The aftermath of a car accident can be physical, emotionally, and financially devastating, more so if you did not cause the accident. This explains why many car accident victims are happy to hear that they can pursue compensation for a negligence-caused collision. Nonetheless, there is always the worry of how much to expect from car accident settlement.
No two car accidents are the same, which means that settlements may not be standard either. Below, we explore some factors that may come into play when determining your settlement. Please talk to an Atlanta Car Accident Attorney if you have been injured in a car accident in the city.
The Severity of Your Injuries
According to US Government Statistics, close to 96 percent of personal injury claims are settled out of court. Of all the factors considered, the severity of your injuries plays the largest role in the value of your settlement. People with severe injuries receive high settlements as they require more treatment and will spend more time away from work in recovery.
Similarly, permanent or disabling injuries receive the highest settlements as they result in more recoverable damages. This includes:
- Physical therapy
- Home modifications to accommodate the injury
- Medical devices such as wheelchairs
Your Age and Health
Injury victims in the middle-age range tend to receive higher settlements than younger or older victims with the same injury. This is because they make more money and are likely to lose more when they miss work during recovery. If they lose their earning capacity, they typically also get a higher award.
If a victim is found to have had a pre-existing injury or condition that was worsened by the accident, the insurance company may offer a lower amount than to one who was healthy.
Impact on Your Life
The non-economic impacts of an accident are hard to pin down as they are more subjective. Nonetheless, the insurance company or judge will evaluate how your injury has affected your daily life in areas such as hobbies, relationships, and social life.
You may also receive a higher compensation depending on the ‘value’ of your pain and suffering. Usually, your attorney will assign this loss to a value between 1.5 and 5, then multiply it with your economic damages.
Insurance Policy Limits
The at-fault party’s insurance policy limit is crucial to your settlement as you cannot receive money that is unavailable. If your claim surpasses the limit, you may have to sue the liable party, which can prove difficult as many drivers don’t have the amount of money required to settle large claims.
Contact an Atlanta Car Accident Attorney Today
While this analysis will give you a rough idea, the only way to know exactly how much to expect from car accident settlement is to speak to an attorney. They can evaluate your claim and losses to determine how much to demand from the insurance company.
Ponton Law is dedicated to ensuring you get the best outcome out of your claim. If you have been injured in a car accident, contact us today at (404) 860-2454 to schedule a free initial consultation with an experienced Atlanta Car Accident Attorney.