What Are Asbestos Lawsuit Settlements?
In an asbestos lawsuit settlement, a manufacturer of asbestos-containing products agrees to pay a sum of money to resolve — or settle — an asbestos exposure lawsuit.
The plaintiffs in these lawsuits generally allege that one or more asbestos products caused them to develop an asbestos-related disease like mesothelioma or lung cancer. Many asbestos companies knew about the dangers of asbestos for decades but hid this information from the public.
Asbestos settlement amounts are negotiated by your lawyer and the lawyer representing the asbestos company.
Asbestos attorneys usually prefer settlements over taking a case to court because they are less risky and provide clients with quicker access to compensation.
When an asbestos lawsuit is settled out of court, clients may be able to access settlement money in as few as 90 days.
Our legal partners have recovered over $9.4 billion for asbestos victims and their families. Get a free case review right now to see if they may be able to help you take legal action and pursue an asbestos settlement.
Asbestos Settlement Amounts
Asbestos settlement amounts vary depending on the type of asbestos-related disease the victim developed, their age, and other factors.
That said, we’ve compiled some data on asbestos and mesothelioma lawsuit settlement amounts below.
Average Settlement for Asbestos Exposure
Asbestos settlements are between $1 million to $1.4 million on average.
These numbers include the total amount that all manufacturers named in the lawsuit have agreed to pay. Most asbestos lawsuits name multiple manufacturers as defendants.
In many cases, families who get legal help from top asbestos law firms, like those in the LawFirm.com network, receive asbestos lawsuit settlements well above the average.
Some notable asbestos settlements secured by our legal partners include:
- $12 million to a laborer in Illinois with mesothelioma cancer
- $8 million for a plumber and pipefitter from Texas
- $7 million to a wire installer in California
- $6.8 million for a Florida mechanic following a mesothelioma diagnosis
- $4.3 million to a U.S. Army veteran and boilermaker in Florida
- $4.14 million for a welder and U.S. Air Force veteran
- $3.9 million on behalf of an auto mechanic and insulation worker from Virginia
- $3.45 million in mesothelioma compensation to a Pennsylvania teacher
- $3.2 million on behalf of a U.S. Navy veteran and plumber from Wisconsin
- $2.8 million for the family of a heavy equipment operator in Illinois
- Almost $2.5 million in mesothelioma settlements to a U.S. Navy veteran in New York
- $2.53 million for a wrongful death claim brought by the family of a Michigan maintenance worker
Find out if you may be eligible for settlement compensation right now or call (888) 726-9160 to speak with a member of our team.
Asbestos Settlements 2023 Update
Mealey’s® Litigation Report: Asbestos reported these recent asbestos lawsuit settlements:
- $1.2 million to an auto dealership employee who developed mesothelioma
- $2.3 million to a couple in a secondhand asbestos exposure case
- $2.3 million to the family of a mesothelioma victim who passed away after being exposed to asbestos in oil refineries
An experienced asbestos lawyer can give you a potential settlement range for your specific case.
Why Pursue an Asbestos Settlement?
One way that families affected by the diagnosis of an asbestos-related disease like mesothelioma can take back control of their lives is by seeking asbestos lawsuit settlements.
Compensation awarded in asbestos settlements can help pay for:
- Cutting-edge medical treatments
- Everyday living expenses
- Lost wages
- Travel to and from a cancer center
- Other costs
Mesothelioma treatment can cost more than $500,000, not including travel-related expenses.
Additionally, asbestos lawsuit settlements send a message to manufacturers that placed profits above the health and safety of American workers and military service members.
The companies responsible for your asbestos exposure should be the ones footing the bill for your medical expenses — not you and your family.
How Are Asbestos Settlements Calculated?
Many different factors affect the amount of compensation awarded in asbestos lawsuit settlements.
- Age of the victim: Younger patients generally tend to win larger settlements.
