How Much to Expect From a Car Accident Settlement?

How Much to Expect From a Car Accident Settlement?

When you figure in an accident, especially if you’re the one who suffered the most from the corresponding injury, you have to assert your right and get indemnified. But how do you determine who is at fault in a crash? How do you determine the amount of damage that should be indemnified?

The truth of the matter is, the amount of indemnification depends on a couple of factors. However, when you decide to settle, you need to satisfy a few requirements as you have already filed the case in court, and that when you agree to the settlement amount, you also agree that the case will be closed.

What Damages Can You Claim?

When you file a case in court, you can claim six types of damages — moral, exemplary, nominal, temperate, actual, and liquidated damages. However, if you agree to a case settlement, the court will no longer be the one to adjudicate these damages. Both parties to the case will come to an agreement as to how much the settlement would be.

How Much Is the Average Settlement Amount of Auto Accidents?

Each case is unique, so it’s quite difficult to determine the average settlement amount. This is a guideline to help you anticipate how much you should get.

  • $10,000 to $20,000 for whiplash, soft tissue damage, and other minor injuries
  • $50,000 to $ 70,000 for lasting injuries requiring physical therapy and surgery
  • $75,000 to $110,000 for back and spinal injuries that won’t result in paralysis
  • $115,000 to $250,000 for loss of brain functions and cognitive impairment necessitating surgery and other types of brain injuries

If you’re suffering from debilitating injuries like severe brain injuries or paralysis requiring daily assistance, the settlement cost can go as high as hundreds of thousands or millions. Sadly, not all these are covered by insurance policies. Insurance firms will only give you as much as they can. For example, the settlement amount should have been worth over $20,000 but they will only give you $10,000. You need to sue the person responsible for the damage if you want more.

What Are the Factors Affecting the Worth of Car Accident Settlements?

The amount of settlement can vary depending on such factors as who or what was harmed during the accident, whether the victim also sustained injuries, or was the damage limited to the car. Other factors also include the suffering and pain experienced by the victim after the event. The settlement you can receive might only cover the cost of vehicle damage, or higher to include compensation for long-lasting injuries, and time you could not work because you were on recovery.

How Much Should I Expect From Car Accident Settlement? | Emroch & Kilduff

Can Suffering and Pain Be Quantified?

Suffering and pain can transcend beyond the physical injury the victim suffered. It could also include the emotional distress suffered by the victim as a result of the injury. Several types of emotional distress could fall under suffering and pain. These include the following:

  • Long-term or temporary physical pain
  • Psychological and emotional and psychological disorders like insomnia, anxiety, and depression
  • Physical disabilities and limitations

To figure this out, you can calculate all your bills — vehicle damage, lost wages, therapy bills, medical expenses, and other incidental or special damages. Then again, this is not the only way you can calculate your expenses and settlement cost under suffering and pain. You can also be more specific by determining your suffering and pain category.

The best way to categorize is to segregate current suffering and pain from future suffering and pain. The former includes all the expenses after your medical treatment concludes. On the other hand, the latter includes all the pain and suffering you might experience in the near future. This explains why your claim could go higher if you consider both the current and future sufferings.As you compute your claims, make sure that you’re not going overboard. Protect your rights and seek redress for your injury, but do it in a justiciable way. The other party may have the money to pay for it, but always choose to be the bigger person and maintain justice and equity in your dealings.

Author: Flavia