If you’re considering filing a lawsuit against an at-fault driver for a car accident, you might understandably want to know whether the ordeal will be worthwhile. Specifically, many new plaintiffs want to know the average settlement in a car accident lawsuit.
While there’s no such thing as an auto accident settlement formula — many different factors will play a role in determining how much to expect from a car accident settlement. With that in mind, here are some common questions people have about car accident settlements.
How Much Compensation Can I Expect To Receive?
Some plaintiffs see news stories about trial verdicts in the millions and assume they can recover a similar amount. However, it’s important to understand that these immensely high awards don’t reflect typical car accident settlement amounts.
The reality is that car accident settlements vary tremendously. Following an accident that causes minimal injuries and property damage, you might receive a few thousand dollars in compensation. If you’re hit by a semi-truck and left with a brain injury and partial paralysis, however, you could receive hundreds of thousands or even millions.
What Factors Can Influence the Value of My Settlement?
Because there are so many elements at play in car accident settlements, it’s impossible to give an exact value. These are some of the most important factors to consider:
The Nature of Your Injuries
The nature and severity of your injuries — and the cost of your resulting medical bills — is one of the most critical factors that will influence your settlement amount. Most accident victims have various expenses and economic losses to contend with. In many (if not most) cases, though, their medical bills are the most substantial economic hit.
The Value of Your Lost Wages
Along with medical bills, lost wages are among the most sizable economic impacts in any car accident case. If you’ve had to miss work for a substantial period of time, your salary or hourly wage can make a significant difference in your compensation.
Here’s an example: Imagine that your injuries caused you to lose three months of work. Assuming you typically work 40 hours a week, that would mean you missed 480 hours of work in total.
If you make $10 per hour, your compensation for lost wages would be $4,800. However, if you make $30 per hour, the amount would be $14,400.
Whether You Sought Prompt Medical Attention
Insurance companies rarely pay out on serious accident claims without a fight. They often look closely to find evidence that could be used against the claimant. For example, they might review your medical records after the accident.
Suppose they see that you immediately took an ambulance to the hospital; that supports your claim of serious injury. However, if you waited several days before seeing your regular doctor, the insurer might be able to get away with paying you a smaller settlement.
Whether You Sustained Permanent Impairments
If your injuries cause some level of permanent disability, you may be able to recover compensation for future lost wages and medical bills.
When determining the value of your non-economic damages, most insurance companies and courts will award greater compensation if you’ve suffered a permanent impairment or your injuries have a substantial negative effect on your day-to-day life.
The At-Fault Driver’s Policy Limits
Generally, you can only recover up to the at-fault driver’s policy maximum in a personal injury lawsuit. If your losses exceed their policy limits, you’ll need to file a claim with your own uninsured/underinsured motorist coverage or explore other potential avenues of compensation.
Do I Have To Accept a Settlement Offer?
Most personal injury cases settle rather than go to trial. A settlement is often preferable for both parties because it spares them the time, cost, and uncertainty of going to trial.
However, the fact that cases typically settle doesn’t mean you’re obligated to accept a settlement. Most experienced attorneys know that an insurance company’s first settlement offer is almost always inadequate. If a settlement is a viable option in your case, your lawyer will attempt to negotiate fair compensation with the insurance provider.
Will Working With an Attorney Lower My Settlement Amount?
Virtually all personal injury lawyers work on contingency. This means that you’ll pay nothing upfront. If your attorney wins your case, you’ll pay them a portion of the compensation you receive. A contingency fee is typically about a third of the recovered compensation.
Some people hear that and think they stand to save themselves thousands of dollars by representing themselves. While you have the right to represent yourself in court, doing so is never a good idea in a personal injury case.
Personal injury lawyers handle cases like yours regularly, so they understand how to investigate, argue, and negotiate with the client’s best interests in mind. In almost every case, working with a lawyer will result in greater compensation, even when you account for contingency fees.
Can I Recover Compensation if I Was Partially At Fault?
Georgia uses what’s known as a modified comparative negligence standard. Under this rule, you can still receive compensation as long as you are less than 50% responsible for your accident. However, the total compensation you receive will be decreased by your assigned percentage of fault.
This is one of the factors many people fail to account for when trying to determine the worth of their personal injury claim. If your degree of liability is closer to 50% than 0%, you may find your compensation reduced considerably.
Navigating the Car Accident Lawsuit Process
If you’re considering filing a lawsuit, you probably have many other questions going through your mind. A qualified attorney can answer those questions in greater detail and help you better understand the way the legal system works.
Pursuing a personal injury claim can be daunting, but for many accident victims, it’s well worth it.
Contact the Car Accident Lawyers of Spartan Car Accident & Personal Injury Lawyers in Atlanta for Help Today
For more information, please contact an experienced car accident lawyer at Spartan Car Accident & Personal Injury Lawyers to schedule a free initial consultation today. We have two convenient locations in Georgia, including Atlanta and Jonesboro, GA.
We proudly serve Fulton County and Clayton County, GA, and its surrounding areas:
Spartan Car Accident & Personal Injury Lawyers – Atlanta
139 Ralph McGill Blvd NE, Suite 301, Atlanta, GA 30308
(844) 772 7826
Open 24 Hours
Spartan Car Accident & Personal Injury Lawyers – Jonesboro
6909 Tara Blvd, Ste 200, Jonesboro, GA 30236
(678) 928-5051
Mon – Sun: 9:00am – 5:00pm