An auto accident is one of the most stressful and overwhelming experiences. Sometimes, accidents can occur when we’re in a rush or distracted.
If you were ever involved in a car accident, you might be eligible to receive compensation for your injuries. Finding the right lawyer to represent you can help you obtain the compensation you need.
For this reason, you may want to do some research on car accident settlement amounts. For those looking at pursuing a claim, here is a guide on what car accident settlement amounts look like. Keep reading!
What is the Average Car Accident Settlement Amount?
Average car accident settlement amounts depend on a variety of factors. This includes the severity of the injury, the cost of medical bills, and other related expenses.
In some cases, the settlement amount may be higher if someone else’s negligence or recklessness caused the accident. Settlement amounts for victims of drunk driving may be higher than those for victims of a minor fender-bender. It’s essential to prove negligence in car accident to secure a fair settlement.
Also, tort laws vary from state to state, so state laws can also affect potential settlement amounts. Generally speaking, the average car accident settlement amount is determined by the circumstances of the individual case.
Personal injury attorneys often work with the victim and the insurance company to negotiate a fair settlement. However, if no fair agreement can be reached, the case may be brought before the court where a judge and jury will decide the appropriate award.
Minor Car Accident Settlement Amounts
For minor car accident settlement amounts, there is typically less money involved. The fault is a major factor. If a person is found at fault for the accident, they will likely face a decreased settlement.
In addition, the amount of property damage and personal injuries sustained may impact the minor car accident settlement amount.
Minor car accidents may result in payments ranging from a few hundred to around $3,000 on average. It depends on the severity of the damage. Legal help may be required to ensure one receives a fair and adequate settlement.
Serious Car Accident Settlement Amounts
On average, it is estimated that an individual is likely to receive around $15,000 in compensation for a car accident. But if the accident is particularly serious, the average settlement amount could be much higher.
When more serious injuries, such as permanent scarring, loss of limb, or extensive medical treatment take place, then settlement amounts can increase significantly. Amounts awarded after these types of car accidents can range from tens of thousands to millions of dollars.
It is important to consult an attorney to assess the severity of a car accident. Physical injury and medical bills can contribute significantly to the amount of a car accident settlement.
In cases involving a fatality, typically much larger settlement amounts will be awarded to compensate the families of the deceased. Ultimately, there is no right answer as to what a fair settlement amount should be in any given accident.
Average Car Accident Settlement Amount by State
On average, an individual can expect to receive an average car accident settlement of around $20,000. This amount can, however, vary greatly depending on the state they are in.
For instance, settlement amounts in California are known to be higher, averaging around $25,000 per settlement. Settlement amounts in states like Georgia tend to be on the lower end of the spectrum. Often averaging around $15,000 per settlement.
Settlement amounts vary greatly based on their circumstances. It also depends on the state in which the accident occurs.
Severity of Injuries
The settlement amount will largely depend on the severity of the injuries sustained by the victim. Minor injuries may be settled in the tens of thousands of dollars.
More serious injuries may lead to larger settlements ranging from hundreds of thousands to millions of dollars. Understanding the severity of injuries and associated costs can give victims a better sense of what to expect.
Medical Expenses
The settlement amount can depend on the medical expenses associated with the accident. These medical expenses can include medical bills, medications, and diagnostic tests.
The settlement may also include compensation for pain and suffering. Generally speaking, the greater the medical expenses the higher the settlement amount can be expected to be.
Property Damage
It is hard to estimate the average car accident settlement amount without consulting a personal injury attorney. Damages from an accident can include not only the value of the property damage to both vehicles but also any consequential damages.
Consequential damages are damages that are indirectly caused by the accident. This includes lost wages and medical expenses.
The at-fault party is typically responsible for paying the costs involved. But this is not always the case. Insurance companies usually cover property damage costs but depend on the policy.
Insurance Coverage
Most car insurance policies provide coverage up to a certain amount, and any damages exceeding that amount must be paid out of pocket. Additionally, if the other driver involved in the accident is uninsured or underinsured, any remaining balance must be paid out of pocket as well.
If a person has insufficient insurance coverage, they can sue the other driver for additional damages. In some cases, this could lead to a larger settlement amount.
Legal Representation
Having legal representation provides a greater average car accident settlement than trying to settle a car accident lawsuit on your own. This is because an attorney has experience handling car accident cases. They can assess the value of the damages and hold negligent drivers accountable.
An attorney can also provide advice on the best settlement route available. They can help to maximize the settlement amount and ease the burden of the accident.
Understanding How Settlement Amounts Are Calculated
The average car accident settlement amount varies greatly depending on the severity of the accident and the specific circumstances that led to it. Having a car accident lawyer by your side and understanding the applicable law can make all the difference in getting maximum compensation.
Reach out to an experienced attorney to determine the best path to make sure you get the settlement you deserve.
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