No two car accidents are the same. Whether it’s a rear-end collision or an accident involving a semi-truck, accident victims will receive different settlement amounts.
Factors such as the severity of the injuries and the type of accident can impact how much settlement you can earn. Regardless, you want to make sure you earn the maximum amount you can for the damages.
If you’re interested in learning more about your potential car accident settlement, Naqvi Injury Law is here to offer some insight. Our team of experienced car accident attorneys has worked in the Las Vegas legal system for years, and we know the ins and outs of filing a settlement.
We’ll review the average motor vehicle accident compensation, factors impacting your payout, and how working with a legal team can help maximize your settlement.
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What is the Average Car Accident Settlement?
While we can’t offer you a guaranteed number for your particular car accident case, we can give you a general idea of what you could expect.
The national car accident settlement average in the United States ranges from $23,900 to $37,248.62. These numbers come from a collection of car accident statistics going back to 2021.
However, research also shows that the average payout for these settlements can range anywhere from $5,000 to $20,000.
As mentioned earlier, the average settlement for a car accident can vary depending on a variety of factors. This can include where you live, the extent of the damages, your insurance coverage, and the type of settlement.
One of the biggest factors is the severity of your injuries. A car accident resulting in severe, high-end injuries will have a higher settlement than a minor injury settlement. This is because the settlement needs to cover the medical expenses, and severe injuries require more extensive medical care.
Common Car Accident Settlement Ranges by Accident Type
The range for a car accident payout can look different depending on the type of accident. Different accidents can lead to different damages, and these damages impact how much compensation you earn.
The average car accident settlement numbers based on the type of accident include:
- Rear-End Collision: $10,000+
- Truck Accident: $103,000+
- Motorcycle Accident: $66,000+
- Pedestrian Accident: $67,511.90
When looking at these numbers, remember that they’re not a guarantee. Every case is different, and these are merely estimates based on recent statistics. Your settlement may be slightly different from these numbers, depending on the circumstances.
Factors That Affect a Car Accident Settlement
So many different circumstances and factors can lead to a motor vehicle accident settlement. From the level of liability to the severity of the injuries, every case is going to have a slightly different compensation amount.
Some of the biggest factors that can impact your settlement amount include the following:
1. Insurance Coverage
Insurance companies will cover up to a certain amount depending on your policy and monthly payments. Each state has a different minimum insurance coverage requirement for drivers.
If you live in a state with a lower minimum, each party’s insurance will cover less of the damages from the accident.
It can get even trickier if the accident involves an uninsured or underinsured driver. In these cases, the other party may not have any insurance coverage or may not have enough to fully cover the damages. This can negatively impact your settlement amount.
2. Liability & Fault Determination
Your settlement can also fluctuate depending on who’s found liable for the accident. In cases where liability is clear or obvious, you may earn more compensation for the damages. However, cases where liability can be disputed may require more negotiation for higher settlements.
Negligence can also impact your settlement. Some states work off a comparative negligence system, where car accident victims can still earn partial compensation if they’re found partially responsible for the accident.
However, other states use contributory negligence, where a victim cannot earn any financial compensation if they’re found partially responsible.
3. Severity of Injuries
Financial compensation is meant to cover the damages accrued from a car accident, and this includes personal injuries. The more severe the injuries, the more extensive the compensation.
Catastrophic injuries that lead to long-term recovery or disability will have a higher settlement value than minor bruising or lacerations. This is because the settlement will need to cover not just short-term treatments but also long-term medical care.
4. Medical Expenses
Medical bills can start to pile up after a car accident. From check-ups to more extensive treatment plans, no one wants to get buried under the expenses.
Your car accident settlement should cover both your immediate and long-term care costs. The more extensive the medical treatment, the higher your settlement should be.
The extent of your medical bills and treatment plans will also impact how your legal team will calculate pain and suffering damages. The higher the medical expenses, the more extensive the injuries, and therefore, the higher the levels of pain and suffering.
5. Lost Wages and Income Potential
If you’re injured in a car accident, there may be a period where you’re unable to go to work and earn your income. Whether it’s temporary or permanent work loss, missing work can make paying your bills a challenge.
