How Much Is a Product Liability Settlement Worth?

A defective product can cause serious injuries and costly property damage. If you’ve been injured by a malfunctioning product, you may be wondering how much compensation you’re entitled to.

So, how much is your product liability settlement worth? Your settlement’s value will depend on a variety of factors, including injury severity, medical expenses, lost wages, and the strength of your case.

A product liability lawsuit can take months or even years to conclude. If you’re struggling to pay your bills while waiting for a settlement, personal injury pre-settlement funding can bridge the gap.

How Much Is My Product Liability Settlement Worth?

Every product liability case is different. The value of your settlement will depend on the severity of your injuries, the strength of your evidence, and the losses you’ve experienced. 

For example, a minor burn from a faulty appliance may lead to a payout of a few thousand dollars, while a life-altering spinal cord injury caused by a defective car part may yield millions.

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What Factors Determine a Product Liability Settlement’s Value?

These factors will dictate the value of your product liability settlement:

• Injury severity: The more serious your injuries, the higher your settlement will likely be. Catastrophic injuries such as brain trauma, amputations, or organ damage tend to result in larger awards.
• Medical expenses: You can recover compensation for current medical bills as well as anticipated future care, surgeries, rehabilitation, or therapy.
• Lost income: If your injury forces you to miss work or reduces your earning capacity, you will likely receive a higher payout.
• Pain and suffering: Non-economic damages such as emotional distress and reduced quality of life play a major role in settlement calculations.
• Strength of evidence: A clear link between the defective product and your injuries will increase the likelihood of a favorable settlement.

Who Pays in a Product Liability Lawsuit?

In most cases, the company that designed, manufactured, or sold the defective product is responsible for paying damages. Other parties who may share liability include:

• A parts supplier
• The distributor or wholesaler
• The retailer who sold the product

These parties typically have liability insurance, which means settlements are paid by their insurers.

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How Hard Is It to Win a Product Liability Case?

Winning a product liability case can be challenging. Manufacturers often employ teams of attorneys to dispute claims, delay proceedings, and pressure victims into accepting low settlements. To be successful, you’ll need strong evidence that the product was defective and that the defect directly caused your injuries.

Pre-settlement funding can help you make ends meet while your lawyer works to settle your lawsuit.

Your pre-settlement funding consultation is free — contact us today!

How Long Does It Take to Settle a Product Liability Lawsuit?

The time it takes to settle a product liability lawsuit varies from case to case. Some claims settle in a matter of months, while others take years, especially if they go to trial.

Factors that will influence the length of your case include:

• How quickly liability is established
• The complexity of the product defect
• The severity of your injuries and whether they require long-term medical evaluation
• The willingness of the defendant’s insurer to negotiate

What Are the Benefits of Pre-Settlement Funding?

Pre-settlement funding can provide financial relief while your case is still pending. Instead of waiting months or years for your settlement, you can access a portion of the funds now. Other benefits of personal injury lawsuit funding include:

• Covering living expenses: You can pay housing expenses and cover other day-to-day costs like utilities and groceries while you wait for your settlement.
• Paying medical bills: Pre-settlement funding can help you afford medical treatment without going into debt.
• Avoiding a quick settlement: You don’t have to accept an unfair settlement offer just because you need money quickly.
• No repayment if you lose: Unlike traditional loans, pre-settlement funding is non-recourse, which means you don’t have to repay it if you don’t win your case.

How Do You Apply for Pre-Settlement Funding?

Applying for pre-settlement funding is a straightforward process. Here’s how it typically works:

1. Submit an application: You provide basic information about your case, as well as your attorney’s contact details.
2. Case evaluation: Pegasus Legal Capital reviews your claim and communicates with your lawyer to assess the likelihood of a settlement.
3. Approval: If your case is strong, you may be approved for funding within 24 to 48 hours.
4. Receive funds: Once approved, your legal funding will be deposited into your bank account.

The pre-settlement funding process doesn’t require a credit check, employment verification, or any upfront fees.

Apply for Pre-Settlement Funding Today

If you’re pursuing a product liability lawsuit, you may be entitled to significant compensation, but waiting for that payout can put you under financial strain. Pre-settlement funding from Pegasus Legal Capital can give you the financial breathing room you need while your case plays out.

You don’t have to deal with the burden of medical bills, lost wages, and daily expenses yourself. With funding available in as little as a few days, you can take control of your finances while your attorney fights for the settlement you deserve.

Call today to submit an application and get the financial support you need.

Your pre-settlement funding consultation is free — contact us today!