7.8 C
New York
Tuesday, Jan 31, 2023
Image default
Auto

Average Car Accident Settlement Amounts

Did you know that an average of 6 million car accidents happen each year on the roads and freeways of the United States? No one plans on getting in a car accident, but it’s vital to know what to do and how to proceed after you’re involved with one in order to get the best car accident settlement. The other parties involved are going to look for ways to pin the blame on you.

Suing for a car accident is an option if you know that you weren’t at fault, and a car accident lawyer would be happy to represent you if you have a strong case. The good news is that you’ve found the perfect guide to learning more about car accident compensation.

Keep reading to learn more today!

What Is the Average Car Accident Settlement?

The most important factor that determines the average car accident settlement is the injuries involved for you or the other parties. You can expect to receive a much larger car accident compensation settlement if you’ve suffered injuries as a result of your car accident. If you’re injured in a car accident then you can expect a settlement north of $40,000 for your injuries and damage.

Car accidents that don’t include serious injuries tend to receive smaller car accident settlements. A non-injury car accident tends to involve a settlement between $10,000 and $15,000. This includes self driving car accidents.

Factors for Car Accident Compensation

The car insurance coverage that you have will play a big role in determining how much of a car accident settlement you receive. The majority of states in the United States have a minimum coverage amount of around $25,000 per person. The settlement process involves a ton of involvement from car insurance companies, so getting better coverage will result in a bigger settlement.

The liability in a car accident is another key factor to consider. If you’re the responsible party for an accident then your insurance company will owe money for damage, injuries, and lost wages. Car accidents where you’re not liable will have the insurance company of the liable party paying you.

Another thing to consider when it comes to the amount of money that you receive from your car accident lawsuit is the severity of your injuries. Serious injuries are likely to result in much larger settlements.

A serious accident could lead to experiencing severe trauma and suffering. Accidents like that will result in much more car accident compensation, especially if the medical bills pile up.

Get the Car Accident Settlement That You Deserve

Getting in a car accident is a traumatizing experience, but you need to look out for your own best interests and hire a car accident lawyer. You can get a settlement north of $40,000 from your car accident lawsuit if you’ve experienced injuries and the other party is at fault. Your insurance will also play a big role in determining your car accident compensation.

Check out the rest of our blog if you’re seeking more engaging and helpful content!

Related posts

3 Ways to Fast-Track Your Career in the Trucking Business

VWB Blog

Driver Safety: 8 Common Causes of Car Accidents

VWB Blog

A Complete Guide on What to Do After a Fender Bender

VWB Blog