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How Are Explosion Accident Settlements Paid Out?

Posted on June 18, 2021 in

Anytime a person is injured in an explosion accident caused by the careless or negligent actions of another individual or business, they should be entitled to significant compensation for their losses. The vast majority of explosion accident cases will be resolved through settlement with insurance carriers, but that is not always the case. In some cases, explosion accident claims go all the way to a personal injury trial. At the Doan Law Firm, we want to take a moment to explain how explosion action settlements are paid out to injury victims after the case is complete.

Paying Out Settlements Can Happen a Few Ways

At the Doan Law Firm, we regularly discuss how explosion accident cases are different from other types of personal injury claims, such as vehicle accident cases. However, after your explosion accident case has been resolved, the actual payment of the settlement will be much like other types of personal injury cases.

In general, when a claim is settled, it is truly over with. There will be no way to reopen the claim if a person discovers new injuries or if a more serious condition develops after the settlement. Insurance carriers involved will require that the injury victims sign a release of all claims to ensure that they cannot reopen the issue later on. A settlement draft (check) will be written and will show the total amount agreed upon. Usually, the check will not categorize where the money is supposed to go. Anyone who is owed money out of the settlement proceeds will need to be paid.

Medical Bills and Medical Liens

If there are any unpaid medical balances, these will need to be paid out of the settlement. In many cases, medical professionals will work with injury victims to reduce their bills so that they have a reasonable amount of money leftover. However, there are times when medical professionals render their services at no cost while a person’s case is ongoing, but with the understanding that they will be paid out of any eventual settlement or verdict.

In some cases, states allow medical providers to place a lien against a victim’s final settlement or jury verdict. This will allow the provider the right to collect any unpaid medical bills out of the final amount.

Court Costs and Legal Fees

Most explosion accident attorneys will handle these cases on a contingency fee basis. This means that the injury victim will face no upfront or out-of-pocket costs related to the case, and their attorney will not charge legal fees while the case is ongoing. However, an attorney will do this because they agree to be paid a certain percentage of the final settlement or jury verdict. The contingency fee generally hovers around 33%, but this can fluctuate. Contingency fees are always agreed upon before an attorney begins representing the client.

Victim’s Compensation

After medical bills and legal fees have been paid, anything left will typically be paid to the injury victim. In most cases, the compensation leftover is the money meant for lost wages and non-economic damages, such as pain and suffering and loss of quality of life.

Contact an Explosion Accident Lawyer Today

If you or a loved one have been injured in an explosion accident caused by the negligent actions of someone else, reach out to the team at the Doan Law Firm for help today. Our Houston explosion accident attorneys have a vast network of resources ready to step in and help you recover the compensation you are entitled to. This includes coverage of medical bills, lost income, pain and suffering damages, and more. We will not hesitate to take the case all the way to trial if necessary on your behalf. When you need an explosion accident attorney, you can contact us for a free consultation of your case by clicking here or calling 800-349-0000.