What is the Average Settlement for a Car Accident?

Car accidents happen all the time, but they might not be something that you really think about until you experience one yourself. One of the first things on your mind after an accident is probably going to be how you’ll recover from it and the financial toll it will have on you. You’re likely wondering, “what is the average settlement for a car accident?”

There is no easy way to answer this as there are no boilerplate formulas or comparison examples. Car accident settlements vary greatly based on the facts of the crash, the medical treatment required, and coverage. The short answer is that there is no average settlement or formula for settlement in a car accident injury case.

It’s important to gather information with your attorney when evaluating what your accident is potentially worth so that you can receive the right amount of compensation for the damages. The best way of knowing for certain what compensation you deserve for your car accident is by discussing your situation with a car accident lawyer in St. Louis, MO.

How We Determine Where to Begin Negotiations

Car accidents vary greatly from one to another, and many details can affect compensation. A good place to begin assessing numbers is by looking at the cost of the economic damages, the actual financial damages you’ve faced, including medical bills and lost wages. It’s a beginning, but it does not entirely represent the value of loss, including non-economic factors such as time and pain, and suffering. Each case is different, so even if a friend or family member has been through something similar, their experience may be very different from yours.

Again, a personal injury lawyer who specializes in car accidents will know exactly how to help you advocate for what you deserve, but there are a few things they’ll look into regarding your case. Here are a few factors that may affect how much compensation you receive for the accident.

Medical Treatment

The cost of your medical treatment is one of the first things you think of following the accident. Those injured in car accidents can end up with extremely expensive medical bills that many people would be unable to afford on their own, even with health insurance. Not only do they have immediate and past medical bills, but many also need medical treatment for the foreseeable future. Your medical bills and the estimated cost of your future treatment and care need to be considered for you to receive adequate compensation.

Impact of Injuries on Your Career

If you were injured in the accident, there’s a chance it could be affecting your job. This can depend on how severe your injuries are, the type of job you have, and your income. Many have to miss time from work due to their injuries and may lose their income for long periods of time. Like the cost of your medical treatment, you may also have to consider the amount you’ll lose in the future. Even if you can continue working, you may not be able to do the same job and may have to accept lower-paying positions or need to be retrained in a different vocation. Some may not be able to return to work at all depending on their injuries and career.

Non-Economic Damages

Damages like medical bills and lost wages have a dollar amount associated. However, not all damages that people face after car accidents are easy to see, like a medical bill. Some cases also involve non-economic damages, which are the losses one experiences that don’t impact their finances directly. While damages are often not easy to document, they still negatively impact a person’s quality of life. This can include damages like loss of enjoyment or pain and suffering.

Get Help Receiving Compensation for Your Car Accident

The initial offer that one receives from an insurance company often isn’t enough. You might feel like you have to accept what they offer you, but you should seek an expert opinion of an attorney. You should remember that the primary goal of an insurance adjuster is not necessarily to be certain that you are fully compensated. At The Cagle Law Firm, we understand that the results of your case usually have a long-lasting impact on your life. When you are injured, an experienced car accident attorney can make a significant impact on the compensation results you are able to obtain.

Contact The Cagle Law Firm toll-free at (1-800) 685-3302 or locally at (314) 276-1681 to speak with a car accident lawyer who knows how to fight for the compensation you should receive.