If you have been involved in a car accident, you’re probably dealing with medical bills, insurance payments and emotional distress. Auto wrecks always seem to happen at the wrong time, and they can leave you hassling with issues that you never thought you would have to deal with.
A car accident settlement can reimburse you for the money that you’ve paid out. It can also make up for lost wages, physical or psychological trauma and the cost of replacing your car.
Where does the average auto accident settlement come from?
If you’ve been involved in a car accident, your insurance or the other driver’s coverage might be responsible for compensating you for injury and damages. If you have collision coverage on your own vehicle and the crash was your fault, the insurance company will pay a certain amount to fix your car. If the cost to repair the damages is more than the value of your vehicle, the insurance company may consider your car totaled and give you a lump sum based on how much it’s worth.
When the wreck was caused by another driver’s negligence, his or her insurance company should compensate you for any losses, damages, pain and suffering. The sum that the company offers may be much lower than you expect.
It’s easy to get reimbursed for funds that you’ve paid out. It’s challenging to put a fair price on pain and suffering.
Should you call a lawyer for my car wreck?
Working with a car accident lawyer can help you receive reasonable compensation that may exceed the amount that the insurance company would offer you on your own. An automobile injury attorney will help you present every detail about your case to the insurance company or a judge. He or she might bring up information that you would have missed if you did the negotiations yourself.
Reimbursement for your car repairs and medical bills will almost always be determined by the amount that you paid. The lawyer will help you negotiate an adequate settlement for pain and suffering.
It’s the insurance company’s job to offer you the lowest acceptable amount for a settlement. That’s how the organization makes the most of their own income and profits. An insurance adjuster may try to prove that you underwent unnecessary treatment. They may attempt to say that you were able to go to work.
A lawyer will help you take the measures that are necessary to protect yourself if you’ve been injured in an auto wreck. You’ll need to document everything related to the accident. When a doctor can vouch for missed work days and the treatment that you have received, you should be able to recover the money that you’ve lost.
If you want to maximize your settlement, you’ll need to do more than submit a claim through an insurance company. An attorney will help persuade the insurance company that they should look into the matter further. A lengthy investigation may be initiated, and the personal injury lawyer will negotiate the settlement with the insurance company.
You don’t always have to file a lawsuit to get a settlement payout for whiplash or another auto injury. The insurance company and your attorney may reach a suitable agreement. If they don’t, you may need to take the matter to court. A car wreck attorney can answer your questions about suing after a car accident.
What kind of settlement should I expect from a car accident?
One guideline for determining a settlement is that the total will be about three times the cost of your medical bills. However, a variety of factors go into deciding the average settlement for a car accident.
A judge will take into account the type of injury, treatment plan, length of therapy, loss of income and severity of the wreck. In most cases, a settlement is only offered when the medical treatment has been completed. Permanent injuries will influence the amount of compensation that you receive.
If you’re working with an insurance company after a car wreck, let them know if you’re still going through medical treatment so that you don’t settle for less than you deserve.
How car accident settlements are calculated
Hutchison & Stoy has created a calculator that will give you an estimate case value for your car accident settlement.
View the personal injury calculator to get the estimated value of your case.
The insurance industry doesn’t have an exact formula for calculating the average car accident settlement amount. If you only sustained damage to your car, you’ll typically be reimbursed based on the policy limits.
Pain and suffering compensation is only given when you have been injured. Therefore, it’s important to be examined by a doctor immediately even if you don’t think that you’ve been hurt.
Some automobile crash injuries, such as whiplash, don’t become evident until a few days after the crash. If you’ve already negotiated your settlement or waited too long to get medical care, you might not be compensated for the injury.
If you want to get a rough estimate of how much to expect from a car accident settlement, add up your expenses for medical bills, car repairs and lost wages. Multiply that sum by three.
For example, let’s say that you injured your back in a car accident and paid $5,000 in doctor’s bills. You were out of work for a week, which made you lose $2,000 in income.
Your average car accident settlement might be approximately $21,000. It is likely to fall somewhere between $14,000 and $28,000.
The settlement is generally higher for more severe or permanent injuries. You’ll also get paid more if the other driver was found to be driving under the influence.
When you’re filing an injury claim with the other driver’s insurance company, you’re limited by their policy maximum.
For example, if you sustained $30,000 in damages but their insurance limit is $20,000, you might need to sue the individual separately to reclaim the additional $10,000. You might be able to file with your own insurance company if you have under-insured motorist coverage.
If you’ve been hurt in an automobile accident, make sure that you move quickly. You typically have one or two years from the date of the accident to file a lawsuit. A minor can file a lawsuit any time before their 18th birthday.
Working with a personal injury lawyer can help you go through the process with minimal distress. You’ll be more likely to get adequate compensation, and you won’t be left wondering if you could have done more to recoup the value of your pain and suffering.
Contact a Fort Worth car accident lawyer immediately after your car accident so that you maximize your ability to get the compensation that you deserve.