What Is the Average Slip and Fall Settlement?
While there is no real average for slip and fall settlements, you can get an idea as to how much your case’s value would be by calculating your losses.
First, you need to add up all of your financial losses. Things like medical bills, lost wages, and the cost of physical therapy could be included. Then you need to add up your non-financial losses. You can assign a value to these losses to determine what your settlement amount should be.
Calculating a claim’s value is not always easy, with more complex cases being more difficult to calculate. You have the option to hire a lawyer to help you calculate your losses and pursue fair compensation, though. Read on to learn more about how to determine fair value for your case.
Determine Your Damages with an Attorney’s Help
NRS Chapter 42 gives victims of negligence the right to seek compensation for their losses after a slip and fall accident.
The first step to calculating your settlement amount is to make a list of all of the damages you have suffered due to your slip and fall accident. There are no damages too small to be included, so think carefully about all the ways you have been impacted by your accident.
For example, you may think it is unnecessary to include the cost of transportation to and from medical appointments, but these costs add up quickly. You can include transportation expenses in your slip and fall claim because you would never have had to pay these expenses if not for your accident.
Financial damages that could be included in a slip and fall claim:
- Medical costs
- Transportation costs
- Cost of mental health treatment
- Cost of physical therapy
- Lost income
- Loss of future income
Non-financial damages that could be included in a slip and fall claim are:
- Pain and suffering
- Mental trauma
- Lost life enjoyment
- Permanent injury
To be made whole, you should be compensated for every single loss brought on by your accident and injuries. That is one of the main goals of the personal injury claims process.
Assigning a Value to Your Damages
Adding up monetary losses includes coming up with a figure for each monetary loss and adding them all together.
For instance, if you have paid $10,000 in medical bills, you will include all of those bills in your claim. If you calculated $500 in transportation expenses, add those to your claim. You can also include lost income and the loss of future income you could reasonably have expected to earn if not for your injury. Loss of future income is especially relevant for those who suffer a severe or permanent injury.
Their injury could cause them to be unable to work or unable to earn the same amount of money they earned previously. You can and should be compensated for all of your financial losses.
Assigning a value to non-financial losses is a little more difficult. Non-economic losses are highly subjective and are valued differently by different people. It is not easy to put a price tag on a person’s pain and suffering, but it must be done.
Settlement vs. Financial Award
It is easy to get confused when talking about compensation for a slip and fall accident through a claim or lawsuit. A settlement is financial compensation through a settlement agreement between the liable party and the injured party.
A financial award is compensation awarded through the court process. If you file a lawsuit in court and your case goes to trial, you could receive an award from the court to pay for your accident losses.
One tricky part of winning compensation for an accident is dealing with insurance negotiations. You may have an idea as to what fair value for your claim is but an insurance company may have a different idea.
For instance, you may believe your scarring is worth a certain amount of compensation because it affects your self-esteem, mobility, health, and life happiness. MedlinePlus lists the medical complications that can follow injuries incurred in a fall.
Get in Touch with the Attorneys at High Stakes Injury Law Today
There really is no average slip and fall settlement amount, but there are some factors that play a role in your settlement amount. For help calculating your slip and fall accident settlement, reach out to High Stakes Injury Law today. Jack Bernstein and Scott Poisson’s 60+ years of combined experience could mean fair compensation and justice for your accident, so get your free case evaluation today.