A car accident can leave you with injuries, mounting medical bills, lost wages, and the hassle of figuring out how you’re going to get compensation for your losses. A car accident settlement can reimburse you for the losses related to the accident.
If you’ve been injured in an accident that wasn’t your fault, you have rights. You’re entitled to compensation for your losses, but the settlement you may receive is influenced by multiple factors, such as the severity of your injuries and the accident itself. Continue reading to find out more about the average settlement for a car accident in Wilmington, NC.
Who Will Pay My Settlement?
If you were injured or your car was damaged in an accident that you’re responsible for, your own insurance company will likely pay for any losses. Car accidents that were caused by another driver are typically covered by their insurance company.
Unfortunately, insurance companies are for-profit businesses, which means insurance adjusters have a duty to save their company money by reducing claim holders’ settlements. The insurance adjuster may try to get you to accept a settlement offer that is far less than what you truly deserve. If you think you’re entitled to more than what they are offering, you’re probably right. An experienced car accident attorney can help you determine the real value of your case and fight for what you really deserve.
Is There an Average Settlement for Car Accidents?
Car accident injury settlements are unique to each situation, so there’s no “average” settlement amount. The insurance company considers such things as your injuries and treatment, whether you can still work the same job, the time you must spend in therapy, and the income lost while recovering to determine a fair settlement. If your injuries are permanent, that also affects your potential compensation.
In many cases, insurance companies won’t offer a settlement until you’ve completed all required medical treatment. If you’re negotiating a settlement, it’s important to tell the insurance company if you’re likely to require ongoing therapy, surgeries, or medication for your recovery. Without that, the insurance company may give you a lower settlement than you need to cover your total expenses when all is said and done.
How Are Settlements Calculated?
While there’s no set formula to calculate compensation for car accident injuries, insurance companies often consider such things as your medical bills, loss of income, and property damage to determine a fair settlement. Several factors can influence your settlement, however, such as the extent of your injuries, their impact on your current job or ability to work the same job in the future, and the reason for the accident.
If the driver to blame was being reckless by driving under the influence, for example, you may receive a higher settlement offer. Additionally, insurance companies can’t pay out more than the maximum policies of the driver and owner. If your total bills are more than that, you will need an experienced attorney to search for any additional policies that may apply or to sue the driver for the difference.
We’ll Speak for You and the Settlement You Deserve
If you’ve been injured in a car accident that wasn’t your fault, our team at Speaks Law Firm will stand up and speak for you and your rights. We represent good people through tough times, and we want to help you seek the compensation you need and deserve for your losses. Call 910-341-7570 or fill out our online form to get your free case review!