EnglishSpanish

What Are Typical Car Accident Settlement Amounts?

Average settlements in car accident claims range from numbers in the thousands, tens of thousands, and sometimes millions. This depends on the injuries suffered, the cause of the accident, and who is held liable.

While typical car accident settlements vary, what is clear is that hiring an attorney to represent you greatly improves your chances of securing a settlement. Additionally, that settlement amount increases by an average of 300%.

The attorneys at Falcon Law Firm can be reached online or by phone at (732) 660-1200. Let our experience in handling car accident cases be of great value to you and your family.

What Is an Average Car Accident Settlement?

Car accident collision claims for property only can be in the low thousands, while the claims for bodily injury average above $15,000. Catastrophic injury and wrongful death claims can get into far higher numbers, hundreds of thousands to multi-million dollar cases.

It’s difficult to pinpoint one number or even a range of amounts for how much to expect from a car accident settlement. Averages vary year to year, and can be pulled in skewed directions by one unusually low or high result. 

If you want to know what your car accident settlement could be worth, ask yourself:

  • Bills — How much did your medical bills cost? This number is added up from co-pays, out-of-pocket expenses, and other recovery items like pharmaceuticals, mobility aids, and/or physical therapy.
  • Wages — How much time and money did you miss from work? This can include sick and vacation time eaten up in dealing with the accident, lost wages, missed advancement opportunities, skipped contracts (including for freelancers), and lost employment.
  • Pain — How much pain and suffering did you experience? A car accident can easily cause physical pain ranging from discomfort to agony. Crashes also frequently lead to psychological trauma like stress, panic attacks, or bereavement if you lose something or someone irreplaceable.
  • Punishment — Did the other driver act irresponsibly? If the cause of your accident was due to another person’s negligence or recklessness, they may be ordered to pay more as punishment (aka punitive damages). An example of this is in cases of DUI or distracted driving.

Once you’ve asked yourself these questions, call a Falcon Law Firm car accident attorney at (732) 660-1200 to ask us what we can do for you. In answering your questions, we can begin to build your case, prepare all the necessary documents, and help you secure the fair settlement you deserve.

Your likelihood of securing a settlement with a personal injury attorney is 96%, and the settlement amount averages 300% higher than unrepresented claims.

How Long Does a Car Accident Settlement Take?

Once again, there is no clear average timeframe that can answer this question for you. Speedy pre-trial settlements don’t happen in all claims, and they usually happen when both parties don’t want to drag the process out through a full trial. Importantly, according to the Bureau of Justice Statistics, claims that are represented by a personal injury lawyer result in settlements 96% of the time.

Basically, when you walk in with an experienced attorney, you are far more likely to walk out with a swift, satisfactory settlement than if you filed your claim independently.

As far as the timeline of car accident settlement or verdict results, the factors involved include:

  • Quick negotiations: Your lawyer will gather evidence of your accident and who caused it, and may be able to use that information to negotiate a fair settlement with an insurance company in a relatively short period of time.
  • Reasonable settlement agreements: If the negotiations stall, your attorney can file a lawsuit. Often the official filing of a suit brings the parties involved back to the table to agree on a settlement before going to trial.
  • Efficient trials: If the settlement offers are insufficient, the lawyers at Falcon Law Firm have no hesitation about taking your case to trial. In many instances, settlements are reached before a verdict is made. If the trial does continue to a verdict, there may be even more compensation available to you, rewarded at the judge’s discretion (like punitive damages ordered from those who were found to be in the wrong).

Rest assured that court officials and judges do not want their time wasted any more than you do. If the other side’s counsel or insurance representatives intentionally try to frustrate negotiations by stalling, they risk being punished by a judge. 

Your attorney from Falcon Law Firm will work to get you a prompt, fair settlement if at all possible. We are also happily prepared to see your case through to the end no matter what. Regardless of whether settlement or trial is involved, we aren’t finished with a case until your needs are met.

Contact Attorneys Experienced in Car Accident Settlements

Car accidents occur every minute of every day on average, to the tune of over 5 million accidents per year. A significant portion of those accidents cause severe injury and death, and every single one of them costs resources that could be better spent: time, money, and energy.

Falcon Law is a personal injury firm that takes your injuries personally, whether they are physical, psychological, or financial. Though we can’t undo the consequences of a car accident, we do work tirelessly to see that our clients recover the maximum amount that is available to them in compensation. 

Reach out to us via our online contact form, or by calling (732) 660-1200 at your earliest convenience. We know you and your family’s health and safety is worth more than the bare minimum. We will work to secure the settlement you deserve as soon as you reach out to us.

back to top button