What You Need to Know About Average Slip and Fall Settlement Amounts

Average Slip and Fall Settlement Amounts

About 1 million slips and falls result in a hospital visit. Some turn into major injuries that cause you to miss work, have doctors’ visits and suffer untold damages.

You have every right to pursue a personal injury settlement to recover the costs of the injury. You might wonder if it’s worth the trouble or not.

The average slip and fall settlement should influence your decision to pursue your case and protect your rights. What’s the average amount for a slip and fall?

Keep reading to find out and learn how you can get the maximum amount for your injuries.

Average Slip and Fall Settlement Amount

There isn’t an easy way to determine the average slip and fall settlement amount. That’s because every case is very different and there are so many factors that determine a settlement amount.

Your personal injury attorney will give you a ballpark figure as to how much you should expect to get. Some settlements are for $10,000, while others are $500,000 or more.

Let’s take a look at what makes up a settlement amount.

Your location is one factor. Each state has different tort laws that determine personal injury case outcomes. For instance, every state has a statute of limitations.

That’s the amount of time you have from the accident to file a case. That’s usually two years. File a case beyond that point, and you’ll have a hard time recovering a settlement.

Another factor is your attorney. The best personal injury attorney has great negotiation skills. They’ll get a larger settlement than an attorney who accepts the first offer from the insurance company.

Your medical bills, future medical bills, lost income, and future lost income get calculated as part of the settlement amount.

The amount of pain and suffering get calculated, too. Pain and suffering refer to issues that impact your life. Mental trauma, physical trauma, and a reduction in the quality of life are part of pain and suffering.

It’s hard to put a dollar amount to pain and suffering. This is often the difference between a small and large settlement.

The other piece of the puzzle is negligence. The attorneys (or the court) have to determine if there was negligence on the part of the property owner or lessee that caused the slip and fall.

Settlement Payout Options

If you’re lucky enough to get a large settlement, you’ll have two payout options. The first is a lump sum. This is when you get the entire settlement in a single payment.

An insurance company might offer a structured settlement. This is when you get an initial lump sum payment for a portion of the settlement amount.

The rest of the settlement gets disbursed in annual payments for several years.

Here’s an example of how that works. You get a settlement for $500,000. The insurance company offers to pay $75,000 and structures the remaining payments over 10 years.

You’ll get the first payment of $75,000, which leaves a balance of $425,000. The insurance company pays you $42,500 a year for the next 10 years.

Structured settlements aren’t always a good option. You might have a lot of outstanding medical debt.

It’s best to work with your personal injury lawyer to come up with the best settlement solution.

Finding the Best Personal Injury Attorney

The success of your slip and fall case comes down to your attorney. Make sure that you know what to look for in a personal injury lawyer before you start searching for one.

Get recommendations from friends and colleagues. They might know of a reputable attorney who can assist you. If you already have some names, look them up online.

You’ll want to check out the online reviews from other clients. You can learn about things like an attorney’s responsiveness and results.

Take a look at the personal injury attorneys’ websites. Make sure that they handle slips and falls. The next step is to contact a few attorneys and interview them.

They’ll want to know some details about your case. Gather all of the documentation related to the incident and the injuries. Medical bills, medical reports, first responder reports, bank statements, and proof of income statements help attorneys figure out your case.

What to Ask Personal Injury Lawyers

The initial consultation shouldn’t be intimidating. It’s a chance for you to find the right attorney for your needs. Show up prepared with a list of questions to ask.

Start by asking them about their experience with personal injury cases. You want to know why they chose to practice this area of law above all others.

Ask them if they’ve handled cases similar to yours. Ask a follow-up question about the settlement amounts they got for other clients.

Their answer doesn’t guarantee that’s what your settlement amount will be. It does mean that they get results for their clients, and can get a settlement for you.  

Ask them about how they get paid. Personal injury lawyers get paid a percentage of the settlement amount. If they don’t get a settlement, they don’t get paid.

Know what the percentage is and if there are outstanding charges you would pay if they don’t win your case.

Get More Than the Average Slip and Fall Settlement Amount

A slip and fall is a scary thing. You could end up in the hospital with broken bones or a head injury and suffer chronic pain and miss work.

You do have some recourse and can hold those people responsible accountable and file a personal injury claim.

How much is the average slip and fall settlement amount for slips and falls? It depends on your attorney, medical bills, negligence, and other damages. Be sure to hire the best personal injury attorney you can.

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