Most jurisdictions mandate that after any car crash, the person responsible for causing the accident has to cover the victim’s damages. The auto insurance under the liable person will pay for medical bills, property damages, lost wages, and other losses incurred during the accident.
A settlement offer will be presented to the victims through the person’s insurance company. This would be a lump sum payment, in exchange for which the victim gives up all rights to future claims. If the victim accepts the settlement, the case is considered resolved. However, if the victim is not satisfied with the offer, a car accident lawsuit is initiated by the victim. According to Forbes, most cases settle outside the courtroom to avoid the hefty court proceedings fees.
What Is the Average Settlement for a Car Accident Settlement?
The average car accident settlement in any state depends on several factors, including the severity of any injuries sustained and the amount of property damage. The settlements can be anywhere from a few thousand dollars to hundreds of thousands or even more. For instance, in Minnesota, personal injury is about $30,000.
However, auto accident settlements can be higher for those who suffer more serious or long-term physical injuries from their accident. Settlements can also include compensation for medical bills resulting from the accident and any lost wages due to time off work—also, settlements factor in who was at fault for the crash and what insurance coverage was involved.
There is a cap for car insurance companies involved with personal injury, depending on your coverage. This does not mean this is all you will receive in a settlement. You may go outside the no-fault system if your damages exceed the threshold. You may also recover compensation for pain and emotional distress in a car accident.
What Is the Timeline for Settling a Car Accident Claim?
Most states take weeks or months to settle an auto accident claim. However, this may not be the case for the more complex cases. Sometimes, it may take longer, and it could be months or years before the case is fully resolved.
If you need to initiate a lawsuit against the at-fault driver, there is a different process, and it involves a third-party insurance company. Settlements can be easier to attain if there is supporting evidence that the other driver is at fault. But, for other issues that the parties cannot agree to, the court will get involved.
How Does the Settlement Calculator Work?
After any car accident occurs, there is an estimate of what the car accident settlement might be worth. It is crucial to understand this to negotiate a fair settlement for your car accident injuries. When determining what this amount is, it means figuring out what sum of money you would accept in exchange for not attending court. A car accident settlement calculator can assist you in getting a general idea of what your claim may be.
The auto insurance companies and lawyers utilize a variety of car accident settlement formulas to calculate a figure. Once this is determined, the settlement negotiations can start. As the person injured, it is useful to configure a worth in dollars for the settlement using an online car accident settlement calculator.
To use our car accident settlement calculator, you must add a possible settlement amount for the injuries you suffered. After you have filled out the form and calculated a result, you may consult with an experienced car accident personal injury attorney to understand what your options are in your case.
Remember that the car accident settlement calculator is meant as a tool and is not recommended as a substitute for legal advice. Under the calculator, additional information about the various personal injury values needed to be entered to get a settlement figure.
What Are Car Accident Injuries?
There are some car accident-related injuries that are described briefly below to obtain a fair settlement for your case. Most cases will have some sort of medical bills. You could be entitled to money for your medical bills that were incurred due to the car accident if the accident was due to the negligence of another party. If you need additional medical tests or treatments, the person who caused the accident must pay for them.
Some of these car accident medical costs consist of the following:
- Hospitalization;
Rehabilitation;
Nursing home stays;
Physical therapy costs and;
Co-pays.
Medical costs are considered one of the most common damages that may be reimbursed in a car accident case. In some situations, people suffer more serious injuries that would require a lifetime worth of care. This would require a higher dollar amount to cover the necessary costs. Medical expenses incur quickly in car accident cases.
Be sure to include any expenses you paid out of pocket as you got medical treatment for your various car accident injuries. Some states also have emotional distress as reimbursements for car accidents. For instance, if a pregnant woman got into a car accident, this would create an emotional distress situation for the mother.
Besides the claims mentioned earlier, you must maintain a record of your funds from the settlement to reimburse your health insurance provider. This is applicable in your case if your health insurance provider has been managing your medical costs before settlement. It is crucial to ensure that the medical bills are paid accordingly, especially during such a stressful time. If you struggle to complete this independently, seek legal assistance to help you through your case. The worst situation to come across is incurring hefty medical expenses and debt.
Although the person’s injury is the main priority in most of these auto accident cases, you need to also think about your property damage. The amount of property damages in a car accident consists of the monetary damages to property related to the accident, especially your vehicle. These damages may include repairs to your vehicle, the costs of replacing the parts, towing car costs, and any other damage caused to the car due to the accident.
Furthermore, since being hospitalized, you will need to miss work, and there will be a loss of income. Being compensated for your lost income caused by a car accident or personal injury is another major part of the damages you may be entitled to. The compensation would be calculated for the pay for missed work and any loss of time that you had to spend instead on receiving therapy or medical treatments, including physical therapy, rehabilitation, and chiropractic visits.
Furthermore, you should be compensated for the sick days you had to take to heal from the injury. This provision should be included in your settlement. Your lost wages due to the car accident injury can also be a part of the settlement that the insurance company offers.
When Do I Need to Contact a Lawyer?
If you have recently been involved in a car accident and are having issues with the settlement payouts, do not hesitate to reach out for legal advice. There are certain situations in which you must be compensated for suffering an injury resulting from a car accident. You can talk to a local car accident lawyer to assist you with your case and to understand your options.
