How Much is the Typical Car Accident Settlement?

If you have been in a car accident, you might be able to recoup compensation through a personal injury claim. Because not all car accidents are the same, not all settlements are the same. There is no typical car accident settlement. There are several things that must be considered when a personal injury claim is resolved after a car accident. With the help of a personal injury attorney, you can make sure you are treated fairly.

Determining the Amount of the Settlement

The nature of the accident and the severity of the injuries impact the outcome of the claim. Sometimes a settlement formula is used. When this approach is followed, the medical bills are multiplied anywhere from three to five times to determine a fair settlement.

As an example, a soft tissue injury wouldn’t receive as much pay out as a broken bone. Then you wouldn’t receive as much for a broken arm injury as you would if you suffered a traumatic brain injury that will affect the rest of your life. Because those damages vary, there is no typical car accident settlement.

Basically, a fair settlement is based on what a jury would award you because of your damages suffered in the accident. Your settlement is based on a combination of your pain, your medical bills, your suffering, your lost wages, and future losses that will result from the long-term effects. So, in some cases, the multiplication formula is not accurate. Sometimes the medical bills and lost wages are added together then multiplied five times to determine the value of your claim.

How Much is the Typical Car Accident Settlement?

When A Personal Injury Claim Should Be Pursued

If you have been involved in a car accident that was not your fault, you should pursue a personal injury claim. While no one can guarantee how much your accident settlement will be, it is likely in your best interest to pursue a claim against the other party to recoup compensation for your damages.

If you have suffered minor injuries, such as those that don’t require you to miss work, you will have a small settlement. If you have major injuries that involve your spine or brain, you will have a major settlement. Some major injury settlements can reach into the six-figure range.

When your personal injury claim is filed, your attorney will gather up your medical bills and proof of any missed work and lost wages. You will want to be reimbursed for those. Your attorney will also check your medical records and consult with your treating physician to determine if you will need any additional medical care and if you will miss more work in the future. You will want to be compensated for those expenses as well because you don’t want to end up in a financial bind for getting the additional care that your injury requires.

Consult With A Personal Injury Attorney

If you have been involved in an auto accident, you should consult with a personal injury attorney right away. You will get a free case evaluation where the attorney will tell you if he or she believes pursuing a claim is beneficial for your case. Your attorney will tell you there is no typical car accident settlement. Because auto accident injury lawyers work on a contingency basis, you won’t have to pay anything out of pocket. Instead, your attorney will be compensated out of your settlement or judgment. Get your claim underway today.

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