- Medical expenses and lost wages: Asbestos lawsuit settlements usually take into consideration the victim’s medical expenses and lost wages.
- Number of companies sued: Most asbestos lawsuits name multiple defendants, and each may contribute to the total settlement amount.
- Strength of case: Strong evidence linking asbestos exposure to a manufacturer’s product is more likely to result in a larger settlement.
- Where the suit is filed: Every state has its own laws that impact asbestos lawsuits. An experienced asbestos attorney will ensure that your case is filed in the court system most likely to get you the best results.
In a wrongful death lawsuit, other factors may play a role, like the person’s health at the time of death, the extent of their suffering, and whether they financially supported a spouse or children.
An asbestos law firm can evaluate all aspects of your case and devise a strategy to maximize any settlements you may receive.
Get a free case review right now to learn about your legal options. We can connect you with a top asbestos law firm if you qualify.
How Long Does It Take to Settle an Asbestos Case?
While the time frame to settle an asbestos case may vary, many families start receiving compensation from asbestos lawsuit settlements in as few as 90 days.
One of the main reasons that asbestos attorneys and their clients usually prefer asbestos settlements over taking a case to court is that families often get paid much faster.
Experienced asbestos lawyers know many families depend on settlement compensation to pay for medical treatments and make up for lost wages. As a result, they strive to get their clients the most amount of money as quickly as possible.
Families who hope to obtain quick asbestos payouts should partner with a law firm experienced in handling asbestos and mesothelioma claims.
LawFirm.com can connect you with top asbestos law firms that will work to get you settlement compensation as quickly as possible if you qualify. Get a free case review right now to get started.
How Do Asbestos Exposure Lawsuit Settlements Work?
While every case is unique, most asbestos lawsuits go through the same legal process to reach a settlement.
Here are the general steps an asbestos attorney takes to secure asbestos settlements:
- Provides a free case review: Asbestos lawyers use this process to verify that they can help you with a potential lawsuit. A case manager will ask questions about your work history and disease. Get a free case review right now by filling out our online form.
- Collects evidence: Your legal team will build your case by gathering evidence of your asbestos exposure. This may include your medical records, work history, and a list of the asbestos products you were exposed to. Even if you’re unsure about the products that made you sick, asbestos law firms have resources to help identify them.
- Files the lawsuit: Your lawyer will file your asbestos lawsuit before any legal deadlines called statutes of limitations. In some states, this deadline is as short as 1 year.
- Negotiates a settlement: They will fight to get you maximum compensation through an asbestos settlement. Often, asbestos victims get compensation from a settlement within 90 days of contacting an asbestos lawyer.
While most asbestos lawsuits are settled, your team will be ready to argue your case in court, if necessary.
Asbestos Lawsuit Payouts: Settlements vs Verdicts
When an asbestos manufacturer refuses to settle a legal claim for a fair amount, it may be in the asbestos victim’s best interest to have their case heard in court and decided by a judge or jury.
However, asbestos verdicts are risky, as they can take years to make their way to a courtroom, and victims may not get any compensation at all if the judge or jury doesn’t rule in their favor.
The main differences between asbestos lawsuit settlements and jury verdicts are listed below.
| Asbestos lawsuit settlements | Asbestos trial verdicts |
|---|---|
| Average award between $1 million and $1.4 million | Average award between $5 million and $11.4 million |
| A speedier resolution to a lawsuit, providing asbestos victims with quicker access to compensation | More time-consuming since it can take years for a case to be heard in court |
| Less risk, as the parties agree ahead of time to a certain amount of compensation | More risk, as nothing is guaranteed and an asbestos victim can lose a case and get nothing |
| Less stress, as victims don’t have to go to court to get compensation | More stress, as victims and their family members may need to appear in court to give testimony |
| Not subject to appeal, meaning that any compensation awarded can’t be taken back | Subject to appeal, placing a favorable verdict in jeopardy and drawing out the length of the case |
Other Ways to Get Asbestos Claim Payouts
An experienced asbestos lawyer may be able to help victims pursue compensation from other sources in addition to asbestos lawsuit settlements.
