Average Payout for Car Accident Claims in the U.S.
You’ve been in a car accident and submitted all the information to the insurance company.
Now you sit and wait, wondering how much you will receive.
Everyone always wants to know what they’ll get, but it’s not so easy to pinpoint. Many factors affect how much you can receive for your car accident claim.
How Payouts for Car Accident Settlements Are Calculated
Generally, if your injuries are minor, you will not be getting a large settlement. However, if you have sustained serious injuries that have altered your life, you could be compensated more.
When calculating a settlement after a car accident, it will depend on the severity of your injuries. It will also depend on what the insurance company is willing to pay. Since they’re about protecting their bottom line, be aware that the first settlement they offer is likely to be too low to cover all the costs you have incurred or will incur due to the accident.
The best thing you can do to get the amount you deserve is make sure you have plenty of evidence that shows the other driver was at fault and the extent of your injuries.
Here are some key items that can help determine your settlement payout value.
The medical expenses that you show the insurance company are the costs you’ve already paid and any future medical costs related to your accident injuries. The settlement can vary depending on the type of care you received, how long you stayed in the hospital if you needed surgery, or if you will require long-term care.
Loss of Income
After an accident, you may have lost money you would’ve earned at work while recovering from your injuries. You can claim lost wages if you show previous pay stubs to prove what you earn in a month.
Pain and Suffering
Medical bills and lost wages are only two examples of economic damages you may be able to claim. However, non-economic damages like pain and suffering can also be included. It is difficult to calculate pain and suffering—and just as challenging to prove it. This is why you’ll want to work with a personal injury attorney to ensure what you get is fair.
Pain and suffering for one injury victim could mean the loss of enjoyment of life since the injuries prevent them from partaking in activities they once loved. It could have led to mental health issues such as anxiety or depression or any number of other issues.
The Average Settlement Amount for Car Accidents in America
Now that you’re aware of how widely the payout amount can vary, you can take a look at statistics from the Insurance Information Institute. For 2021, the average bodily injury claim was $22,734 while the average property damage claim was $5,314.
Keep in mind that many personal injury settlements remain private and the factors of each case are different. If you want the best possible outcome, work with an attorney. It will be your best path to getting the most money to put your life back together after the crash.
Here’s how to ensure you have the best chance at getting the results you want.
After a car accident, always take photos and videos of the aftermath. You should be sure to capture images of the damage done to your vehicle as well as of any other vehicles involved. Make sure you show the positioning of the vehicles, too. Speak with witnesses and get their contact information to have more proof the other driver was at fault.
The sooner you are treated for your injuries, the better. Do not shrug off medical intervention after an accident. Insurance companies will likely deny your claim if you do not seek medical care immediately.
Store all your medical bills, receipts, and other related items in a file. Your attorney can use these as proof of your injuries and damages. You should additionally write down how you feel as you recover as this can help you show your pain and suffering.
Talk to an Attorney
Above all, ask an injury attorney about your car accident claim. They will let you know if you have a valid claim and the possible outcomes. They will also provide you with a wealth of legal knowledge for free in the initial consultation.
Keep in mind that most injury victims settle for less. By working with an attorney, you’ll be maximizing your chances to get proper compensation.