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How Much Money Can I Get From a Car Accident Settlement?

If you have been in a car accident, you are likely wondering how much money you will be able to recover. You may have expenses for fixing your car, or buying a new one if yours is totaled. You may have to have your car towed, store it at a tow lot and rent a car until you can get yours fixed. You may have medical expenses and recommended treatments not covered by your insurance. You may be in physical pain and have headaches or difficulty sleeping. You may also experience emotional, mental or psychological damages such as anxiety as a result of your accident. Furthermore, you may need to take time off work due to your injuries or treatments, you may have lost wages and a disruption to your life due to all of your doctor’s appointments.

The best way to make sure that you are compensated fully for all of your damages from the accident, including those “general” damages listed above that are hard to assign a value, is to seek the advice of the car accident attorneys at Van Law Firm.

Car Accident Settlement Value

The average settlement for car accident personal injury cases in the United States is $19,000. However, this number is only an average. Because every accident is unique, the average settlement value is not a good predictor of the compensation that you will receive. The best way to determine how much your specific settlement will be is to look at statistics and similar accident settlements.

Settlements will vary greatly depending on the types of injuries that you have. Wrongful death and catastrophic injury cases generally have a higher settlement value than those cases with less severe injuries. Catastrophic injuries include those such as: spinal cord injuries, paralysis, severe burns, loss of eye(s) or loss of sight, vertebral fractures, internal bleeding, ear injuries or loss of hearing, fractured back and major head injuries.

Moderate injuries such as herniated disc and other disc injuries will be worth less than those listed above. Less moderate injuries such as injuries to the feet and ankles, knees, shoulders, arms, fingers and hands may be worth even less.

Settlement Formula

It is important to remember that any numbers that you find online or through word of mouth for “average” settlements are indeed just averages and don’t reflect the actual value of your individual case. The best way to get an estimate of the actual value of YOUR case is to speak with an experienced personal injury attorney such as those at Van Law Firm. Consultations are always free.

All the following will be added together in order to come up with a number for your settlement:

  • Past Medical Bills
  • Future Medical Bills
  • Past Lost Wages
  • Future Lost Wages
  • Pain and Suffering Damages

Typically pain and suffering will be worth the greatest amount of damages in your case. Pain and suffering damages are always open to negotiations. However, they ultimately will be awarded as a “reasonable” amount of damages. Factors that go into calculating an award for pain and suffering typically include the seriousness of the accident, the extent of the injuries and the amount of the medical expenses. Pain and suffering damages are often awarded as a multiple of the medical bills, anywhere from 1 – 4x the cost of the medical bills.

How Much of the Settlement Will I Get?

All of the costs and fees that have been generated in the negotiation of your case will be paid out of your settlement. This includes your attorney fees and also the costs of your outstanding medical bills. The remaining amount is paid directly to you.

Our best way to ensure that you are getting the most compensation possible for your car accident settlement is to call the experienced settlement attorneys at Van Law Firm. Our attorneys can further advise you about how you can get the most compensation for your car accident claim. Call (725) 900-9000 today for a FREE consultation and to learn more about what Van Law Firm can do for you.