According to a Jury Verdict Research Study, the median compensation for personal injury compensation in Minnesota is $30,000. While this might sound like a good payout, most awarded victims deserved more compensation due to the severity of their injuries and losses.
It’s, therefore, advisable to talk to a Minneapolis personal injury lawyer and build a strong case before filing a personal injury claim.
This article looks at Minnesota personal injury laws and how you can receive the maximum settlement for your personal injury claim.
What Affects The Amount Of Settlement You Receive?
The amount of settlement you receive from your insurer after an accident can be determined by several factors. Below are some of the most significant factors that can increase or decrease your settlement.
Who Is Liable For The Accident
Since Minnesota applies modified comparative negligence, you can still file a personal injury claim if you were partially to blame for the accident.
If you share less than 50% blame for the accident that resulted in your injuries, you’ll still receive compensation, but it will be reduced by the sum or percentage of fault assigned to you.
It’s also important to note that in the case of car accidents, Minnesota is a no-fault state, which means that regardless of who is responsible for the crash, each driver uses their insurance to pay for their damages. That said, if your insurance coverage is not enough to pay for your damages, you may be able to receive compensation from the at-fault driver’s insurance.
Minnesota, being a no-fault state, requires that your insurer pays for your damages after an accident, regardless of who was responsible.
If you’ve purchased a premium insurance package, you might be able to pay for all your damages. However, if you use a basic package, it might limit the amount of settlement you receive. This might force you to file a claim with the at-fault party for additional compensation from their insurance company.
Pain And Suffering
In most states, you can sue for the pain and suffering you endured during the healing process after an accident. While you can still do that in Minnesota, there are a few limitations.
Since Minnesota is a no-fault state, your insurer is supposed to compensate you for your damages. However, since they might not cover non-economic losses like emotional distress, pain, and suffering, you must file a claim with the at-fault party’s insurer.
Even then, you’re only eligible to apply for pain and suffering compensation if:
- One of your body parts was dismembered or disfigured, or you were disabled for over 60 days.
- Your injuries led to a medical bill of more than $4000.
Medical Procedures And Time It Took To Recover
One of the primary things you file in an accident claim is the cost of your treatment. If you had to undergo complicated surgeries and other medical procedures, your compensation would be higher than if you only had to get a few stitches.
Similarly, if it took you more than a year to recover from your injuries, you’ll have lost more potential earnings than if you were back to work in a week. You’re also likely to have gone through more pain and suffering in that time, which will increase your compensation.
How To Maximize Your Settlement
To maximize your personal injury settlement in Minnesota, you need to work with a seasoned attorney to help you list everything you need to recover with your compensation. Since you can include so many things in your personal injury claims, an experienced lawyer can help you identify them and negotiate with your insurance company on your behalf.
If your and the defendant’s insurance companies don’t offer satisfactory settlements, your lawyer can help you take the case to trial and receive the compensation you deserve.
Are Personal Injury Claims Taxed In Minnesota?
Once your compensation from a successful personal injury claim, you might be inclined to think that this money is not taxable. While this is mostly true, there are a few exemptions.
In most cases, you’ll not be required to pay taxes for your personal injury claim to the state of Minnesota or the federal government. This is because, according to the IRS, any money you receive as compensation for a specific injury or illness is not taxable.
However, you must pay taxes if you receive a payment for non-economic losses like emotional distress. You’ll also be required to pay taxes for any amount you receive as lost wages.
The thinking is that you’d have paid taxes for the income you received for the recovered period. Fortunately, your lawyer can help you structure your claim so that you don’t have too much money as lost wages and reduce your tax burden.
If you’ve been injured in an accident in Minneapolis, you should file a personal injury claim to recover your damages. However, it’s important to work with an experienced lawyer to help you understand the complex personal injury laws in Minnesota and receive the maximum settlement.