How much is a car accident claim worth?

Car accidents are frustrating experiences. Even minor fender benders can lead to extensive injuries, medical bills, and a future of chronic pain.

Fortunately, if you were in an accident that was not your fault, you can be compensated for your damages. Car accident settlement can vary greatly depending on several factors. These factors can include the severity of the accident and injuries, the insurance policies involved, and the nature of the incident.

For these reasons, there is no typical car accident settlement. Even if there were, the average car accident settlement wouldn’t tell you anything about how much money you will get in your accident settlement. What’s more important is knowing how much you might receive in your personal injury case.

Types of Damages in Car Accident Claims

When pursuing a car accident claim, you need to understand the different types of damages you may be entitled to. These damages fall into two main categories: economic and non-economic.

Economic Damages

Economic damages are tangible losses that can be easily quantified. They include:

1. Medical Expenses: This covers all costs related to your injury treatment, including hospital bills, doctor visits, medication costs, physical therapy, future medical care for ongoing issues
2. Lost Wages: If your injuries cause you to miss work, you can claim compensation for salary or wages lost during recovery, reduced earning capacity if you can’t return to your previous job, future lost income for long-term or permanent disabilities
3. Property Damage: This typically includes car repair or replacement costs, personal property damaged in the accident (e.g., cell phone, laptop)
4. Out-of-pocket Expenses: Any additional costs directly related to the accident, such as transportation to medical appointments, home modifications for accessibility, hiring help for tasks you can no longer perform

Non-Economic Damages

Non-economic damages are more subjective and don’t have a clear monetary value. They include:

1. Pain and Suffering: Compensation for physical pain and discomfort experienced due to injuries.
2. Emotional Distress: Mental anguish, anxiety, depression, or PTSD resulting from the accident.
3. Loss of Enjoyment of Life: If your injuries prevent you from engaging in hobbies or activities you once enjoyed.
4. Loss of Consortium: Compensation for the impact on your relationship with your spouse or partner.
5. Disfigurement or Permanent Disability: Additional compensation for long-lasting physical changes or limitations.

It’s important to note that while economic damages can often be calculated precisely, non-economic damages are more challenging to quantify. This is where an experienced car accident attorney becomes invaluable. They can help ensure that all your damages, both economic and non-economic, are properly assessed and included in your claim, maximizing your potential compensation.

How Car Accident Settlements Are Determined

Your car accident case will probably look a lot different from the next. Determining how much money you could receive in a car accident settlement depends on the specific information surrounding your case.

A car accident can range from a minor rear-end collision to a severe multi-vehicle car accident resulting in serious damage and medical treatment.

If you suffer only minor injuries without costly medical expenses, you may receive less in an accident settlement than someone who spends a few nights in the hospital. Your actions after your accident will also influence how much compensation you can receive from the at-fault driver’s insurance company.

Car accident victims should always call the police after an accident, especially if it results in personal injury or property damage. However, many people are tempted to handle everything on their own without calling law enforcement, especially in a minor crash. This is a mistake, and it could ultimately cost you thousands of dollars in financial compensation.

You should also document all significant property damage and gather personal information, including all drivers’ insurance information. You also need to keep copies of your:

• medical bills
• receipts for car repair
• estimated costs for continued care
• other financial losses, like lost wages

This information helps determine your maximum compensation in a personal injury settlement.

Suppose you choose to handle the case without an attorney. In that case, you may very well end up with less than if you hire an experienced car accident attorney who is better able to negotiate with the insurance company.

Maximizing your settlement: Understanding Coverage and resources

When pursuing a personal injury claim, it’s important to consider the available resources for compensation. This understanding can help you and your attorney develop a strategic approach to your case. Here are some key points to keep in mind:

1. Insurance Coverage: The at-fault party’s insurance policy is often the primary source of compensation. Understanding these policy limits can help set realistic expectations.
2. Additional Assets: In some cases, the responsible party may have assets beyond their insurance coverage that could contribute to your settlement.
3. Optimal Outcomes: Your attorney can help you assess the full picture and aim for the most favorable settlement possible given the circumstances.
4. Efficiency in Resolution: Sometimes, accepting a settlement close to the maximum available resources can be more beneficial than pursuing a lengthy legal battle for a marginally higher amount.
5. Cost-Benefit Analysis: Your lawyer can help you weigh the potential benefits of different settlement options against the time and costs involved in pursuing them.

By considering these factors, you and your experienced personal injury attorney can work towards achieving the best possible outcome for your specific situation, balancing fair compensation with practical considerations.

What Are Lawyer Fees in a Car Accident Settlement?

When seeking legal representation for your car accident claim, it’s important to understand how attorney fees typically work. The good news is that most personal injury lawyers operate on a client-friendly payment structure:

1. Contingency Fee Basis: Attorneys usually work on a “no win, no fee” arrangement. This means you only pay if your case is successful.
2. Transparent Fee Structure: Your lawyer should clearly outline their fee structure in the initial agreement, ensuring you know exactly what to expect.
3. Percentage-Based Fees: Typically, attorneys receive a percentage of the settlement amount:
4. Covering Case Expenses: Your attorney often advances the costs associated with building your case. These expenses are usually reimbursed from the settlement and can vary based on the complexity of your case.
5. No Upfront Costs: This fee structure allows you to pursue your claim without worrying about out-of-pocket legal expenses.
6. Aligned Interests: Since the attorney’s payment is tied to your success, they are motivated to achieve the best possible outcome for you.

This approach to legal fees makes quality representation accessible, allowing you to focus on recovery while your attorney handles the legal aspects of your claim.

How Long Does it Take to Get a Settlement from a Car Crash?

The duration of the settlement process can vary depending on the specifics of your case. Simple cases with minor injuries may resolve relatively quickly, while more complex cases involving severe injuries often take longer to settle. Your medical recovery plays a crucial role in the timeline, and it’s often beneficial to wait until you’ve reached maximum medical improvement to fully understand the long-term impacts of your injuries.

Many personal injury cases are resolved within a year, though some straightforward cases might settle in a few months. Complex cases can occasionally extend beyond a year. It’s important to remember that while a quick resolution can be appealing, it’s often worth taking the time necessary to ensure you receive fair compensation for all your damages, both current and future.

Once you’ve signed the Settlement Release Agreement, you should typically receive your settlement check within 30 days. However, cases involving minors or wrongful death claims may require court approval, which can extend the timeline.

Throughout the process, your attorney will work to balance the need for a thorough evaluation of your case with the desire for a timely resolution. They can provide more specific estimates based on the unique aspects of your situation.

Act Quickly– Call Alexander Shunnarah Trial Attorneys Today

If you’ve been hurt in an automobile accident, it’s important not to waste any time. Most states have a statute of limitations of two years from the date of the accident to file a lawsuit. This may seem like a long time, but it will go by quickly, and your legal representation will need as much time as possible to build your case.

Working with an experienced attorney can help you win your personal injury lawsuit against the negligent driver with minimal distress. Working with an injury lawyer will make you more likely to receive adequate compensation, allowing you to focus on your physical recovery.

Your attorney also won’t let your insurance company push you around and ensure you receive a reasonable settlement.

Focus on your recovery while we focus on your case. Contact Alexander Shunnarah Trial Attorneys for a free consultation. Your path to justice begins with one call.