Getting What’s Owed: What’s the Average Car Accident Settlement Amount
Curious about the average car accident settlement amount? Read on to find out what you could potentially recover.
There were 34,247 fatal car accidents in the United States in 2017 and countless more serious accidents resulting in injuries.
Were you one of the thousands of people injured in a car accident and have now decided to sue?
There’s no formula for determining the precise settlement to pay out in a car accident lawsuit. The value of your claim depends on your case: your injuries, the impact of the accident, and who was at fault.
Car accident claim data suggests that the average car accident settlement is around $21,000. Will your claim receive more or less than the current average?
Keep reading to find out how much you might receive from your lawsuit.
Types of Damages in the Average Car Accident Settlement
The average car accident settlement may feature up to three types of damages: special, general, and punitive.
Special damages cover what you lost as a result of the collision including:
- Past medical bills
- Future medical expenses
- Lost wages
- Lost earning opportunities
- Property damage costs
General damages are the most common types of damage. They cover pain and suffering such as physical pain, emotional trauma, mental anguish, and lost enjoyment of life.
These damages are less predictable than special damages because they aren’t assessed according to fixed bills. General damages may range widely depending on the accident itself and its impact on your life.
In some cases, judges award punitive damages when they believe general and special damages don’t prove enough cover. Punitive damages typically feature in drunk driving cases or cases of gross negligence when the complainant demonstrates an intent to harm.
What Will You Receive?
The damages you receive will reflect the nature of your accident. A minor fender-bender resulting in minor injuries will pay out with general damages and often special damages. You can get a advance on your lawsuit using pre-settlement funding.
For example, a whiplash and concussion settlement may pay between $10,000 and $20,000.
If a drunk driver with a record of repeat DUI offenses plows your car off the road causing extensive injuries and trauma, your case will likely come in above the $21,000 average. Severe neck and brain injuries have the potential to feature six-to-seven figure summary judgments.
However, impressions of the judge and jury will also play a role. Talk to your lawyer about realistic settlements.
Examples of Recent Car Accident Claims
Most car accident claims come to an end before ever reaching the courtroom – or even before filing a lawsuit making data hard for the layperson to find.
However, a few high profile cases stand out.
In 2018, a Texas jury found Toyota negligent in a case involving defects in a Lexus sedan. The complainant’s children receive injuries in a rear-end collision as a result of gross negligence on the part of the automaker.
The court awarded $242 million to the family.
The case was exceptional because Toyota is held to a high standard as an auto manufacturer. However, it is an excellent example of how high punitive damages can be when negligence is clear-cut.
Were You in a Car Accident?
The average car accident settlement is around $21,000, but the amount you will receive depends on your case — and the prowess of your car accident attorney.
Do you need help paying medical bills or getting back on your feet while you wait for a settlement? We can help. Click here to learn more about funding for personal injury and car accident lawsuits.