If you have ever been involved in a car accident, thoughts that you must have had must have centered on how much the insurance company would be willing to offer you as compensation. One common question we have been receiving lately is the car accident settlement amounts average, and we actually wish that this question is easy to answer.
The fact is the answer to this question rests on a whole lot of variables. In the United States, car accident statistics show $242 billion annual costs on car accidents. Car accidents could either be minor accidents where there are little or no injuries. On the other hand, a car accident could also be severe, resulting in the victim turning disabled or losing a life.
Several factors need to be considered when finding a client’s insurance claim for personal injury lawyers. One of such factors depends on the personal experience of the victim and his damage. However, two key factors can be used when calculating car accident settlement costs;
- How severe the injuries are
- What amount the insurance company is willing to pay
Car Accident Settlement Amounts Average
If the injuries that you have sustained in a car accident are minor, then the chances of getting a large settlement amount are meager compared to someone whose injuries suffered during a car accident have greatly affected their life negatively.
This shouldn’t discourage you from filing for a personal injury claim after an accident because you are still entitled to compensation. Still, it would help if you also remained aware that insurance companies are reluctant to pay heavily for personal injury claims, no matter how big or small they are.
Insurance companies would try to carve out ways to deny claims or pay you lesser for your claims. This is why the extent of your injuries, the driver at fault, and how strong your evidence is significant in getting a substantial settlement amount as compensation. Some factors that contribute to getting a large settlement amount are revealed below;
1. Medical Bills
Medical bills make up a great part of special damages sustained in a car accident, and these bills involve the ones that have already been paid and the ones that are still piling up. In some cases, certain bills can be paid after receiving a settlement from an insurance company, while other times, paying upfront out of your pocket is simply all that you have to do.
If your injuries cost more, you will likely receive a higher amount as a payout from the insurance company.
2. Lost Wages
Lost wages most times are calculated together and included in your car accident settlement. This actually refers to the money and time that you have lost because of the injuries sustained in your car accident.
You will actually need to prove that you were earning a particular amount before the accident. Even though recovering fully isn’t guaranteed, your lawyer would make sure that the compensation you receive would cover up for the times that you have skipped work.
3. Pain And Suffering
Emotional stress can also be claimed when you claim them; you must first sustain a physical injury from the car accident. Emotional damages must come out from the physical injuries you have sustained from the car accident. Calculating pain and suffering is complicated and would require a well-skilled and experienced lawyer to do so.
Judging by all of these factors that we have mentioned, calculating the car accident settlement amounts average isn’t really an easy thing to do. Furthermore, each case might be different from the next, and it is even more difficult to come up with a number because personal injury settlements most of the time are left private.
With that being said, a recent survey has shown that the average compensation one would receive for a personal injury claim is about $52,900, while settlements and awards lie between $3000 to $75,000.
You should note here that these numbers would depend if you decide to seek assistance or not or the details that your case involves. In terms of professional help, hiring a lawyer or attorney would also play a good role in helping you get a larger settlement amount because lawyers are well skilled in building a strong claim and ensuring that you end up receiving a fair settlement.