What is the Average Car Accident Settlement?

If you were in an auto accident in Dallas, you probably have a pile of medical bills, insurance to pay for and plenty of stress. A proper car accident settlement will reimburse you for all the money that you have paid out in medical bills, plus can pay your lost wages, the cost of fixing or replacing your car, and for the pain and suffering you have endured from your injuries.

In most accidents, your insurance policy or the other driver’s will compensate you for the resulting injuries and damages. If your policy has collision coverage and the crash was caused by you, your insurance company will pay a certain sum to repair your car. If the cost to fix it is more than what the car is worth, the insurance company may ‘total’ the car and give you a sum of money based upon its market value before the accident.

When the accident is due to the other driver’s negligence, his insurance company should compensate you for the aforementioned damages. The sum that you are offered initially could be lower than you want. It is an easy matter to get paid back for funds that you had to put out. Getting properly compensated for pain and suffering is another matter.

What Will My Car Accident Settlement Be?

One guideline to figure out what your average car accident settlement will be is to multiply your medical bills by three. That is just an average example, and your settlement amount could be very different. For example, if you had $10,000 of medical bills, in this scenario, your settlement might be $30,000.

But the judge or insurance company will consider the kind of injuries, your treatment plan, how long the therapy is, how much income you lost and how serious the wreck was. In most car accident cases, the settlement will only come when all of your medical treatments are finished. If you have permanent injuries, this will influence the compensation that you get.

The settlement amount is usually higher if you have a more severe or permanent injury. You also will get more compensation if the other driver was drunk. If you file a claim against the other driver’s insurance policy, you will be limited by whatever their policy maximum is.

For example, if you had $30,000 in damages but the limit on their policy is $20,000, that is all you can get from the policy. You might try to sue the driver personally for the additional $10,000.

To get a more accurate picture of what your car accident settlement could be, talk to us at Guajardo & Marks today.

Have You Been Hurt in a Dallas Car Wreck?  Call Guajardo & Marks Now.

There are many serious car accidents in the Dallas area. If you have been hit and injured in a car wreck, you probably have injuries that cause you pain and suffering and to miss days or even weeks from work. The tough lawyers at Guajardo & Marks will work aggressively to obtain the compensation you deserve for your accident. Call us now for a free consultation.