No one wants to be in a car accident. Unfortunately, car accidents happen all too often. In 2018, there were over 90,000 injuries and deaths from car accidents in Los Angeles County alone.
If you or a loved one has been involved in a car accident, you have probably wondered how much you can expect from a car accident settlement.
Of course, there is no predetermined amount of money that a car accident victim will receive after a car accident.
Rather, car accident injury settlement amounts vary based on the specific circumstances of the accident, including the cause of the accident.
Minor car accident settlement amounts will naturally be less than more serious accidents that cause disabling injuries.
Read on to learn what will affect the amount that you will receive for a car accident settlement and why the experienced trial attorneys at the Farzam Law Firm can help you earn the settlement amount that you deserve.
What Is the Average Settlement Amount for a Car Accident?
Because many car accident injury settlement amounts are confidential, there are very few reliable statistics that discuss the average settlement for a car accident.
In addition, car accident settlement amounts can vary widely based on a number of factors, such as the amount of your damages, whether you shared any blame for the accident, and whether liability is in dispute.
As part of your settlement, you may be able to collect the following types of damages.
Naturally, almost all car accidents involve damage to your personal vehicle. The cost of fixing or replacing your car will influence the final settlement amount.
You should also factor in the cost to repair all other personal property that was damaged in the car accident. This includes items like phones, clothing, and jewelry.
Medical Treatment Costs
In many cases, the cost of medical treatment is the most expensive tangible consequence of a car accident. Injuries can be life-threatening and take months or years to recover from.
The higher the cost of your medical treatment—including past treatment and expected future treatment— the higher the average settlement amount.
You can receive compensation for both physical and psychological medical treatment.
Lost Wages (Past and Future)
Lost wages from missing work can make up a significant portion of the settlement amount for even a minor car accident. In serious car accidents, debilitating injuries can permanently prevent you from working at your normal job.
In that case, you could receive both past lost wages and also future wages that you will no longer be able to earn because of your inability to work.
Miscellaneous Out-of-Pocket Costs
Miscellaneous indirect costs caused by the accident will also increase your settlement amount.
Examples include the costs associated with finding a new job, travel expenses to consult with medical specialists and therapists, cab fares, and rental vehicle charges.
You can also receive compensation for your inability to perform household tasks, such as caring for children or working in the yard.
Car accidents victims often suffer losses beyond those that can be counted in dollars.
That is why you can also recover compensation for intangible damages like physical pain and suffering, emotional anguish, psychological trauma, and lost enjoyment of life.
Sometimes, people cause car accidents through gross negligence or even intentional misconduct. In those cases, punitive damages may be a part of your car accident settlement amount.
These damages help ensure that the other party does not act in a grossly negligent or intentional manner in the future.
How Much Will I Get for Pain and Suffering from a Car Accident?
It is harder to calculate pain and suffering damages compared to more tangible damages. Yet there are a couple of methods for approximating these damages.
Sometimes, pain and suffering settlement amounts are determined by the number of days that you had to deal with pain after a car accident.
Other times, attorneys arrive at a pain and suffering settlement amount by multiplying a known cost, like medical bills, by a certain factor.
A good car accident attorney will work to find just compensation for your pain and suffering damages.
Why You Should Act Now
State law places limits on the amount of time you have to file a lawsuit. These limits are called statutes of limitations.
In California, you have two years to file a lawsuit for a personal injury claim, starting on the date you received the injury. However, there are exceptions to this general rule.
If you wait until after this deadline to bring a lawsuit, your case will probably be dismissed, and you will not be able to receive a car accident settlement.
That is just another reason why it is important to hire the right car accident attorney.
How Can the Farzam Law Firm Help?
Here at the Farzam Law Firm, we put our clients first. We will do our best to help you understand the legal process and your options.
Our experienced trial attorneys will work to help you earn the most compensation possible in a car accident settlement, so you can get your life back on track.
But don’t just take our word for it—read our testimonial section and learn about how we’ve changed the lives of our clients. Contact us for a free consultation today, and let us help you fight for your rights.