One of the most important concerns people have in the aftermath of a car accident is expenses and how they are going to manage potential medical expenses, loss of wages, property damage, etc. Filing a car accident claim and obtaining a settlement is a solution many turn to. The settlement amount is meant to compensate a car accident victim for their losses and can vary depending on the specifics of each claim.
Average Car Accident Payout
The average car accident settlement amount can vary significantly depending on a variety of factors. When you reach out to our team for a free initial consultation, our attorneys do their best to evaluate your claim and give you an idea of what you may expect. This comes from our knowledge of car accident injury settlements and our experiences with previous clients.
Here are examples of the settlement for a few of the many cases we have represented:
- $4,600,000 for a client who sustained a traumatic brain injury and multiple broken bones after being ejected from the passenger seat of a car that was hit.
- $1,500,000 for a client who sustained multiple injuries including a broken back, fractured pelvis, and broken hip after being crushed under his neighbor’s vehicle.
- $1,250,000 for a client who sustained multiple injuries requiring surgery after being hit in a head-on collision by an intoxicated driver.
For more examples to browse, check out our Results page.
Past results obtained on behalf of clients afford no guarantee of future results and every case is different and must be judged on its own merits.
What Factors Can Impact a Car Accident Injury Settlement?
As mentioned before, several factors can impact the final settlement amount in a car accident claim. These are some of the most common factors that are taken into account:
- Severity of Injuries – the injuries sustained in an accident is one of the most significant factors that can impact the settlement amount.
- Medical Expenses – the cost of medical treatment including hospitalization, surgery, medication, rehabilitation, and ongoing care are factored into the settlement amount.
- Lost Wages– the injured party may be compensated for any lost wages if they are unable to work due to their injuries. This accounts for any past and future lost earnings.
- Pain and Suffering– any pain and suffering the injured party has endured as a result of the accident may be accounted for. This includes physical pain, emotional pain, and loss of enjoyment of life.
- Property Damage– the cost to repair or replace a damaged vehicle can impact the settlement amount.
- Comparative Fault– in cases in certain states where the injured party may partially be at fault for the accident, the settlement amount may be reduced based on the percentage of fault assigned to the injured party.
- Insurance Policy Limits– if the at-fault driver’s insurance policy has a low limit, it may be difficult to recover the full settlement amount to compensate for damages.
- Legal Representation– having an experienced lawyer on your side can increase your chances of obtaining the maximum compensation possible for your injuries and losses.
Learn more about how you can maximize your car accident claim in our blog post here.
How Long Does It Take to Get Money from a Car Accident Settlement?
The time it takes to get money from a car accident settlement is also dependent on each claim. While some settlements may be reached quickly, others may take months or years to finalize. Examples of factors that can impact the timeline of your settlement include:
- Complexity of the case
- Negotiation
- Court proceedings
- Insurance company response
Each phase of the settlement process can be smooth or delayed depending on whether there are multiple parties involved, disputes over liability occur, willingness to negotiate, and general back-and-forth communication time. A good legal representative will keep you informed throughout this process and help you manage your expectations.
Conclusion
Car accident settlement amounts can vary greatly depending on the circumstances of your accident and who you have on your side representing you. To ensure you receive the fair compensation you deserve, get in touch with a legal professional who keeps your best interests in mind.
If you or a loved one has been in a car accident, you don’t have to face the aftermath alone. Our trusted attorneys will help you fight for the compensation you deserve. Get in touch for a free initial consultation.