The amount of time you were unable to work due to your injuries is documented through your work, and this information is included in your settlement negotiations. Depending on the circumstances, you can earn this lost income back.
6. Pain and Suffering
Pain and suffering damages are calculated by multiplying your economic damages (such as medical bills and property damage) by a factor ranging from 1.5 to 4. The factor used depends on the severity of the accident and the extent of your injuries.
Since pain and suffering damages can be subjective at times in the eyes of the law, you’ll need extensive evidence and documentation to support your claim. Emotional trauma and distress are just as valid as physical injuries, and you deserve compensation for these damages.
7. State Laws and Jurisdiction
If you live in an at-fault state, the driver responsible for the accident is also responsible for covering the victim’s damages. However, drivers in a no-fault state are responsible for covering their medical expenses. The at-fault driver is only responsible for the other party’s property damages.
If you have personal injury protection (PIP) insurance coverage, it will cover the medical expenses related to your accident if you’re found to not be at fault. This additional coverage has the potential to increase your overall settlement amount.
How Car Accident Settlements Are Calculated
Insurance companies can use a couple of different calculation models to determine your settlement. The most common one looks like this:
Your Economic Damages + The Multiplier for Pain and Suffering Damages
The more evidence you have, the stronger your case will be. As you build your case, gather as much evidence as you can that proves the extent of your injuries and how the accident impacted you. This can include a copy of your medical records, expert witness testimonies, and any documentation from a mental health professional.
Real-World Car Accident Settlement Examples
With all of these estimated values, how do you know what actual people are earning? Here are some real-world examples of what a qualified personal injury law firm like Naqvi Injury Law can help you earn:
- A couple on a motorcycle who were hit by a driver near Las Vegas Boulevard earned a $4.2 million settlement.
- A driver pulled over on the side of the freeway was hit by a drunk driver, and they earned a $2.5 million settlement offer.
- A client was in a rear-end collision that resulted in spine and brain injuries. Their settlement was $2.65 million.
Payout Structures: Lump Sum vs. Structured Settlement
Once all parties agree on a settlement amount, you can choose how you wish to receive the payout. You have the choice to pick between a lump sum settlement or a structured settlement.
With a lump sum, you get your settlement payout in one massive chunk right then and there. This can be beneficial if you’re struggling with a pile of medical bills or other debt related to the accident.
On the other hand, a structured settlement pays you in regular installments over some time. This can help you better budget your settlement and make sure you’re getting a steady stream of income during long-term medical treatments.
When You Should Hire a Car Accident Lawyer
A legal team like Naqvi Injury Law knows the legal system like the back of their hand. They have firsthand experience negotiating settlements, and they know every trick in the book to improve your outcome. They’re on your side, and they will fight to maximize your settlement value so you earn the most.
At Naqvi Injury Law, we offer free consultations to help value your case and see what your options look like. Take the first step to putting this traumatizing experience behind you.
Frequently Asked Questions
Do I need an attorney to get a car accident settlement?
While you aren’t required to hire an attorney for your car accident settlement, they can help make sure you earn the maximum compensation available. They know all the tricks, and they can give you legal advice so you get the best outcome.
How is pain and suffering calculated?
Pain and suffering damages are calculated by taking your economic damages and multiplying them by a factor from 1.5 to 4, depending on the severity of the accident and your injuries.
What is considered a “good” offer?
A good settlement offer should cover all of your medical expenses, property damage, and lost income from time off work. You should also receive adequate compensation for emotional distress and trauma from the accident.
How long does the process usually take?
The timeline to settle a car accident claim depends on the severity of the accident and the cooperation of all parties involved. More extensive accidents can take longer due to the complexity of the case, and one party refusing to negotiate the settlement can drastically slow down the process.
Get a Free Case Evaluation from Naqvi Law
The average settlement for a car accident varies depending on factors such as liability and the extent of the damages. While we can offer a ballpark estimate, each case is going to be different.
For a personalized assessment of your car accident case and potential settlement payout, reach out to Naqvi Injury Law. Our team has an extensive track record of winning our clients high-value settlements that cover the damages from an accident. We put the client first, and we’ll fight to make sure you get the justice you deserve.
Get in touch with us today or visit our website to begin the process of putting all of this behind you.