How Much are Most Car Accident Settlements?

Car accidents are life-altering events, generally resulting in car accident victims experiencing physical injury, emotional distress, and financial loss. If you've been involved in a car accident, you might be asking yourself, "How much are most car accident settlements?" It's a fair question, especially if you're attempting to get compensation for medical bills, lost income, and other damages.

To get through this frightening process, having a car accident lawyer in colorado springs could be the difference between finding out how much your case is worth and being offered a fair settlement.

Key Factors That Determine Car Accident Settlements

Car accident settlements are immensely varied from each other because each case is individual. But some fundamental factors usually determine the final settlement:

• The severity of Injuries: The severity of your injuries is a decisive factor in settlement estimation. Serious injuries such as traumatic brain injury, spinal cord injury, or fracture attract larger settlements since they have higher medical expenses and longer periods of care.

• Medical Costs: All medical expenses incurred previously, currently, and in the future due to the accident are considered. They encompass hospitalization, surgery, medication, physiotherapy, and all the rehabilitation needed.

• Lost Wages and Loss of Earning Capacity: If you cannot work as a result of your injuries, you can be compensated for lost wages. Once you can no longer keep doing the same job or lose the capacity to earn the same amount, future losses are also covered in the settlement.

• Pain and Suffering: Non-monetary damages such as pain, distress, and loss of enjoyment of life form a large portion of settlement amounts. The more subjective they are, the larger an item is in personal injury cases.

• Fault and Blame: The surer you are that the other party is solely at fault for the accident, the more you can request settlement. However, if you were also negligent in causing the accident, your recovery is less under Colorado's comparative negligence system.

• Insurance Coverage: Your recovery may be affected by the at-fault driver's insurance policy limits. If the coverage is inadequate, your underinsured motorist coverage in your policy takes effect.

  
  

Average Car Accident Settlement Values

It is not an easy answer, but the fact teaches us that car accident settlements range from a few thousand to over $100,000 based on the above-discussed factors.

• Bump-and-grind type crashes with minor injuries settle for $3,000 to $15,000.

• Major crashes with more serious levels of injury or higher property damage cost $20,000 to $75,000.

• Severe crashes with injuries that alter the trajectory of an individual's life or permanent disability can easily top $100,000 with some costing millions.

Remember that these are rough estimates. Your case may be outside of these figures depending on the facts.

Why You Need to Have a Car Accident Lawyer in Colorado Springs?

It is intimidating to resolve a car accident claim on your own, particularly when insurance providers want to provide the smallest sum of money. A skilled car accident lawyer in Colorado Springs can represent your best interest in the following manner:

• Providing actual assessment of all damages, including undercover charges and future costs.

• Getting credible evidence, including medical records, police reports, and witness statements.

• Aggressive negotiation with insurance companies for a fair settlement.

• Suing if need be and appearing in court on your behalf.

Having an attorney present is important to make sure you don't settle for anything less than what you deserve.

Wrapping Up

How much is an average car accident settlement payment? Everything depends on a million other things, but if you've got a good legal council, you know that you are guaranteed the absolute best chance for a good and fair settlement. If you're injured in a car accident, don't play Russian roulette with your recovery. Meet with an experienced Colorado Springs car accident attorney to go over your case and start down the road of monetary recuperation.

Do you wish to view how we can help you? Call us today to schedule a free consultation and allow us to battle for the reward that you are entitled to.