There is no average Lyft accident settlement amount as each case varies. Many cases are settled privately, too, making it difficult to determine the average settlement amount.
There are many factors that can impact how much a successful claim is worth. A Lyft accident lawyer could help you identify your damages, calculate them, and pursue the liable party for the compensation you deserve.
Factors That Affect Settlement Amounts
Generally speaking, the amount of compensation awarded in Lyft accident cases is commensurate with the extent of suffering experienced. This means the more severe the injuries or losses, the more compensation you could qualify for as a victim.
An accident resulting in a total loss of a vehicle, or a permanent injury, for example, could result in more money for victims than an accident that caused minor property damage or injuries.
How Settlements Are Paid
If you are awarded compensation in a Lyft accident, there are typically two ways you could be paid.
Lump Sum Payments: Lump sum payments refer to single lump sums where all damages are paid to you in a single payment. This can be beneficial because you receive all your money up front, which can go a long way after a loss.
Installments Over Time: Another payment option is to receive smaller installments over time. This could be helpful if you are trying to budget over a longer time period with financial goals in mind. Additionally, this form of compensation can result in more money over time.
There is no right answer about how you should choose to receive compensation if you win your case. A lot of your decision is based on personal needs. Because this can impact your life, it could be wise to consult a financial professional when weighing your options.
Recoverable Compensation
Depending on the specifics of your case, you could receive compensation for the following:
- Property loss
- The emotional trauma of your accident
- Legal expenses you paid while filing your claim
- Physical injuries
- Lost wages if your employment was affected
- Diminished earnings
- Wrongful death damages, including funeral and burial expenses, loss of financial support, loss of guidance and companionship, etc.
- Pain and suffering
- Lower quality of life
- And more
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Why Rideshare Accidents Are Unique
Accidents involving rideshare companies like Lyft are different from other types of motor vehicle accidents for several reasons.
One reason is there are many more parties involved than in a typical accident. The Lyft driver, the company of Lyft, one or more passengers, and third-party vehicles could all be intertwined in a legal battle to determine who is responsible for an accident.
This can be further complicated by insurance changes occurring during the rideshare process.
Understanding Rideshare Insurance
Because Lyft vehicles are generally personal vehicles temporarily used by Lyft while the app is active, navigating insurance is difficult. It is important to understand how Lyft insurance works because it could directly impact your claim.
For example, if the app is not turned on, a rideshare driver might rely on their personal insurance for coverage. Once the app is on and a ride is initiated, specific coverages are in play while waiting for passengers. Coverage amounts can be different than when a passenger is in the car. So, if an accident occurs while waiting, a smaller policy covers these claims.
Navigating the complexities of rideshare insurance is difficult, but a lawyer may be able to help. In any case, if you do not receive what you deserve for your losses, remember you have legal options.
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Determining Liability
Determining liability is crucial if you want to win your case. Examples of how a third party could have been liable in your Lyft accident include but are not limited to:
- Reckless driving
- Inexperienced drivers working for rideshare apps like Lyft
- Driving under the influence of alcohol
- Failing to obey traffic laws
- Mechanical malfunctions, possibly due to negligence
- Speeding
- Distracted driving
- Much more
If you hire a lawyer, they could investigate the accident, identify the liable party or parties, and seek compensation on your behalf.
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A Lawyer Could Help You Win Your Case
If you decide you want to file a claim, hiring a lawyer to help could be worth your while. There are several ways lawyers could be beneficial to you, including:
- Assisting you with filing paperwork
- Offering general support and guidance
- Answering your questions
- Collecting evidence
- Interviewing witnesses
- Helping you understand every step of filing your claim
- Allowing you to manage your expectations for compensation
- Preparing you as you and your lawyer potentially face the legal team of a big corporation
- Much more
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Contact Us Today for a Free Consultation
If you are ready to learn more about your legal options following a Lyft accident, contact our team at Laborde Earles Injury Lawyers for a free consultation. You do not have forever to file a claim, so take action now before it is too late.
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