How Are Personal Injury Settlements Paid Out?

Filing a personal injury claim against the party responsible for your damages after an accident can help you get financial compensation. But who pays for your compensation, and how is the amount determined?

Read on to learn more about how personal injury settlements are paid out.

Paying Out a Personal Injury Settlement

By settling your personal injury claim, you know your compensation for the injuries you suffered is finally on the way. But who pays for the settlement, and how much will you get paid?

When you settle a personal injury dispute outside of the court system, this generally involves coming to an agreement with the at-fault party’s insurance company.

Because the insurance company assumes liability for the responsible party’s actions, it will be on the hook for paying your personal injury compensation.

Often, getting to this point can be difficult without the help of an attorney. The insurance company will often try to pay you the least amount of money possible for your damages—meaning the input of an experienced attorney to help you negotiate can be crucial.

But once a settlement agreement is struck, you won’t receive all of the money. First, it will go toward paying off any outstanding medical bills related to your injury. Finally, your lawyer will take their cut before you receive the rest of the settlement.

Because legal fees can vary dramatically, it’s important to take the time to research and work with an attorney who is transparent about their fee structure and has a good reputation.

Types of Damages You Can Receive

The settlement money you receive after a personal injury dispute can reflect both economic and non-economic damages. Some examples of these include:

• Medical bills
• Lost income
• Emotional trauma
• Pain and suffering

Contact a Personal Injury Lawyer

Getting compensated for the injuries you’ve sustained in your accident is rarely a straightforward process. Fortunately, working with a personal injury lawyer from Conway, Pauley & Johnson P.C. can help you maximize the value of your personal injury settlement. Let us deal with the insurance company so you can focus on your recovery.

Give us a call at 402-462-5187 or fill out our online form instead to get started.