The question that we hear the most regarding personal injury claims is “how much is a car accident settlement worth?” The brief answer is that each personal injury claim, including car accident claims, is unique, but we can provide examples of typical settlement amounts for car accidents, including economic damages, non-economic damages, and punitive damages. First of all, it is useful to understand how a car accident claim’s value gets calculated. In this context, “value” refers to the total dollar value amount that you are likely to receive.
Settlement negotiations play a crucial role in determining the final amount of a car accident settlement.
This includes understanding the average Georgia car accident settlement, which can vary based on factors such as the severity of injuries, financial losses, and the impact of at-fault laws and unique circumstances of the accident. We will be looking at various methods that are used by insurance companies and car accident attorneys to come up with dollar amounts and then apply this to a few specific examples.
How is my average car accident settlement value calculated?
Generally speaking, injuries that might “appear” to be more serious are given more weight, since juries have a tendency to have a stronger reaction to those types of injuries. Injuries resulting from car accidents, such as whiplash, broken bones, and head injuries, are given more weight in settlement calculations, including compensation for pain and suffering.
When calculating the value of a car accident claim, various factors such as the severity of injuries, medical expenses, and lost wages are considered. Even if your case does not go to trial, both sides will consider the way a jury will react since, if nothing is worked out in the settlement negotiations, then the ultimate decider will be a jury. That means you could end up with a higher settlement for your injury if it:
- “Looks” serious and is visible
- Requires invasive or complicated procedures
- Did not respond very well to your initial treatment and took a lot longer than expected to improve
- Left you with a permanent limitation, disability or pain
- Involves severe injuries that significantly impact your life
Beyond this, the two sides differ in the way they estimate the cost of your injury in dollar amounts. Both sides will look at your actual medical costs as well as your “pain and suffering,” and medical expenses. However, different methods will be used by the insurance company and your car accident attorney to calculate the final amount.
Your car accident attorney will calculate the total cost of your injury which is partly based on how your life has been affected by it. That can involve numerous factors, including whether or not there is emotional anguish associated with your injury, whether your ability to work is affected, lost wages, whether you are going to continue to experience pain in the future, and whether or not the injury interferes with your regular daily living. If you would like to know more about what settlement you should expect for a Rear-end accident, visit this page
On the other hand, the insurance company likely will calculate your settlement’s value based on a certain algorithm. They will enter your type of injury, along with various factors that relate to it, and then allow a number to be given by a computer that is based on other cases that are similar to yours.
It not surprising that the number that the insurance company comes up with is often much lower than the number that your attorney calculates. That is why the negotiation process can make such a huge difference in car accident claims, and why having an experienced car accident attorney can make such a major difference in the amount you win ultimately.
Medical Expenses and Lost Wages
Medical expenses and property damage are major components of car accident settlements. In addition to healthcare costs, property damage resulting from car accidents, such as damage to vehicles, is also considered in the settlement amount. These include costs for emergency room visits, surgeries, hospital stays, medications, physical therapy, extensive medical treatment, and any future medical needs.
Lost wages are also considered, covering the income the victim lost due to the inability to work during recovery. If the injuries result in long-term disability or reduced earning capacity, future lost income is calculated and added to the settlement amount. These economic damages are relatively straightforward to document and quantify, providing a solid foundation for the settlement. These economic damages form a significant part of the overall car accident claim.
Pain and Suffering
Non-economic damages, such as pain and suffering and emotional distress, significantly influence the overall Georgia car accident settlement. Car accidents can lead to significant physical pain and emotional distress, reducing the victim’s quality of life. These damages compensate for the physical pain, emotional distress, and reduced quality of life resulting from the accident.
Calculating pain and suffering is more subjective and can vary greatly from case to case. Factors such as the severity of injuries, the duration of recovery, and the long-term impact on the victim’s daily life are considered. In some cases, a multiplier method is used, where the total expenses are multiplied by a factor (typically between 1.5 and 5) to estimate pain and suffering damages. Pain and suffering are important components of a car accident claim, significantly influencing the overall settlement amount.
Property Damage
Settlements also cover the cost of repairing or replacing the victim’s vehicle and any other personal property damaged in the car accident. The amount of property damage compensation is typically straightforward, based on repair estimates or the fair market value of the vehicle if it is totaled. However, disputes can arise over the extent of the damage and the cost of repairs, which can affect the final settlement amount.
Insurance Policy Limits
The insurance policy limits of the at-fault driver play a crucial role in determining the settlement amount. In Georgia, the minimum liability coverage requirements are $25,000 per person for bodily injury, $50,000 per accident for bodily injury, and $25,000 for property damage. If the damages exceed these limits, the victim may need to seek additional compensation through their own uninsured/underinsured motorist coverage or by filing a lawsuit against the at-fault driver personally.
Understanding the available insurance coverage helps in setting realistic expectations for the potential settlement amount. Understanding the insurance policy limits is crucial for accurately estimating the value of a car accident claim.
What are some examples of various car accident settlements along with their values?
Based on the above examples, we can provide a general range for the average settlement amount that some of the more common types of car accident injuries may win in the state of Georgia:
- A case of minor whiplash, which can be quickly resolved by having chiropractic treatments, can win enough to pay for your medical bills and an additional $3,000.
- Moderate whiplash where physical therapy or a specialist is required can win the cost to pay your medical bills and an extra $4,000 or so.
- More serious whiplash where an epidural is required, or another type of advanced procedure can have medical bills that easily cost $10,000, and another $5,000 to $10,000 may be won in addition to this.
- Tissue or joint damage that responds to treatment well and that is resolved by physical therapy might pay for your medical bills and an additional $10,000.
- Tissue or joint damage that requires you to have ongoing injections or treatment can easily bring in $25,000 or more.
- Injuries requiring surgery might win a settlement of $50,000 or even more; injuries that are severe can win over $100,000 easily.
- For minor car accidents, the average settlement can range from a few thousand dollars to cover medical bills and minor damages.
- For a car accident in Georgia, the average settlement can vary widely based on the specifics of the case, including the severity of injuries and available insurance coverage.
- How can I find out the exact amount that my claim is worth?
- For serious injuries, the answer will depend more on having your claim negotiated by a professional. For really minor injuries, having an experienced car accident lawyer might only get you an extra $3,000 or so; for a disability or shattered bones, an attorney can help you get tens of thousands in additional money than you can get on your own.
These examples illustrate the potential range of settlement amounts for different types of car accident claims.
In general, the best way to ensure that you get the entire amount of your claim is to do the following:
- Immediately see a doctor.
- Be very careful about what you say to an insurance company – before signing anything, speak to an attorney first.
- See a specialist who thoroughly understands your specific kind of injury.
- Have an attorney represent you and deal with the insurance company for you.
- Consider the impact of your insurance coverage on the settlement amount.
Have you sustained an injury from a car accident in Georgia? The Weinstein Firm offers free consultations with some of the most respect and experienced attorneys. To receive your FREE consultation now call 770-HELP-NOW.
