What is the Average Car Accident Settlement?
After a collision, you might be wondering, “how much is the average car accident settlement?” After all, you probably have high medical bills and other expenses that you cannot afford. Unfortunately, there is no simple answer to this question. For one thing, no one has collected all of the personal injury settlements in Florida, which are usually private. For another, every car accident is different.
To better understand how much compensation you might receive, contact an experienced Daytona Beach car accident lawyer to review your case.
Understanding Car Accidents and PIP Insurance
Florida currently is a no-fault car accident state. After a collision, you make a claim with your personal injury protection (PIP) insurer. Florida law requires that motorists carry $10,000 in PIP benefits, which are no fault. PIP will pay out 80% of your reasonably necessary medical expenses and 60% of your lost wages up to the policy limit.
One downside of the no-fault system is that you can’t sue the at-fault driver in many cases, which can dramatically limit the amount of money you receive. However, if you suffered a permanent injury, then you can usually sue for full compensation.
Calculating Your Economic Losses
Car accidents are expensive. For example, you will probably have to pay for medical bills, prescription drugs, and damage to your car. You might also be unable to work, which also costs you money.
These are all economic losses you can receive compensation for in a settlement. Fortunately, they are easy to calculate. Get out your medical bills, prescription drug receipts, repair estimates, and paystubs. Add up the money you have lost.
Estimating Your Compensation for Pain and Suffering
PIP insurance does not cover pain and suffering. But if you have a permanent or serious injury, you might receive compensation for intangible losses like pain, suffering, and emotional distress.
These intangible losses are harder to estimate. How do you put a price tag on constant pain or the inability to use your legs? What if you have sunk into a deep depression because of your physical injuries. If you went to trial, a jury would use its experience to come up with an amount of money that compensates you for these losses.
As experienced Daytona Beach car accident lawyers, we can also use our experience to estimate what you are likely to receive. Some injuries—like facial scarring or amputations—can warrant considerable compensation to make up for the severe emotional distress.
Taking Other Factors into Consideration
Each case is different. When analyzing the circumstances surrounding your accident, we will also consider:
Whether you contributed to the accident in any way. If you did, then you can expect to receive less in compensation.
The size of the insurance policies at play. For example, the other driver might not have liability insurance, so you will make a claim on your uninsured/underinsured motorist policy. You cannot receive more than the policy limit, so that will influence how much you receive.
For help analyzing your case, contact Bundza & Rodriguez today. We have obtained favorable settlements for countless car accident clients, and we are eager to work on your case.
To schedule a free consultation, please call 386-252-5170.