How Product Liability Accident Settlements Are Calculated in Missouri

If a malfunctioning or defective product causes injury to a person in Missouri, the victim has the right to seek compensation from the at-fault parties to help cover their medical expenses, lost income, and other damages.

These are known as product liability cases and are a common type of personal injury lawsuit. With the right legal counsel on his/her side, the injured person can sue whoever is liable and walk away with a significant settlement compensation.

However, a lot hinges on having an experienced attorney representing the injured party. In St. Louis, those looking for a top-rated Missouri personal injury lawyer usually turn to Powell Law Firm. Victims can call right now to schedule a free case evaluation.

What Is a Product Liability Personal Injury Claim?

The legal theory behind product liability cases is that certain parties involved in the distribution, retail, or manufacturing process of a defective product are liable for any injuries caused when consumers use the product in the recommended manner.

Product liability claims help reduce the rate of manufacturing defective products by making sure all parties work to create safe products for consumers. Depending on the nature of the lawsuit, a personal injury lawsuit involving product liability can result in a huge financial compensation settlement value. our team can explain how pedestrian accident settlements are calculated in Missouri.

Who Is the At-fault Party?

In a Missouri personal injury case based on product liability, many parties can be held liable for the damages caused to the victim. These include:

• Distributors and retailers of the defective items

• Manufacturers responsible for the design, production, and safety of their products

• Importers whose responsibility it is to ensure products from outside the country comply with safety standards

• The liable party's insurance company

As with any other personal injury cases, such as those for a car crash or slip and fall accident, the first duty of an experienced attorney is to identify which of these potential defendants will be held liable for damages.

Choosing the right person to sue can make or break most personal injury cases, so it is important to fully understand how the injury occurred and what Missouri law says in such circumstances.

How Product Liability Cases Are Calculated - Seven Important Factors

While being injured as a result of someone else's negligence entitles the victim to seek compensation from the at-fault parties, several factors need to be considered when calculating how much they will be awarded for any damages suffered.

Usually, settlement negotiations between the two parties and their legal counsel are enough to reach a fair settlement amount, but sometimes, a case goes to trial when an agreement cannot be reached. For more information, a personal injury attorney in St Louis MO may be able to help.

Here are some of the factors that determine how much personal injury claims involving product liability are worth:

Severity of Injuries Sustained

The more severe the injuries suffered by the victim, the greater the value of their personal injury claim. Here, the calculation of damages needs to consider not only how bad the victim's injuries are, but also any future medical expenses they may have to shoulder.

Lost Wages and Medical Expenses

Next, the total value of the economic damages needs to be calculated. In this case, the bulk of the economic damages usually cover medical bills and lost wages caused by the victim's injuries.

Depending on the circumstances of the case, a personal injury lawyer may also suggest the inclusion of other related economic damages, future lost income, and rehabilitation costs.

Non-economic Damages

Calculating pain and suffering damages is a bit more complicated than the above-mentioned economic damages.

Usually, the value of these non-economic damages is determined by the judge based on medical records, witness statements, the victim's testimony regarding their injuries, and the ability of the personal injury lawyer to argue the case.

If the injuries prove to be fatal, the victim's family members can also file a wrongful death claim. Other non-economic damages include loss of enjoyment of life, emotional distress, mental anguish, and living with a permanent disability.

Degree of Negligence

It is also important to consider the degree of negligence of the defendant. If the liable party is found to have been grossly negligent in allowing the injuries to occur or to have intended for the victims to be hurt, this can result in much higher settlement amounts. These are usually referred to as punitive damages.

Comparative Fault

As a pure comparative negligence state, Missouri law recognizes the impact of the victim's actions in causing the injury to occur.

This means, in such cases, they are allowed to pursue compensation for their injuries but will only receive a portion of the settlement depending on the part they played in the injury.

Insurance Coverage

The limitations of the defendant's insurance coverage can act as a cap on the amount of damages the victim can receive in a product liability case.

Experience of the Legal Team

When going against a big insurance company in a product liability case, it is important for the victim to have a good lawyer on their side.

If an out-of-court settlement cannot be reached through negotiations between the parties involved, such personal injury lawsuits often evolve into a dogfight that can last anywhere between a few weeks or several years.

In such cases, the final settlement amounts that will be reached greatly depend on having an experienced attorney who can demonstrate the full impact of all economic and non-economic damages suffered by the victim. They can also advise on how slip and fall settlements are calculated in Missouri.

Steps to Take When Filing a Product Liability Claim

How much the victim will walk away with often depends on the steps they take from the day the injuries occur. To give themselves the best chance of success, victims need to take the following steps:

• Seek medical attention.

• Gather evidence, such as photos of the injuries and defective products.

• Obtain a medical report detailing the extent of the injuries suffered.

• Avoid negotiating with the at-fault party's legal team or insurance claims adjuster without their lawyer present.

• Refuse any initial low-ball offers made by the opposing party.

• Seek legal advice and representation from an experienced personal injury attorney.

Looking for a Good Law Firm? Call Powell Law Firm for a Free Consultation

Powell Law Firm has been fighting for the rights of personal injury victims in Missouri for many years. Anyone seeking the help of a compassionate, experienced, and determined attorney can visit the firm's law offices in St. Louis right now and sit down for a free consultation.