Calculating the potential value of a slip and fall settlement is often a daunting task.
Some people turn to averages published by different sources, while others simply try to calculate them on their own.
Realistically, all cases have their own unique circumstances, which means that an average may not be the best indicator of your case’s value.
How do you know what your claim is worth?
Below we outline a few important factors to consider when trying to estimate your settlement.
Why the Average Slip and Fall Settlement in NJ May Be Inaccurate for Many Cases
There is one primary reason that averages aren’t the best way to estimate your claim’s value.
Simply put, most averages don’t include all case types.
Specifically, they don’t take into account most confidential settlements. This leaves out a considerable portion of slip and fall cases, which means that the resulting average is unlikely to represent most claims.
The Three Statuses of a Property Visitor in Slip and Fall Claims
Perhaps the most significant determining factor of a slip and fall settlement is the status of the victim at the time they sustained their injury.
Essentially, when someone enters a property, they generally fall into one of three categories:
- Invitee—any person who has expressed or implied permission to visit a property for the business purposes of the property owner;
- Licensee—a person allowed on the property for their own purposes; and
- Trespasser—a visitor not permitted to be on the property.
Generally, invitees and licensees have the right to pursue compensation if they sustain an injury due to dangerous conditions not addressed by the property owner.
However, trespassers rarely have any right to compensation if they receive an injury while on someone’s property.
Understanding the Different Damages You May Claim in NJ Slip and Fall Settlements
If you fall into the category of an invitee or licensee, there are several losses you may claim.
Typically, the law divides these losses into either economic or non-economic damages.
Economic damages are the financial losses associated with your injury. This typically includes things like:
- Medical treatment costs
- Lost wages during recovery
- Reduced earning potential
- Property damage
By adding up your injury’s current and future financial costs, you may have a more accurate estimate than the average slip and fall settlement in NJ.
Non-economic damages are the physical and emotional losses related to your slip and fall. In other words, they are intangible and don’t have a standard monetary value.
Some examples of these losses include:
- Pain and suffering
- Mental anguish
- Reduced quality of life
Since these losses don’t have a standard value, every attorney calculates them differently. Some simply multiply the amount of economic damages, while others come up with a separate figure.
However, this is usually on a case-by-case basis.
This is why the average slip and fall settlement in NJ shouldn’t be your go-to estimate for damages.
The Skilled Attorneys of Wiley Lavender Maknoor, P.C. Can Help Estimate Your Claim
Whether you need help finding the value of your claim or gathering evidence, it’s never too early to consult a knowledgeable attorney.
At Wiley Lavender Maknoor, we have extensive experience representing those injured by negligent property owners.
To schedule a free consultation, send us a message or call us at 732-494-6099.