Jamie Cogburn | September 2, 2024 | Personal Injury

Basic Personal Injury Settlement Breakdown: How Much Goes in My Pocket?

The value of each personal injury case in Nevada will vary depending on the severity of injuries, type of accident, comparative fault, insurance policy limits, time missed from work, and more. However, it is helpful to understand how settlements are typically broken down. 

The net amount of your personal injury settlement (the amount you actually take home) will likely vary from the gross amount (the amount you negotiate). It is important to be aware of the deductions that are likely to come out of your settlement check so that you can anticipate how much will go into your pocket. 

Damages

Damages are amounts paid to an injury victim if they win their claim. 

Nevada personal injury law enforces the following types of damages:

In a private settlement, a written settlement agreement, not a court verdict, is what entitles you to damages. If the defendant refuses to pay what they agreed to, you can take them to court.

Comparative Fault

In Nevada, you will lose some of all of your compensation if you were partially at fault for your injuries. If you were 50% or less at fault, a court will deduct that exact percentage from your compensation. If you were more than 50% at fault, a court would disqualify you for any damages at all. Settlement negotiations will proceed according to what the parties believe a court would award.  

Almost all Nevada personal injury lawyers work on a contingency fee basis. If they win, they collect a certain percentage of your total compensation. If they lose, you owe nothing in legal fees. There are ethical guidelines for these fee arrangements. Typically, contingency fees range from 30% to 40%. The contingency fee can depend on many factors, such as whether the case goes to trial. 

Case Expenses

Your lawyer may front some of the costs of pursuing your claim.

Some of these expenses could include:

  • Court fees if you file a lawsuit
  • Medical records
  • Expert witness fees (even if your case never goes to court)
  • Costs for a private investigator
  • Costs for gathering and preparing evidence

Your lawyer may deduct these amounts (and perhaps other expenses) out of your ultimate recovery.

Medical Liens

A medical lien is a lien placed on the amount of your settlement by your healthcare provider. If you still owe your healthcare provider money at the time you receive your settlement, your healthcare provider might file a lien. Alternatively, you can negotiate a lien on your anticipated personal injury settlement proceeds so that your healthcare provider will agree to treat you on credit.

Subrogation

If your health insurance company paid medical bills related to your case, they may have to be reimbursed for those bills if they have subrogation rights.

With an experienced Las Vegas personal injury lawyer, you’re likely to end up ahead of where you would have been if you’d represented yourself, even after you pay legal fees. Typically, a good personal injury lawyer will increase the value of your claim and only require you to pay their fees if you win your case at trial or through settlement negotiations. 

To learn more about how much may go into your pocket in a personal injury settlement, consult a Las Vegas personal injury lawyer today.

For more information, please contact our personal injury attorneys at J. Cogburn Car Accidents and Personal Injury Lawyers to schedule a free consultation today.

We proudly serve Clark County and throughout Nevada:

J. Cogburn Car Accident and Personal Injury Lawyers Las Vegas
2300 W Sahara Ave Suite 800-816, Las Vegas, NV 89102
(702) 996-4786
Open 24 hours

J. Cogburn Car Accident and Personal Injury Lawyers Henderson
2580 St Rose Pkwy Suite 330, Henderson, NV 89074
(702) 541-9766
Open 24 hours