Published On: Mon, Oct 19th, 2020

What Is the Max You Can Get From a Car Accident Settlement?

Settlements are going to vary widely, depending on the specifics of the case and the extent of damage and injuries. The stronger your case is, the higher the settlement offer will likely be as well. Your state’s laws will also affect the amount of your settlement. For example, in a comparative fault state the damages will be based on the percentage of fault. 

On average, car accident settlements tend to be in the $15,000-$30,000 range across the US. It entirely depends on the damage to your car, and/or the injuries you’ve sustained, how much your treatment cost, and what the negative implications of the injuries have been on your life. 

Car accidents are traumatic experiences that can range in severity from a bit of a drag to a deadly incident. Six million car crashes occur each year in the US. Although most are minor, crashes are responsible for approximately 38,000 deaths every year. Safe driving habits are always a priority when you’re on the road, but unfortunately, accidents happen, even to the safest of drivers. 

How do I know if the settlement offer is a good deal? Can I do better in court?

Because of limit of liability, and knowing that it is unlikely your settlement offer is going to exceed $25,000 or $30,000, you might find that after adding up all the costs, you are so much in the red that a lawsuit is the best option. There are still some other factors to consider. Even if you do win damages in court, it’s possible that the compensation awarded by a judge or jury won’t be as high as what was initially offered by the insurance company as a settlement. But once that’s the case, you are stuck with the court’s judgment. 

On top of that, if the person you are suing does not have much in the way of financial assets, it will be very difficult for you to receive court-awarded damages. The person you’re suing may simply not have the money. This is also something to keep in mind when you’re deciding whether or not to accept a settlement offer. 

Before you accept any settlement, you should have a lawyer go over it to make sure you’re getting enough compensation to cover the full value of your damages. You can follow this link to get an attorney’s help to manage your claim. An attorney can also tell you what kind of evidence you’ll need to prove fault. Remember, the more compelling your evidence is, the higher your likelihood of success will be. 

Once you’ve consulted with an attorney, they will help you calculate all of your damages, including costs that you may not have thought of, such as wages lost or the pain and suffering you’ve incurred from the accident and your injuries. From there, you can make a plan about how to proceed.

What should I know before I accept a settlement offer?

If at all possible, you should never speak to the at-fault party’s insurance claims adjuster without your attorney being present. Even better, have your lawyer speak to the insurers for you. An attorney has experience with insurance companies, and they know the tricks they use to pay out less than the injured party needs for their full recovery.

An attorney can increase your chances of being able to avoid court, and they may be able to get you a significantly larger settlement than you could have negotiated on your own. It’s worth taking the time to schedule a consultation if you’ve been injured in a vehicle accident. 

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