What is the Average Personal Injury Settlement? (2024)
The landscape of personal injury settlements and product liability lawsuits has seen a drastic shift over the years. This article explores nearly 20 years of data to understand the trends and provide insights into the average personal injury settlement amounts, particularly focusing on car accidents, slip and fall incidents (premises liability), medical malpractice, business-related liabilities, and product liability cases.
In 2007, the median settlement in vehicular cases was a modest $17, and the median in product liabilitycases was $1,962. By 2010, these figures had increased substantially, with the median for car accident cases at $19,806 and the median for defective product liability at $2,045,924, indicating a growing awareness and assertiveness in seeking higher compensations.
The year 2011 marked a significant rise in settlement amounts, with the median for vehicular cases at $31,261 and $2,531,882.25 for product liability. This increase can be partly attributed to some landmark legal settlements:
This upward trend continued through 2015, with the median settlement for vehicular cases reaching $39,360 and product liability at $2,500,000.
2016-2023*: High-Profile Settlements in Medical Malpractice and Product Liability
During this period, settlements saw substantial increases, especially in medical malpractice and product liability. In 2016, median settlement amount in product liability cases rose to $3,762,500, likely influenced by high-profile lawsuits such as:
Projected figures from 2021 onwards suggest the trend of high settlements continues, with medical malpractice settlements averaging approximately $1,351,095.
Trends in Premises Liability and Workplace Injuries Based
Median settlements for premises liability (slip and fall accidents) have climbed substantially, from $117 in 2007 to a projected $214,667 in 2023. Workplace injuries followed a similar trajectory, with median settlements rising from $1,962 to $352,798. These figures reflect an evolving legal landscape that increasingly acknowledges the long-term impacts of injuries.
The data analysis reveals that average personal injury settlements have been on an uptrend—reaching an overall average of approximately $113,391 from 2016 to 2023. Yet, this doesn't fully capture the diversity within personal injury law, which ranges from minor accidents to severe cases. High-profile lawsuits, while influential, don't reflect the majority of settlements that often resolve at lower amounts. This pattern underscores a broader recognition of injury impacts and the essential role of safety and accountability.
Disclaimer: The information provided in this article is for educational and informational purposes only and does not constitute legal advice. The settlement figures and trends discussed herein have been compiled from various sources, with data up to the year 2020 provided by the Insurance Information Institute. The settlement amounts for the years following 2020 have been estimated using linear regression analysis based on historical data trends and should be interpreted as indicative projections, not precise predictions.
At the intersection of public safety, and consumer rights. Consumer Shield Research Team is deeply focused in dissecting the U.S. market, focusing on how information dissemination influences consumer safety and decision-making.
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