If you are looking for the average settlement for car accident then you are in the right place.
You’re involved in a car accident. You get personal injuries yet it’s not at your fault, then you have to be compensated for the injuries suffered, losses incurred and the future losses estimate.
You’re not at fault for the accident. To confirm that you’re not at fault, the following issues are considered for clarification:
- How you percept the details of the whole accident.
- The statements of the first responders or witnesses basing on how they percept the accident facts.
- The photos that were taken from the crash scene.
- The law enforcers make a report. Do the results favor your innocence?
If the other driver admits his/her fault in his/her statement.
How should you be compensated for a car accident impacts?
The very challenging question is, how much should you be compensated by the insurance company?
You should not rush to any conclusion before completing the treatment and getting or involving an experienced lawyer because the insurance company will rush to you for an offer which may seem as some valuable stuff but yet in most cases it’s not and you have to get more than that. Before you accept anything, first consult and involve your lawyer.
Parts of a car accident settlement
For you or the judge to come up with a final amount that you feel suits the case, have to put the different pieces together as a requirement.
The medical bills you cleared
Because of the accident, you suffered either minor or serious physical and psychological injuries, you had to pay the doctor for the treatment of the injuries and corresponding medical requirements for you to recover fully.
The bills are postpaid but for recurring or permanent injuries, these bills can be pre-paid as estimates.
The auto repair expenses
Remember, your car was damaged, it has to be repaired and you paid the auto garage expenses fully. You must keep all the receipts safely as evidence for the expenditure.
The loss of income due to absence at work
You have to sit down and calculate how much you could earn daily if you were at work during the time you’re unable to work because of the accident plus the other incentives or promotions you would have got if you were at work during that period when you were not.
The severity of the accident
You have to look at how severe the accident was and the injuries suffered. This is associated with the pain and suffering that you pass through. How the injuries affected your ability to work?
The duration of the injury
The above paragraph talks about the severity of the injury, but you have to look at how long has it taken for the injury to heal or how long have you taken getting treatment for the injuries.
How to calculate the car settlement amount for your case
Putting the pieces mentioned before together, we can come up with the estimated amount but it’s not the final since the insurance company can plead or the judge can adjust or reduce it based on the circumstances.
In most cases, law firms advise you to get the sum of medical expenses, auto repair expenses, income losses, and other treatment expenses, multiply the total by 2, 3 or 4 to cater for the suffering and pain.
What is the average settlement amount for a car accident?
The compensation payout value is not established as of yet because there are no accident settlement cases which are identical. Every case is different from the other, therefore different compensations.
Two people can be involved in the same or identical accident, get different or similar injuries but later on, get different compensations.
The settlement amount range from $500 for minor cases to $110, 000 for very serious cases but this high compensation rarely occur.
We could use the above range to get the medium but it won’t be the case because the highest value has a very rare occurrence. Let’s base on the law firms data collected based on the previous cases handled.
Basing on the data collected by various law firms in the US, the car accident settlement ranges between $14,000 and $28,000 for most common accidents.