If you have been injured in a car accident, you may be asking yourself, “How much should I ask for in my car accident settlement?” You want to make sure the value of your claim covers the damages you suffered so that you are able to pay pending medical and repair bills and recover lost wages you may have suffered as a result of your injury.
How much a car accident claim is worth varies from case to case. Still, many injured victims look for an average car accident settlement amount to get an idea of where they stand. Here is what you should know about the average settlement amount received for a car accident.
Average Car Accident Settlement Amounts
Car accident settlement amounts range greatly, with the average falling somewhere between $3,000 and $75,000. This is because the amount recovered is based on numerous factors unique to every case.
The damages claimed in a car accident can greatly influence your final settlement outcome. These include property damage, medical bills, lost wages, pain and suffering, and more. For example, a car accident that only results in property damage may settle for a few thousand dollars. On the other hand, a case that leaves the victim with life-altering injuries will settle for much, much more.
Another factor that can affect your car accident settlement is how the accident occurred. If your accident was the result of ordinary negligence, you will only be able to recover actual damages (i.e. damages meant to compensate you for your losses). However, if it is determined that your accident was the result of gross negligence, you may be able to seek additional compensation to cover what a jury may have awarded in punitive damages.
While most car accident settlements will fall between the very high and very low end of average settlements, there are also outliers that can settle for millions of dollars. This fact is demonstrated by some of our recent results. In these instances, it is best to work with an experienced attorney.
Will My Car Accident Case Settle for the Average Amount?
You should never assume to know the value of your claim without speaking to a car accident attorney.
The damages mentioned above only represent a fraction of the damages you may be able to claim for your car accident. An experienced lawyer will help you identify and evaluate all damages available to you based on the events and outcomes of your accident. This includes economic and non-economic damages.
How Will My Attorney Determine the Value of My Car Accident Settlement?
To determine the value of your car accident settlement, your attorney will look at all of the components that make up your case. These include factors like:
- How much are your medical bills? You deserve full compensation for all medical bills associated with your car accident. Typically, the more medical bills you have, the more your settlement can recovery.
- How much income did you lose? If you were unable to work, you can claim your lost income in your settlement. The more income you lost, the more you can seek your settlement. You can also claim vacation or paid time off you used to cover missed days as lost income.
- How serious are your injuries? More serious physical injuries result in more pain and suffering. The greater your pain and suffering, the more financial compensation you deserve for your car accident.
- Are your injuries permanent? Victims who suffer from long-term or permanent injuries typically receive a higher settlement than a victim who recovered quickly.
- Did you partially at fault for your car accident? Texas personal injury works on a comparative fault standard. This means if you contributed to your accident, you will recover less than you would if you shared no fault for your crash.
- How much is the responsible party able to pay? It is easier to recover damages for a car accident where an insurance policy can cover your damages than if the at-fault party is paying out of pocket. Additionally, a commercial entity like a trucking company will have larger policies than regular drivers as truck accidents tend to result in more serious damages.
- How did the crash occur? Whether your car accident was the result of ordinary negligence or gross negligence can greatly affect how much your settlement is worth. For example, a drunk driving crash may recover more than a crash related to an unsafe lane change as a drunk driver could be determined to have acted with gross negligence.
- How strong is your car accident case? If your attorney has worked to build your case in a way that demonstrates fault and the value of all of your damages, you are more likely to recover a larger settlement than if you tried to pursue a settlement alone.
Texas Car Accident Settlement Attorneys
If you are wondering what your car accident case is worth, you should speak with an experienced attorney. At Thomas J. Henry Law, we have lawyers standing by 24/7 to help injured victims. We offer FREE case reviews and work entirely on a contingency fee basis. This means you pay nothing unless and until we win your car accident case.
Our car accident lawyers can help you determine your best course of action and guide you through the settlement process.