2 min read
This post has been updated in 2025 with new references and examples.
When you or a loved one has been injured in a car accident, we always recommend seeking and focusing on medical treatment first. But when bills roll in and pain lingers, knowing your potential financial compensation becomes more important.
Settlement Factors in Personal Injury Cases
Despite what you may have heard from friends, co-workers, or advertisements about previous settlements, there is no guaranteed amount that the at-fault driver’s insurance company will pay you. The value of your potential settlement depends on several key factors.
Who is at fault?
In Minnesota, the “no-fault” system provides some monetary coverage, even if you are “at-fault” for an accident. However, if you are not the at-fault party, you can collect additional money damages during the “bodily injury” portion of your case.
We can pursue and demand additional money during settlement discussions when we can establish that:
- The other driver owed you a duty of care
- They breached that duty through their negligent conduct
- The breach caused your injuries, and
- You incurred monetary damages as a result
Commercial Vehicle Accidents: Higher Stakes, Higher Potential Compensation
When your accident involves a commercial vehicle (like a semi truck or bus), the claims process becomes more complex, but potentially more valuable. Commercial truck drivers and companies are required to carry more liability insurance—often more than $1 million, compared to the much lower minimums for standard auto policies.
Commercial vehicles are larger and heavier than typical passenger cars, which often leads to more severe accidents with greater property damage and more serious injuries. As a result, settlements in commercial vehicle accidents typically exceed those in standard passenger vehicle cases.
The financial stakes in truck accident claims are higher, making it crucial to work with an experienced personal injury attorney who specializes in investigating commercial vehicle accidents.
Economic Loss
Another important factor is the amount of economic loss. This refers to out-of-pocket damages you sustained because of the accident and your injuries. The main types of economic loss include:
- Medical expenses: Ambulance transportation, diagnostic imaging, chiropractic treatment, surgeries, or ongoing therapy
- Lost wages: Earnings you didn’t receive because you couldn’t work, due to your injuries
- Property damage: Costs to repair or replace your vehicle and other personal property
In commercial vehicle accidents, economic losses typically run higher than in standard car accidents. For more severe collisions with commercial vehicles, settlements can reach multimillion-dollar amounts.
Intangible Damages
Intangible damages are losses that aren’t always easy to quantify with a specific dollar amount. This category includes:
- Pain and suffering: Physical discomfort and emotional distress endured because of the collision
- Disfigurement: Visible scars, burns, or other permanent physical changes
- Loss of enjoyment of life: Inability to do activities you used to enjoy
- Cognitive conditions: Such as post-traumatic stress disorder
In personal injury lawsuits, general damages (intangible losses like physical and emotional pain) are sometimes calculated using the "multiplier method," which involves taking your financial damages and multiplying them by a factor between 1.5 and 5. The more severe your injury and the greater its impact on your daily life, the higher the multiplier.
Future Losses
You could be eligible for additional compensation if you have physical, cognitive, emotional, or other long-term impairment, such as chronic pain, because of the collision. We may also be able to add future lost wages to your injury claim if your doctor expects that you will have to take a lower-paying job or work fewer hours because of the harm you suffered.
When calculating settlement amounts, attorneys consider both economic damages (quantifiable financial losses) and non-economic damages (intangible losses like pain and suffering. This comprehensive approach ensures you receive fair compensation for both current and future impacts of your injuries.
And because 95-96% of personal injury cases are settled before trial, you need to have skilled legal representation to negotiate effectively on your behalf.
Our experienced personal injury attorneys at Aaron Ferguson Law understand the nuances of both standard and commercial vehicle accident claims. If you have been injured in a car accident or commercial vehicle collision, call our office at 651-493-0426 or complete the form below to schedule a free consultation. Time limits apply to personal injury claims, so don't delay in seeking the compensation you deserve.
