can work to ensure your payout is fair and just.

In what ways are personal injury settlements calculated?

There is no standard amount of payout that is offered for personal injury claims in Ontario. Rather, how your settlement is calculated may be based on the following factors:

  • The type of personal injury accident you were made a victim of (i.e., auto accident, slip and fall accident, workplace accident, dog bite, product liability, medical malpractice, etc).
  • The nature and extent of bodily injuries you had to suffer through (i.e., you incurred a concussion versus a traumatic brain injury).
  • The nature and extent of property damages you had to repair (i.e., your car required repairs versus being completely totaled).
  • The extent to which you required professional medical treatment for your bodily injuries (i.e., current and future hospitalizations, surgeries, rehabilitative services, etc).
  • The extent to which you missed out on current wages (i.e., short-term disability) and future opportunities for employment in your field or a related field (i.e., permanent disability).
  • The extent it takes you to fully recover from your bodily injuries (i.e., from the date of your accident to the date your life returned to normalcy).

In what ways can I maximize the amount I receive from my settlement?

Simply put, the best way to maximize the amount you receive from your settlement is to retain the services of a seasoned Ontario personal injury lawyer. For one, your lawyer may have negotiating skills that you may not, due to their years of experience in handling settlements rather similar to yours. In turn, your lawyer may know when the defense team is lowballing you versus when they have offered a fair payout.

Further, it may help your lawyer understand the extent to which you must be compensated if you share with them every detail regarding your personal injury accident. This may entail supplying them with your medical bills, property repair bills, past pay stubs, and even personal statements from your loved ones, among other pieces of documentation.

Undoubtedly, there is a lot to be considered with settling an injury claim. So please initiate a conversation with a skilled Ontario personal injury lawyer as soon as possible. Someone at Merricks Law Group, P.A. is awaiting your phone call.

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