The average settlement for a car accident might be difficult to determine because each injured party may be entitled to different types and amounts of financial damages. For example, a driver and passenger who are occupants in the same car involved in an accident might have injuries of varying severity. In addition to their medical bills, their income loss may vary greatly, as might the amount of property damage each injured party experiences.
Because the variables that go into calculating your potential settlement can vary greatly, your potential settlement may also vary greatly. You do not have to measure your injury-related financial expenses and losses on your own. A car accident lawyer can help you carefully calculate your specific damages and seek adequate compensation in your car accident case.
Your Case File May Substantiate Your Recoverable Damages
In recent years, Centers for Disease Control and Prevention (CDC) data put the annual cost of car accidents that resulted in injuries and fatalities at $75 billion for medical expenses and productivity loss. If you were injured in a car accident, you might incur expenses, including:
- Loss of current and future income
- Current and ongoing medical care
- Physical and mental pain and suffering
- Property damage or destruction
- Lasting physical disabilities
These damages and any others that result from your car accident may be recoverable by filing an injury lawsuit against the at-fault driver. A personal injury lawyer can track and review all expenses before assigning a monetary value to your car accident lawsuit.
Income loss after a car accident may include money you would have earned from your part-time and full-time job. It might also include money you would have earned from freelance jobs, gig-economy jobs, such as rideshare driving, or temporary jobs that supplement your income.
The at-fault party’s legal representative may request proof of your lost income, which can include direct deposit receipts, personal and business tax records, client invoices, and other paperwork documenting your income loss.
A car accident might leave you with a wide range of medical expenses. The at-fault driver might be responsible for the cost of your accident-related medical care, including emergency, ongoing, follow-up, therapy, and rehabilitation expenses.
Medical expenses may also include over-the-counter and prescription medications, in-home medical assistance and equipment, and any necessary assistive medical devices like crutches or wheelchairs. This process by itself may be complicated to handle on your own since it may require gathering information from each health care provider, facility, referral, and pharmacy that treated you after the accident. Your lawyer might be able to help you prove the cost of your medical expenses by assisting you in gathering your medical records and bills.
Pain and Suffering
Along with mental and emotional trauma, pain and suffering includes the immediate and long-term effects of your car accident injuries. Their value might be calculated based on the severity of your injuries, how they impaired your physical ability, and how they changed your appearance and your ability to enjoy the same social, personal, and professional activities you engaged in before the accident.
Pain and suffering and mental and emotional trauma can be challenging to quantify on your own. A personal injury lawyer can help you establish the monetary value of these non-monetary damages.
Property Damage or Loss
The at-fault driver or their insurance company may be responsible for restoring your car to its pre-accident condition or replacing it altogether. Assessing the value of the property damage portion of your car accident lawsuit might be more complex than you think. You have the right to choose where to have the repairs made on your car.
According to the Insurance Information Institute (III)’s guidelines, if the cost of repairing your car will surpass its current value, the at-fault driver’s insurer may call it a total loss. If that happens, they will pay to replace your vehicle versus repairing it. The replacement value may be based on respected pricing guides such as the Kelley Blue Book or NADA (National Automobile Dealers Association) Guides.
Let Our Lawyers Help You Fight for a Favorable Car Accident Settlement
Because each person injured in a car accident may have a unique set of financial expenses and losses, it is difficult to determine what the average settlement for a car accident is. Our injury assessment team can help you determine the financial value of your specific compensation package. Contact an attorney today at (337) 777-7777 to start creating an accurate valuation of your car accident damages.