How Much Can I Get for My Car Accident Settlement?

Car accidents can bring your life to a screeching halt, leaving you on the side of the road to pick up the pieces. After a car accident, it’s recommended that all car victims call the proper authorities and seek medical care immediately, even in minor cases. The police will document the accident, call an ambulance if your injuries are severe or prevent you from doing so, and record the details of the event. Once they’re finished, they’ll have a full report of your accident and, more importantly, some information regarding who was at fault.

The medical professional in charge of your care will examine the extent of your injuries and document the findings. Make sure to be honest and direct about the pain and discomfort you’re experiencing during your examination. If you don’t notify them of every aspect of your condition, they can’t document it in your findings, and you might not be able to recover the damages for that specific injury down the line without that information in your initial report.

Accidents resulting from third-party negligence allow the victim to file a lawsuit against the at-fault party to recover the damage they sustained. Through a lawsuit, you can recover compensation for your medical expenses, lost wages, emotional distress, and other damages, but your specific recovery will depend on the circumstances surrounding your case. However, your compensation comes from the negligent party, and if they don’t agree to settle, you can find yourself in a very difficult position.

You could gamble with your car accident settlement and go at it alone, or you could retain a trusted attorney to guide you through the process. Our car accident lawyers leverage endless resources to ensure that you’re fully compensated for the damage you sustained, giving you an undeniable competitive edge and increasing your chances of success. Are you wondering, “How much can I get for my car accident settlement?” Morgan & Morgan can assure you it’s more than you think, and we’re here to stand by your side and advocate for every penny you’re entitled to.

Read on for more information about car accident settlements. Or, if you’re ready to speak with our team, complete a free, no-obligation case evaluation to get started.

How Do Car Accident Settlements Work?

Once you’ve removed yourself from the scene and received medical care, you’ll have to determine the damage you sustained from the accident. You can add up your medical expenses and vehicle repair costs easily, but you may have some difficulty determining the dollar amount of your physical and mental damages. Insurance companies will often use “calculators” to determine this figure, but each provider will use a completely different one. The ambiguity makes it difficult to trust these calculators and equations, which is why you should retain an attorney to protect against lowball offers.

If the negligence of a third party caused your accident, you can file a lawsuit against them to recover damages. Most states require both parties to attempt to negotiate a settlement before the matter ends up in court, so you’ll have to prepare for this process. One of the most challenging aspects of car accident lawsuits is proving the other party’s negligence resulted in your accident. You’ll need to display evidence that they acted negligently in the first place, then show how their negligence added up to the injuries you walked away with.

If neither party can come to an agreement, the case will have to move into the courtroom. These situations almost always call for the assistance of an attorney. Fortunately, Morgan & Morgan’s attorneys are well-versed in fighting for clients' rights in and outside the courtroom, often recovering multi-million dollar verdicts on their behalf. We work our cases up from the beginning for the possibility of a trial, which allows us to always stay one step ahead.

How Much Can I Get for My Car Accident Settlement?

Generally, the highest amount of restitution is given to the more serious cases, whereas minor car accidents wouldn’t compensate the victim as substantially. There are a variety of factors to consider. Your specific recovery will depend on the circumstances surrounding your case, including the severity, the jurisdiction the accident occurred, your financial loss, and many more, but your attorney can help you maximize the value. But, if your accident was severe, you can expect to recover a significant amount, and you’ll be able to notice if you’re offered less than you deserve.

Our car accident lawyers have taken on major insurance companies and complex legal disputes where the victim is given a fraction of what they deserve. Each car accident is different. Your specific recovery depends on a variety of factors. Here are a few common damages that car accident victims recover:

• Medical bills
• Repair costs
• Lost wages
• Pain and suffering
• Punitive damages
• Funeral expenses

The rising cost of medical equipment and car components has increased the amount of monetary damage in car accident cases significantly. An ambulance ride itself costs thousands of dollars, and the price of an extended hospital stay is even more alarming. Without proper compensation in car accident cases, the victim can be shackled with a life-changing financial burden, which is especially upsetting considering the accident wasn’t their fault.

