If you’ve been injured in a car accident, you might be wondering how much you can expect to receive in monetary compensation. It’s impossible to say, as settlement amounts vary greatly by case.
Severity of injuries and treatment time are the biggest factors in determining a car accident average settlement. Injuries that are serious or permanent will receive a higher payout than injuries that are minor.
Property Damage
Car accidents can cause a variety of damages to vehicles, homes, fences and other objects. Damages can include loss of use, replacement costs, and sentimental value.
While it may not be as important as injuries, property damage is another way a victim can be compensated for losses that result from an accident. Depending on the state, you may be entitled to compensation for this type of damage.
This type of settlement can help cover repair costs for your car, as well as personal belongings you had inside of it at the time of the accident. This includes things like laptops, books, mobile devices and child car seats.
Medical Expenses
Next to property damage, medical expenses are the biggest cost of a car accident. This is because a crash often requires hospitalization, surgeries, and rehabilitation.
When you file a claim for compensation, your attorney can determine how much of your medical bills should be paid from the settlement amount. In addition, your attorney can help negotiate with medical providers to delay payment until you receive compensation.
Your lawyer may also consider your future medical costs if you are injured and require ongoing treatment. For example, people who suffer spinal cord injuries or traumatic brain injuries may need long-term therapy and medication.
If you are suffering from debilitating injuries, your attorney can help recover damages for current and future medical bills, pain and suffering, and lost income. The amount of your damages will depend on the severity of your injuries.
Lost Wages
If you miss work as a result of your accident, you may be able to collect lost wages. These damages can be calculated using a variety of evidence, such as previous pay stubs or tax returns.
Losing your ability to earn a living can be a devastating financial loss, and can have significant impact on your household’s finances. This is why it’s important to have your case thoroughly evaluated by an experienced car accident lawyer.
In the state of New York, car accident victims are typically entitled to no-fault lost income compensation from their own insurance company. Those benefits can cover medical bills and 80% of a victim’s income for up to two years.
Pain and Suffering
Car accidents can cause both physical and mental pain that lasts weeks, months, or even years after the accident. This is why it’s important to seek compensation for pain and suffering.
The average settlement for pain and suffering can range from a few thousand dollars to upwards of $250,000 or $500,000. It’s based on the severity of your injuries, as well as their impact on your quality of life.
You can prove your pain and suffering through written statements from family members, friends, and helpers who describe how the injuries have affected your life. Medical records, photographs, and daily journal entries can also serve as evidence.
