How Much Should I Settle for After a Car Accident?

More Even minor car accidents can result in costly vehicle repairs. Accident injuries will likely add medical expenses to the total, with the bills quickly piling up. If you are unsure how to get the compensation you deserve, the Mike Hostilo Law Firm can help! Our personal injury law firm will handle every aspect of […]

Published: August 8, 2022

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Even minor car accidents can result in costly vehicle repairs.

Accident injuries will likely add medical expenses to the total, with the bills quickly piling up. If you are unsure how to get the compensation you deserve, the Mike Hostilo Law Firm can help! Our personal injury law firm will handle every aspect of your car accident claim, ensuring you never settle for less than you deserve. Read on to learn more, then get in touch to schedule your free initial consultation!

What is the Average Settlement For Car Accidents?

There is no set amount that crash victims receive. Because every auto accident claim is different, our team takes a personalized approach to maximize the settlement you receive.

According to surveys, average settlements in 2020 were between $20,000 and $25,000

While there is no limit to general damages for car accident cases, there is a cap for punitive damages – unless the at-fault driver was under the influence of alcohol or drugs. The cap amount varies from state to state, so be sure to consult an experienced auto accident lawyer near you.

How Much Will The Insurance Company Offer in Car Accident Settlement?

The at-fault driver’s insurance coverage may play a role in the settlement you receive. Most states require drivers to carry a minimum amount in bodily injury and property damage liability, with some drivers paying the minimum and others opting to spend more. If their policy is not enough to cover your damages and an agreeable settlement cannot be reached, you may need to file a personal injury lawsuit.

5 Factors That Impact Your Car Accident Settlement

Our car accident lawyers have detailed five factors that often factor into the settlements we recover for our clients. Check them out here:

FINANCIAL LOSS

Financial damages include vehicle repairs, medical bills, lost wages, and pain and suffering. These amounts are totaled, giving your car accident lawyer a better idea of how much settlement you truly deserve.

INSURANCE COVERAGE

As mentioned above, most states require drivers to carry a certain amount of insurance coverage. The majority of states also require uninsured motorist coverage. This coverage is used if you are hit by an uninsured driver, with your insurance company paying compensation instead of the at-fault driver. The coverage the other driver carries will influence the settlement you recover.

LIABILITY

Because Georgia, South Carolina, and Alabama are all at-fault states, it is important to determine who is to blame for causing your accident. If the other driver is deemed at fault, their insurance company will offer a settlement. If the blame is shared, however, the amount of compensation will be reduced. For instance, if you are 20% at fault, your settlement will be reduced by 20% to account for the role you played in causing the accident.

SEVERITY OF INJURIES

Generally speaking, the more severe the injury, the more extensive (and costly) the medical treatment. That’s why the severity of your injury will greatly impact the damages you deserve. In addition to medical bills, your auto accident lawyer will account for pain and suffering to determine a fair settlement.

STATE LAWS

The laws regarding minimum insurance coverage vary from state to state, as do rules of the road and statutes to address fault. Here at the Mike Hostilo Law Firm, our team knows state law inside and out – so we are equipped to offer trusted legal advice.

Contact an auto accident lawyer today to schedule your free consultation!

How to Maximize Your Car Accident Settlement

If you have been injured in a car wreck, our personal injury law firm will fight to hold the at-fault driver accountable. We will gather the evidence needed to strengthen your car accident claim and negotiate on your behalf to ensure a reasonable settlement is recovered.

After your accident, get in touch as soon as possible. The Georgia statute of limitations for auto accident claims is two years, but the clock is already ticking. And to best preserve evidence, it is crucial to get started right away.

For trusted legal representation when you need it most, schedule your free initial consultation today!