Realistic Expectations: How Much Money to Expect From Car Accident Settlement
Being in a car accident is a terrible experience and it can be made worse if the accident was someone else’s fault.
Injuries or loss of income due to being out of work make the matter even more horrible.
If you’re wondering how much to expect from a car accident settlement, the amount is going to depend on a variety of factors.
Keep reading to learn more about what you can expect when you’re waiting on a settlement after a car accident.
How Much to Expect from a Car Accident Settlement
Even though vehicles are much safer now than they ever were before, driving has actually become more dangerous than it used to be. In 2018, 4.5 million people were injured in car accidents.
When you’re in an accident with a large truck or even a bus, these injuries may be more severe. Even the most cautious drivers are not always safe from reckless drivers.
Here are some of the things that you need to know when considering how much money your settlement offer may be after a car accident.
Police and insurance adjusters will decide who is at fault by looking at the facts. They will review evidence that points them in the direction of why the accident happened and what could have prevented it.
After the fault has been determined, the person that caused the accident will be responsible for damages. Damages mean the sum of money that is awarded in compensation to the victim after suffering injury or loss.
If it is a big accident involving a commercial vehicle, such as a big semi-truck or a commercial van, the process becomes more complex. In addition to the various laws that all vehicles have to abide by, these vehicles also have federal and state regulations.
This will dictate how long someone can drive, for example, before they have to take a break. It also weighs in on how heavy a truck can be or how often maintenance is required.
With these types of things as crucial parts of the safety of the driver and vehicle, they have to be taken into account when determining fault.
Commercial trucks generally will have a higher minimum insurance policy limit. This means that people injured or killed in a crash with these types of vehicles may get a larger settlement.
Multiple Parties Involved
If there are multiple parties involved that share liability, the negotiation of a settlement becomes even more difficult. A victim might settle with one of the people and then file a claim against the other people for the balance of the additional damages.
In these cases, going to a trial is going to be more likely. In the trial, there is an extra level of risk for settlement since the jury evaluates the claims and decides how much money should be awarded for injuries.
You may end up with a larger or a smaller settlement.
Typical Size of a Settlement
Damages in a car accident are going to be various and will depend on the particulars of that specific accident.
Things that impact the amount in a settlement include:
- Type and degree of negligence
- The severity of victim injuries
- Victim’s physical limitations
- Emotional distress and pain
- Injury impact on the victim’s life
- Amount of medical bills
- Amount of lost wages
Car accident attorneys will attempt to negotiate a settlement with the insurance company and will work hard to gather needed evidence and information to support their client.
Medical bills, photographs, testimony from witnesses, and other records may be needed to make sure the attorney has everything they need.
Reach Your Settlement Today
Now that you better understand how much to expect from a car accident settlement, you may feel that it is time to get started with your legal process.
If you’re ready to get some help following the car accident, we would love to offer some professional consultations and guidance for you.
Our team is ready to assist you with your legal situation and help you to get the settlement you deserve.