What Is The Average Settlement For A Car Accident?
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What Is The Average Settlement For A Car Accident?
Speak with a Top Attorney RIGHT NOW: 417-815-3294
If you’ve been in a car accident, you might wonder how much you can expect to receive as a settlement from the insurance company. In fact, a common question we receive is, “what is the average settlement for a car accident?” We wish this was an easy question to answer, but the truth is, it depends on several variables.
Car accident statistics show the annual cost of car accidents in the United States is around $242 billion. Car accidents range from very minor (with little to no injuries) to extremely serious, resulting in life-long disabilities or even death. As personal injury lawyers, when calculating a client’s insurance claim, we must consider many different factors that depend on the victim’s damages and personal experience.
Key Factors That Determine a Car Accident Settlement
The two main facts that matter when calculating a settlement after a car accident are:
- The severity of your injuries and
- The amount the insurance company is willing to pay on your claim
If you did not have very serious injuries, your chances of a large settlement are unlikely compared with someone whose injuries greatly impair their quality of life. (However, that doesn’t mean you should give up filing a claim if your accident was minor. You may still be entitled to compensation for your injuries.
You should also know insurance companies do not like to pay out much for personal injury claims—no matter how large or small they are. They will look for ways to deny your claim or lowball you on the settlement, so having strong evidence of the accident, the other driver’s fault, and your injuries is key.
So, What is the Average Settlement for Car Accidents?
As you might have guessed by now, it’s not easy to give an average settlement amount for car accidents. Besides each case varies greatly, it’s also difficult to produce a number because most personal injury settlements remain private.
However, survey stats from Martindale Nolo Research show the average compensation for a personal injury claim at $52,900 with settlements and awards ranging from $3,000 to $75,000. As you can see, this number may vary a lot depending on the details of your case and whether or not you seek professional assistance.
Speaking of professional help, hiring a good lawyer can also crucially impact the outcome of your car accident claim. This makes sense, as lawyers are skilled in building a strong claim and negotiating for a settlement that is actually fair.
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