Car Accident Lawsuit Settlement Amount

The busiest country in the world, in terms of traffic, is the United States. According to the statistical information, in the US, approximately 280 million vehicles are operating on the roads, and similarly, 227.5 million people carry a driving license. As per these statistics, the risk of accidents directly increases; thus, car accidents in the US are severe, according to the traffic department’s records.

Though they provide a great extent of road traffic facilities to the public, it still holds the most road traffic fatalities (per one million population).

Bumping into this daunting trouble of car accidents in the US is common. However, if you know the lawsuits, their terms, and rules, it will not be a hassle for you. We have to go through extensive medical bills, workshop bills, insurance payments, and a wicked episode of emotional trauma whenever we are involved in a car accident. The major distress is that it ends with the problems you have never imagined before.

In this situation, money is the last thing that comes to your mind; your priority is physical health. While you deal with medical bills, it will be feasible for you to be aware of the car accident lawsuit settlement amount.

You can reimburse the amount through car settlement, as it can compensate your lost wages in a day, psychological trauma, and car replacement cost.

It is complex to get an average level of car accident settlement that matches your case, as every case is unpredictable and unique. The amount of settlement varies according to the damage.

The Severity of the Accident

he car accident lawsuit settlement amount largely depends on the severity of the crash, which determines the value to be paid by the government. . If there is a serious accident like a wrecked car or any person’s death, it will definitely not be minor damage. Similarly, a severe injury like long-term damage, including disability, etc. would give you the right to file a car accident lawsuit.

In the U.S, a severely affected victim, if file a lawsuit, can receive a significant amount as compensation, though it can be possible with an efficient attorney. A sharp lawyer who can convey all important points and evidence to the judge or jury can easily maximize the amount of award.

Court Trial and Settlement

You can assess your car accident lawsuit settlement amount through a common factor that the claim you have presented must deliver a justified result through a settlement, or you have to go to the court. However, it will cost the person to probably double that settlement, along with extensive court hearings and repeated dates.

Damages to face expectedly

There are two main categories of damages that the insurance companies will consider instantly during settlement. The types of damages you can face in a car accident are:

– Wrecked vehicle

– Medical bills

– Physical and psychological disturbance

– Disability

– Lost of wage and income

– Death

To determine the car accident settlement amount, you need to consider these factors:

– You must prove the damage to claim a value against your accident.

The government is compensating some damages as per laws; perhaps, you have to show the actual damage done by the other party’s negligence.

This compensation aims to fill up the victim and refresh their financial position back to normal.

Special damage

Quantifiable damages will be compensated. The victim has to prove the damages by presenting the bills, paid cheques, your salary, the wages you have missed due to injury, working hours, designation, and a letter from your employer.

Some damages are provided to the victim as a punishment or a penalty instead of compensation. These damages will be awarded if the person claiming the accident proves and convinces with the help of evidence that the injury has been done as a result of fraud, negligence, or malpractice. For example, if a person got injured or hit by a drunk driver, he/she can claim for punitive damage for car accident settlement.

You will have to file a lawsuit; the case will then be presented to the trials. The compensatory amount will be equal to or greater than;

– Two times the amount of financial damage

– The amount not exceeding $750,000.

You can easily reimburse the funds that you have already paid out. While it’s complex to claim a fair price for the pain and suffering you have been through. To determine the settlement, it is advised that the total amount will be 3x more than the cost of medical bills. Perhaps, various factors are utilized to decide the average minimal and maximum settlement of a car accident as per lawsuit.

Besides that, there are two methods to calculate the portion of the settlement:

Multiplier method

The insurance companies use the multiplier method to calculate the sufferings through an algorithm under certain scales, which are kept confidential. This method is used by a car accident attorney to determine the dollar amount of pain and suffering.

Multipliers of 1.5 to 5 are used in the algorithm, with 1.5 being the least injured and 5 as the highest injured.

Per diem method

This method helps to determine the damage done in an accident through different tools. It also calculates the loss through pain and suffering. However, the factors through which they assess are the number of days, months, and hours. These figures are multiplied by a specific dollar figure, which equalizes the amount of pay the victim has lost from their job during that time period.

According to the courts of Texas, “through fair points and rational approach for pain, the way the victim has faced month by month, hour by hour.”

The judge will consider the severity of injuries, the treatment plan used, the time period applied for the therapy, and asset loss. Most of the time, the settlement offered after the completion of medical treatment. In the case of permanent damage, the car accident lawsuit settlement amount is more than usual.

Car accident lawsuit settlements are not fixed. Many variables are involved, and every victim has to go through a different physical and mental breakdown. Even two people traveling together, when injured in the same car accident, will most probably face different situations in the following manner:

• Length of time in the hospital
• Cognitive, physical, and behavioral impairments
• The time needed for recovery
• Interference with their ability to work
• Types of rehabilitative therapy required
• Permanent disability or scarring
• Emotional impact

For example, you have an accident because of someone else’s fault and have fractured your arm. The entire medical bills are $5000, and you have to be admitted to the hospital for 5 days, and your wage rate is $3000 per day, which means you have lost $15000, and a total of $20,000 due to a car accident done by another person.

The insurance company will look into the entire list of expenses, the pain and suffering you have been through; they will consider the most important events. Further, they will work on them according to the methods and criteria discussed above. According to their calculations, you will be paid. But if you hire a good attorney, you can get more and deserving amount.

Car accidents are traumatic for the victim. But in the case of insurance companies. They will assess the evidence presented in terms of severity, pain, and suffering they have gone through during the entire time period. However, a minimal time period is usually considered by them. Keep in mind that the insurance companies treat the customers just like another case, so you have to be dedicated and sharp to provide all details in a documented form and keep a check as much as possible. The smallest mistake can weaken your case and minimize the amount. Moreover, you need to hire lawyers and file a complaint. Look for the best car accident attorney in your area who will work on your case with dedication and get you the compensation you deserve.

The rate of road traffic fatalities in the United States per 100 million annual vehicle miles traveled remained equal between 2015 to 2018. Around 1.13 million traffic fatalities have been witnessed per 100 million VMT. This proved to be a decreased amount compared to 1.16 million traffic fatalities per 100 million in the early 20s and late 19s.