Stephen Schultz | August 5, 2024 | Personal Injury
The amount you receive for a personal injury settlement in St. Louis, MO, depends on many factors. Generally, the breakdown of the basic personal injury settlement includes:
Attorney’s Fees
Most St. Louis personal injury lawyers take cases for a contingency fee. They are only paid after they win your case and recover money for your damages. The exact fee depends on the case, but generally, it is about a third of the settlement amount.
Costs of Pursuing a Personal Injury Claim
The attorney usually pays the costs of the case as they are incurred, including pre-suit costs and the costs of filing and trying a personal injury lawsuit. Costs that may be incurred include:
- Filing fees
- Fees to obtain records
- Travel expenses and mileage
- Deposition costs
- Fees for expert witnesses
- Postage and copy fees
Some lawyers will deduct these costs from your settlement, but others may not. Check with the terms of your agreement to be sure.
Medical Liens and Bills
Your personal injury lawyer is required to pay outstanding medical bills and liens from the settlement proceeds. However, an experienced lawyer understands the value of negotiating these amounts.
Your attorney cannot guarantee that the medical providers will accept a lower amount for the bills and liens. Still, they do everything they can to maximize the amount of the settlement that goes into your pocket.
After deducting all costs (if applicable) and attorney’s fees, your attorney pays you the net settlement proceeds.
Factors That Impact How Much You Receive for a Personal Injury Settlement
While there are no guarantees, your personal injury lawyer works to maximize your settlement. They analyze each factor that impacts how much your case is worth. Factors that impact the value of your damages include, but are not limited to:
The Severity of Your Injuries
The type and severity of your injuries and impairments directly impact the value of your damages. Generally, as the severity of your injuries increases, the cost associated with your case increases. For example, it costs more to treat a spinal cord injury than a mild concussion.
Furthermore, severe injuries can increase pain and suffering damages. These non-economic damages can make up a large portion of your personal injury settlement.
The Parties Involved in Your Case
The parties involved in your case can also be a factor in how much your personal injury settlement may be. Depending on the type of personal injury case and the parties involved, some of your damages may be subject to caps. For example, state law caps non-economic damages in claims against government entities and medical malpractice claims.
Your Liability for Causing Your Injuries
Missouri has a pure comparative fault law that applies to personal injury cases. If you are partially to blame for causing your injuries, a judge can reduce the amount of your damages awarded in a personal injury lawsuit. The amount of the reduction is based on the percentage of fault assigned to you by the jury.
Insurance companies use contributory fault to reduce the value of personal injury claims. It could impact the negotiations for a personal injury settlement if you were partially at fault. Experienced personal injury lawyers are prepared to defend these allegations.
The Availability of Insurance Coverage
Liability insurance coverage may cover the damages in a personal injury case, and it can impact what a claim is worth. The insurance company is only responsible for damages up to the policy limits. Missouri’s minimum car insurance coverage for bodily injury is $25,000 per person ($50,000 per accident).
Your Economic Damages
The amount of your economic damages is a factor in how much you receive for a personal injury settlement. Economic damages include medical expenses, lost wages, out-of-pocket expenses, and other financial losses.
The Strength of Your Evidence
Injured parties have the burden of proof in a personal injury case. You must prove the other party owed you a duty of care, breached the duty of care, and caused your injuries and damages. The stronger the evidence in your case, the stronger your negotiating position. The insurance company will not be as willing to negotiate a larger settlement if it believes your evidence would not prove your case in court.
Contact Our Personal Injury Law Firm in St. Louis, MO
If you’ve been injured, please contact the attorneys at Schultz & Myers Personal Injury Lawyers at the nearest location to schedule a free consultation, we proudly serve all throughout Missouri, including St. Louis County and Boone County and we have offices in St. Louis, Ladue, Columbia, Creve Coeur.
Schultz & Myers Personal Injury Lawyers – St. Louis Office
1430 Washington Ave Ste 225
St. Louis, MO 63103
(314) 444-4444
Schultz & Myers Personal Injury Lawyers – Ladue Office
9807 S 40 Dr
St. Louis, MO 63124
Schultz & Myers Personal Injury Lawyers – Columbia Office
28 N 8th St # 502
Columbia, MO 65201
Schultz & Myers Personal Injury Lawyers – Creve Coeur Office
999 Executive Pkwy Dr #205
Creve Coeur, MO 63141
