car accident settlement
Halt | July 18, 2022 | 0 Comments

What’s the Average Settlement for a Car Accident?

Were you recently involved in a car accident? Were you at fault in the accident?

There are about three million injured US citizens every year due to car accidents. Whether you were the driver or a passenger, you most likely had some major expenses due to the accident.

There is always a chance of a car accident case getting settled. When this happens, there is an average settlement amount that you might receive.

In this article, we will take a look at how average car accident settlements work, who determines the amount, and why they are determined. We will also tell you how the accident may, or may not, influence the settlement.

Property Damage

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When it comes to property damage, the average settlement is typically around $3,000. This figure can be higher or lower depending on the extent of the damage.

It can also depend on any secondary costs, such as repairs or medical bills. Also, it is up to the insurance company to determine the final settlement amount. So it is important to speak with an experienced car accident lawyer to deal with your case.

Severity of Accident

The average settlement for a car accident will vary depending on the severity. The average settlement would be between $3,000 and $5,000 for minor accidents. Also, if there’s no damage to property or personal injury.

The average settlement would be between $15,000 and $30,000 for more serious accidents. Together with this are damage to property and personal injury.

With major property damage and personal injury, the average settlement is between $50,000 and $100,000

Injuries Incurred

Car Accident

Factors that affect the settlement are the at-fault driver’s insurance policy limits. It is whether you were partially at fault for the accident.

The amount will be largely dependent on the severity of your injuries and how long it takes you to recover. If you have only sustained minor injuries that healed, you’ll likely receive a small amount.

However, you can expect to receive a higher settlement if you have suffered permanent damage.

Insurance Policy

The average settlement for a car accident depends on the insurance policy. If you have a car accident claim that covers you for $100,000, then your settlement will be $100,000.

If you have a policy that only covers you for $50,000, then your settlement will be $50,000. It is important to speak with your insurance company to understand the settlement.

Both Parties are at Fault

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If only one party is at fault, the settlement is much higher. However, if both parties are at fault in a car accident, the average settlement is usually lower.

This is because both parties are seen as equally responsible for the accident. And neither party can claim that the other party is entirely to blame. The average auto accident settlement where both parties are at fault is around $5,000.

Dealing with Car Accident Settlement

It is difficult to know an average of car accident settlement because every case is different.

Several factors will affect the amount of money you receive from a settlement. Like the severity of your injuries, how great the property damage was, and whose at fault for the accident.

An experienced auto accident lawyer will help you get the best settlement possible. And it is mainly based on the specific details of your car accident lawsuit.

If you found this article helpful, head back to our other blogs. We have plenty of informative contents for you to enjoy!

Halt

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