How Much Are Most Car Accident Settlements?

According to the nation's average, car accident settlements start from $40,000 and increase depending on the severity of the situation. If you were involved in a major accident, you can expect your compensation to reflect the damage you sustained, but even minor car accidents can result in triple-digit settlements. For example, if you were involved in a minor fender bender but herniated a disc despite the low impact, you can still seek to recover damages equivalent to the pain you’ve endured from that injury plus the associated medical expenses.

Some states, like Florida and Michigan, are considered “no-fault” states, meaning that all licensed drivers are required to maintain a minimum amount of insurance coverage. The amount varies, but in Florida, you’re required to hold at least $10,000 worth of personal injury protection (PIP) insurance at all times. If you’re involved in a minor accident where the damage is less than your PIP coverage, you can collect your benefits swiftly from your insurance provider, but it gets a little more difficult if the damage exceeds your PIP coverage.

Any accident that exceeded your PIP coverage and was caused by the negligence of a third party will have to be settled another way. Most states require you to attempt negotiating a settlement before bringing the lawsuit into the courtroom. A majority of car accident cases are settled through negotiation, but there are others where the at-fault party refuses to meet your terms. In these situations, it’s best to call on an attorney for help. All of Morgan & Morgan’s car accident lawyers are well-versed in both settlement negotiation and courtroom litigation, giving you the best of both worlds.

How Long Does an Insurance Company Have to Investigate a Claim?

Insurance providers are legally obligated to investigate incoming claims within a “reasonable amount of time.” The specific amount of time depends on your jurisdiction, but you can expect the insurance company to investigate your claim within 15-30 days of filing. If they take longer than that, they could be in violation of the law, and you can seek legal action to secure punitive damages for the extended wait time.

Every investigation must be done promptly to gather the best and most evidence possible. As time passes, evidence decays, gets lost, or becomes unusable, which could be to the insurance provider's benefit in some cases. Anyone who believes that their insurance company is purposely delaying their investigation should speak with a trusted attorney about their options.

Can I Afford a Car Accident Attorney?

Some law firms will charge their clients exorbitant retainer fees before looking at their cases. These same firms haven’t seen the inside of a courtroom in years, and they know they can accept the first best offer of compensation and walk away from the client having already been paid. Unfortunately, their main focus is the almighty dollar, and they care very little about what happens to their clients when they walk out of their office. Not only does this further the financial burden for the client, but it also makes it exponentially more difficult to return to a normal life. Without proper compensation, they’ll be forced to pay for the accident and their legal retainer fees out of pocket, so Morgan & Morgan chose to approach car accident settlements differently than the rest.

At Morgan & Morgan, the fee is free. That’s right; You pay nothing to team up with America’s largest personal injury firm. Rather than burden you with legal fees, we take our fee from the favorable settlement or jury award because we know we can achieve it. We want all accident victims and those who were wronged by someone’s negligence to be able to afford comprehensive representation, regardless of their financial status, so you’ll never have to worry about paying out-of-pocket with our award-winning team.

Maximize Your Car Accident Settlement With Morgan & Morgan’s Car Accident Lawyers

In the most difficult moments of your life, Morgan & Morgan has your back. You shouldn’t have to pay for an accident that wasn’t your fault, nor should you have to accept a lowball compensation offer because your insurance company refuses to honor your contract. Each of these situations leaves you without the resources you need to pay off your expenses and return to the life you lived before the accident, which is something that no one should have to endure. If you were involved in a car accident that wasn’t your fault and you feel that your compensation doesn’t reflect the accurate value of the damage you sustained, just know that we have you covered.

There might be thousands of law firms online, but only one can guarantee you the best possible chance of success—Morgan & Morgan. Complete a free, no-risk case evaluation to get started.