What Is the Average Settlement for a Car Accident With Injury?
If you have been involved in a car accident, there is a chance that you have suffered property damage. There is also a chance that you may have sustained injuries due to the accident. Injuries resulting from car accidents are not definite. Some people may suffer fatal and permanent injuries while others may suffer minor injuries. The extent of the injuries suffered by an accident victim depends on several factors including the type of car accident, the force of impact, and more. If you have been involved in a car accident, pushing for compensation is essential. Accident victims who are in Ozeri Law Firm Injury & Accident Lawyers or any other law firm's office often want to know what their case is worth.
The worth of a car accident case is not set in stone. The amount won will depend on a range of factors including the extent of the damages, the injuries sustained by the accident victim, the lost wages, medical bills, pain and suffering, and more.
What Is the Average Car Accident Settlement?
The average car accident settlement is pegged at $15,443 for accidents where the victims suffered physical injuries. For accidents where the victims only suffered property damage, the average settlement costs sit at $3,231. It is important to note that a lot of factors contribute to the amount you can win in a car accident case. Some of the factors that can affect the overall payout includes whether or not the at-fault party is insured, the insurance policy of the at-fault party, the laws that apply to the case, medical and rehab bills, and the extent of damages and injuries suffered.
How Much Money Can You Get From A Car Accident Settlement
The number one factor that affects the amount you can get from a car accident settlement is the extent of your losses. A car accident settlement is expected to take into account your losses and damages. Your lawyer will estimate your total financial losses as well as the pain and suffering that you have been subjected to. In addition, the lawyer will also make sure that your case meets the legal standards required for compensation to be pursued.
What To Expect From Your Car Accident Settlement
To determine what your case is worth, there is a need to look at the several factors that affect the overall amount that you may be offered in settlement. The important factors include;
- How Severe Are Your Injuries – Accident victims can suffer a wide range of injuries from minor ones to fatal and catastrophic ones. A car accident victim that has suffered minor injuries like cuts, abrasions, lacerations, and minor burns will be offered a lot less in medical bills compared to another victim that has suffered permanent injuries like spinal cord injuries, Traumatic Brain Injuries, amputations, bone fractures, and more. People who suffer serious fatal injuries require a lot more money to cover their medical bills. Those that have suffered long-term disabilities may also require ongoing medical support which will be classed under their future medical bills.
- The Financial Losses Suffered – Accident victims can also base their car accident settlement on the extent of their financial losses. A car accident victim that has suffered property damage to their expensive vehicle will require repairs which may run into several thousands of dollars. On the other hand, financial losses may also be in the form of lost wages and lost earning potentials. Lost wages are calculated by the number of valid work hours that the accident victim has missed due to their injury. Lost earning potential, however, often deals with fatal injuries where the victim may have suffered lifelong injuries or disabilities.
- The State Laws – The amount to be recovered in car accident settlement also depends on the laws that are active in our state. Some states compensate accident victims while others require the accident victim to file their claim with their insurance provider. In states where you can bring the at-fault party to book, there is a higher chance of recovering more money in compensation for the damages and injuries suffered.
- How Obvious the Fault was – Sometimes, insurance companies may argue that their client was not at fault. However, accident cases where the at-fault parties are clear and glaring tend to command more money in settlement for the victim. This is usually because there is no way for the insurance company to wiggle out of the liability.
- The Insurance Policies in Place – The higher the insurance coverage or policy option that the at-fault party has, the higher the amount the accident victim may be able to claim. An underinsured or uninsured motorist will offer much less in compensation compared to another with comprehensive coverage.
Types of Damages in a Car Accident Claim
- Medical Expenses
Your medical expenses will most likely make up the largest share of the amount demanded in compensation. Medical expenses include the costs incurred on treatment and care due to injuries caused by the car accident. If you have suffered long-term or catastrophic injuries, your medical expenses will also include an estimate of your future medical treatment and care. Costs that make up your medical expenses include ambulance costs, hospital stays, prosthetic devices, medical appointments, transportation to medical appointments, rehabilitation costs, costs of needed in-home services, medications, and others.
- Income Losses
If you have suffered injuries that have robbed you of the productive time that could have been used to earn money at work, you may also be able to claim income losses. The process of calculating lost income is fairly simple, however, for a person that has been permanently disabled, the calculation can be a bit complex.
- Pain and Suffering
Pain and suffering fall under the non-economic losses incurred by the accident victim. Your lawyer will consider the extent of your injuries as well as the discomfort it has caused you. They will then determine to what extent you have been affected by this item of damage. Pain and suffering is usually rated between one and five with five being the most severe kind.
- Loss of Consortium
If the accident victim has been left disabled and unable to live life as it were before the injury, he or she may also be able to demand compensation for the loss of consortium. This damage usually relates to the inability of the accident victim to enjoy their relationship as before.
Other damages include;
- Loss of quality of life, and
- Property damages
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