In most states in the U.S., when drivers are involved in car accidents, it’s the person who is responsible for the accident who’s liable for paying the victim’s damages.
The actual compensation will come from the liable party’s insurance company. Typically, an insurer will make a settlement offer to the victim of the accident.
If the compensation is accepted, the case will be resolved.
However, insurance companies often try to pay out as little as possible for settlements. So, when victims believe the compensation they are offered isn’t fair, they can proceed with car accident lawsuits that are settled in a court of law.
Victims can gain the compensation they deserve to cover the costs of medical bills, lost wages, property damage, and other losses, such as pain and suffering.
If you’re unlucky enough to be involved in a car accident that isn’t your fault, you’re sure to want to know how much compensation you could potentially win. So, let’s explore the subject in detail.
How Much Compensation You Can Win Isn’t Straightforward
The thing is, the details of every car accident are different, so there’s no one-size-fits-all answer to how much you could be awarded in compensation after a road accident that isn’t your fault.
The settlement will be calculated based on the specific circumstances of the collision.
Whether you were partially at fault will determine how much you could receive.
Also, if the car accident only causes minor property damage, you would receive far less compensation than you would if you are injured in the accident.
And if you sustain permanent injuries, you could receive a higher amount than you would if you only have minor non-permanent injuries.
Examples of How Much Compensation You Could Win
While the exact settlement amount you could win is highly dependent on the precise nature of the accident, your injuries, and the damage that was caused, you can get a better idea of how much you could receive in compensation by looking at some examples.
According to the Insurance Information Institute’s recent report, the average claim for bodily injury after a car accident in 2020 was $20,235.
The average compensation for property damage alone was much lower, at $4,711.
However, according to a survey by Martindale-Nolo, car accident claims between 2015 and 2020 resulted in a higher average settlement of $23,900.
Though it’s not unusual for many victims of car accidents to receive less than $10,000, which is still a lot and is usually plenty to cover the costs of things like medical expenses and property damage.
Furthermore, if you hire car accident lawyers who’ll back you up, you can often expect to be awarded the maximum compensation possible.
That’s because expert personal injury lawyers who have a wealth of experience in car accident claims know how to best navigate the law, gather evidence, and make a solid case on your behalf to help you gain the maximum compensation you’re entitled to.
So, make sure you consult an attorney with the relevant skills and experience to stand a better chance of winning your case and being awarded more in damages.
Factors That Affect the Amount of Car Accident Settlements
As mentioned above, various factors will determine how much you can be awarded, but let’s look at those factors in a little more detail.
The type of car insurance that the liable driver has in place and the insurance company the driver is with can make a difference to the settlement offer.
Whether the driver is solely responsible for the car accident can also affect the level of compensation you could receive.
Furthermore, the state laws for specific states can impact the compensation you’re entitled to.
But two major factors that will always be taken into account when determining compensation levels are the financial losses you experience as a result of the accident and the severity of your injuries.