Traumatic brain injuries (TBIs) are among the most debilitating potential injuries someone can suffer. However, because they are invisible, people don’t always consider them to be as serious as more visible and obvious injuries.
Still, with a broad range of symptoms possible and lifelong medical consequences, a TBI is one of the most noteworthy injuries a person can suffer. In fact, a brain injury can cost thousands of dollars or even millions of dollars over the life of the victim.
It’s important to understand what the potential impact of a TBI may be on your family situation before you make any decisions regarding a settlement offer presented by an insurance company.
What does the average brain injury cost in the United States?
Brain injuries range from mild, nearly asymptomatic conditions to debilitating injuries that leave someone unable to care for themselves or even fully regain consciousness. As such, the average cost of a brain injury has a very wide range as well.
A TBI can cost anywhere from $85,000 to $3 million or more over the life of the victim, with major contributing expenses including medical costs and lost wages. Determining the severity of the injury and how much it will impact someone’s job and ability to care for themselves will give you an idea of where your situation will fall on that spectrum.
Be skeptical of initial offers by insurance companies
Brain injuries can mean that someone is immediately unable to go to work while simultaneously racking up thousands in medical bills immediately after they get hurt. Whether they suffered the injury in a motor vehicle crash caused by another driver or slipped and fell on someone else’s property, the chances are good that there will be an insurance company involved.
That company will want to minimize how much it pays out, which is why you should be skeptical of initial settlement offers. Have a firm concept of the financial impact of the injury before you respond to any settlement offer. Otherwise, you run the risk of undervaluing the impact of the brain injury on your family and being in a position where it is difficult to secure additional compensation.