These sources include:
- Asbestos trust funds: Bankrupt asbestos companies were court-ordered to set aside money to compensate current and future asbestos victims. Today, these funds contain over $30 billion and award claimants an average of $300,000 to $400,000 in total.
- VA benefits: Because of the military’s widespread use of asbestos products, about one-third of all mesothelioma patients are military veterans. The U.S. Department of Veterans Affairs (VA) offers VA benefits to veterans with mesothelioma (nearly $4,000 per month in disability compensation as of 2024).
Eligible asbestos victims may be able to pursue compensation from asbestos lawsuit settlements, asbestos trust fund claims, and VA benefits at the same time.
Get Help Pursuing an Asbestos Lawsuit Settlement
Asbestos lawsuit settlements allow victims to get compensation for medical treatments and other expenses without the stress or hassle of going to court. Experienced asbestos attorneys can handle all aspects of a settlement, so patients can focus on their health and spend time with their loved ones.
LawFirm.com can connect eligible asbestos victims with top asbestos attorneys around the country.
The asbestos lawyers in our network have recovered over $9.4 billion in asbestos lawsuit settlements and other payouts for victims and their families.
They can pursue asbestos lawsuit settlements on behalf of victims in all 50 states and never charge any upfront or hourly fees.
Get a free case review right now at (888) 726-9160 to see if they can help you get the justice and compensation you deserve.
Asbestos Lawsuits Settlements FAQs
What are asbestos cancer settlements?
Asbestos cancer settlements are compensation for those who developed diseases like mesothelioma and lung cancer from asbestos-based products.
After filing a lawsuit, asbestos companies may opt to settle a case instead of going to trial. Asbestos settlement payouts average $1 million to $1.4 million.
Can you get compensation for asbestos?
Yes, you may be able to get compensation for asbestos exposure if you’ve been diagnosed with an asbestos-related disease like mesothelioma or asbestosis.
Asbestos victims may be entitled to compensation from:
- Asbestos lawsuit settlements or verdicts
- Asbestos trust fund claims
- Benefits offered by the U.S. Department of Veterans Affairs (VA)
An asbestos law firm can review your case and help you pursue all avenues of compensation you qualify for.
What is the average settlement for an asbestos claim?
The average settlement for an asbestos claim is between $1 million and $1.4 million, according to Mealey’s® Litigation Report: Asbestos.
Asbestos settlements are affected by many factors, including:
- Age of the victim
- Details of the asbestos exposure
- Disease diagnosis
- Medical bills
An asbestos attorney may be able to give you an idea about the potential settlement value of your case.
What’s the largest asbestos settlement?
Asbestos lawsuit settlements are almost always confidential, making it difficult to collect data on them.
However, our legal partners have reported these notable settlements:
- $13.1 million to a carpenter with pleural mesothelioma
- $12 million to a laborer in Illinois
- $10 million to a boiler tender with pleural mesothelioma
- $8 million to a Texas pipefitter and plumber with pleural mesothelioma
What does a lawyer charge for asbestos case settlements?
Top asbestos lawyers pursue asbestos lawsuit settlements for their clients on a contingency fee basis. This means that the attorney does not charge any upfront or hourly fees, and only gets paid if they secure financial compensation for you.
If they are unable to recover compensation in your case, you pay nothing.
How do I access asbestos settlement funds?
The best way to access asbestos settlement funds is to work with an experienced asbestos law firm. These firms have access to resources that allow them to build strong cases and maximize settlement compensation for their clients.
These resources include:
- Attorneys with decades of asbestos litigation experience
- Relationships with respected medical experts
- Support staff, including case investigators and researchers
- Warehouses full of information on asbestos companies and products
Take the first step toward accessing asbestos settlement funds: get a free case review right now.
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