If you have been in a car accident recently, you can file a personal injury claim to recover the financial losses caused by your injuries and other damages. This typically involves reaching out to the auto insurance company of the at-fault driver to get your car accident settlement.
Many car accident victims wonder if there is an average settlement amount that they can expect from the insurance company. However, many factors impact settlement amounts.
Gingras, Thomsen & Wachs, LLP is a law firm that represents victims in car accident cases from minor car accidents to car accident deaths, working to get fair car accident settlements. In this blog post, we discuss car accident settlement amounts, how they are affected, and what you can do to get a fair settlement that fully covers the losses you’ve endured.
Factors That Influence a Car Accident Claim Settlement
Car accident settlements vary widely from one car accident case to another. This is due to the unique evidence and circumstances involved in every auto accident. Here is a look at a few of the variables that can influence settlement amounts.
Severity of Injuries
This is one of the key factors that can impact the settlement value. You can expect a lower settlement for injuries that heal quickly and won’t impact your daily life. When a motor vehicle accident leads to serious, permanent injuries, it will result in a higher auto accident settlement, especially when you factor in non-economic damages such as pain and suffering.
Insurance Coverage
Insurance policies will also be a relevant factor when you seek compensation. In Wisconsin, you must have liability insurance at a minimum of $25,000 for bodily injury per person, $50,000 for bodily injury for each accident, and $10,000 for property damage per accident. The minimums also require uninsured motorist coverage for bodily injury at $25,000 per person and $50,000 per accident. The coverage from insurance will usually affect the final settlement amount.
Medical Expenses
When your car accident injury is serious, there are typically significant medical expenses involved. The medical bills for your medical treatment and medical expenses plus your future medical bills can become quite large, particularly if you have a spinal cord injury, traumatic brain injury, broken bones or ligaments, or internal bleeding.
Impact on Earning Capacity and Life Quality
When an accident causes you to miss work or leads to a disability that can prevent you from working in your previous capacity, lost wages need to be considered. Like pain and suffering, emotional distress from your injuries and being unable to work can take a toll on the quality of life you experience after the accident.
Average Settlement for Car Accident Claims
As you can see, the typical car accident settlement amount has no average. Car accident settlement examples can be unreliable because they do not consider every aspect of your car accident lawsuit.
An experienced car accident lawyer can take the time to review your case by looking at your current rate of pay and how long you’ll be out of work to calculate lost wages. Additionally, a personal injury lawyer will provide a more accurate assessment than any online car accident settlement calculator.
Attorneys at Gingras, Thomsen & Wachs will know how to look through your medical records, lost wages, and other expenses to determine all your economic damages. They will look at policy limits, pain and suffering, and a range of metrics to provide average settlements for your case.
The Role of Insurance Companies in Settlement Negotiations for Car Accidents
In personal injury claims that arise from car crashes, you will need to contact the insurer of the at-fault driver to file your claim. It may seem simple but there are things you should know when seeking your injury settlement.
Insurance adjusters are trained to show a compassionate demeanor, but anything you share with them can be potentially used against you in the lawsuit. An experienced attorney can help guide this process.
With the comparative fault laws in Wisconsin, this could reduce your settlement by your percentage of fault. If you have more fault than the other driver, you would be barred from seeking a settlement in a personal injury lawsuit.
Steps Involved for Pursuing an Accident Settlement
It is imperative that you know how to protect your legal rights in the aftermath of a car crash. The first thing to do is call the police so they investigate the accident scene. Police officers create police reports that can be used as evidence. They can also take photos and interview witnesses to help document what happened.
Additionally, you’ll want to gather as much evidence as you can on your own through photos, videos, and witness statements. Prompt medical care is needed to create records of the treatments you’ve received to establish your injuries. Above all, the most important thing to do is to contact an experienced personal injury attorney.
With the help of an auto accident lawyer, you’ll have someone who fully understands state laws, insurance tactics, and how to maximize settlements. The legal team at Gingras, Thomsen & Wachs, LLP is available for a free consultation where you can learn more about how your case’s unique factors can affect the settlement amount
