Average Settlement For Asbestos Claim: What To Expect
what is the average settlement for asbestos claim
If you or a loved one has been diagnosed with an asbestos-related disease, you may wonder what the average settlement for an asbestos claim is. While settlements vary widely based on individual circumstances, they can range from tens of thousands to millions of dollars. Factors influencing the amount include the severity of the illness, the extent of exposure, and the defendants involved.
Factors Affecting Asbestos Settlement Amounts
Several key factors determine the value of an asbestos settlement. The type and stage of the disease play a significant role; mesothelioma claims typically result in higher settlements due to the disease's aggressiveness and clear link to asbestos. Lung cancer and asbestosis claims may also yield substantial compensation but often vary based on medical evidence and exposure history.
The number of defendants named in the lawsuit can impact the settlement amount. Many asbestos claims involve multiple companies, such as manufacturers, suppliers, and employers. Each defendant may contribute to a settlement, increasing the total compensation. Additionally, the jurisdiction where the case is filed can influence the outcome, as some courts are known for awarding higher damages.
Understanding Settlement Ranges
While there is no fixed average settlement, many asbestos claims settle between $1 million and $1.4 million for mesothelioma cases. Lung cancer claims may range from $100,000 to $700,000, depending on factors like smoking history and proof of asbestos exposure. Asbestosis settlements are generally lower, often ranging from $50,000 to $200,000.
It is important to note that these figures are estimates, and individual cases can deviate significantly. Some settlements exceed $2 million for severe mesothelioma cases with strong evidence of negligence. Conversely, claims with limited evidence or shorter exposure histories may result in lower amounts.
To maximize your settlement, work with an experienced asbestos attorney who can build a strong case and negotiate on your behalf. Most cases are settled out of court, but being prepared for trial can lead to better offers. If you are considering filing a claim, consult a legal professional to discuss your specific situation and potential compensation.