Personal Injury Lawyers
| Plantation, FL

What Is the Average Settlement for a Florida Car Accident?

Any compensation you receive should cover all your accident-related expenses

If you take legal action against a negligent driver after being hurt in a car accident, you probably won’t end up in court. Most likely, your case will be resolved through a settlement. It’s important that the settlement is fair and covers the losses you suffered. But how do you know if accepting a settlement offer is the right thing to do?

The car accident attorneys at Feingold Posner Draizin in Plantation, FL, have years of experience with handling personal injury claims. We understand the impact that injuries from a crash can have on you and your family. Our lawyers can guide you through the legal process and are committed to negotiating a settlement that gives you the compensation you deserve.

What is a car accident settlement?

A car accident settlement is a financial agreement reached between the parties involved in a car accident, typically negotiated by their insurance companies or lawyers. This settlement compensates the victim for damages incurred due to the accident, including medical expenses, lost wages, property damage, and pain and suffering. The settlement amount is usually determined based on the severity of injuries, the extent of vehicle damage, and other related costs. Accepting a settlement means you agree not to pursue further legal action related to the accident.

What is the average settlement for a car accident?

The average car accident settlement can vary widely depending on the circumstances of the accident, including the severity of injuries, the extent of property damage, and the impact on the victim’s life. Settlements can range from a few thousand dollars for minor injuries and damage to several hundred thousand dollars or more for severe injuries and significant losses.

Some sources put the average car accident settlement in the United States at around $20,000 to $30,000. Other sources say the average is much more than that. The important thing to remember is that each case is unique, and settlement amounts are influenced by various factors, including medical expenses, lost wages, and pain and suffering.

What factors can affect the amount of a settlement?

The amount of a car accident settlement can be influenced by many factors, including:

  • Severity of injuries – Serious injuries, such as fractures, spinal damage, or traumatic brain injuries, often result in higher settlements due to increased medical costs and long-term impacts.
  • Medical expenses – These expenses, including hospital stays, surgeries, rehabilitation, and future medical needs, are a major factor in determining settlement amounts. Comprehensive and ongoing medical treatment typically leads to higher compensation to cover these costs.
  • Lost wages – Settlements also consider Lost income due to the inability to work during recovery. This includes not only past income loss but also future earning capacity if the injuries affect long-term employment prospects.
  • Property damage – A common example of property damage in car accident cases is the repair or replacement costs for a vehicle. The extent of damage to personal property and the need for a rental car during repairs are also considered.
  • Pain and suffering – This includes physical pain, emotional distress, and loss of enjoyment of life. These non-economic damages are subjective but can significantly impact the settlement amount, especially in cases of severe or permanent injury.
  • Liability and comparative negligence – These determine how the settlement is calculated. If the victim is partially at fault, the settlement amount may be reduced proportionately based on their percentage of fault.
  • Insurance policy limits – The at-fault party’s Insurance policy limits can cap the settlement amount. If the at-fault driver has low policy limits, they may restrict the total amount of compensation available.

How is a car accident settlement reached?

The settlement process begins with your lawyer sending a demand letter to the at-fault party’s insurance company. This letter outlines the accident’s facts, the extent of injuries and damages, and the compensation amount being sought. There are often negotiations between your lawyer and the insurance adjuster, involving a back-and-forth discussion of offers and counteroffers until both sides agree on a settlement amount.

Once both parties agree on the terms, a settlement agreement is drafted, reviewed, and signed. The agreed-upon amount is then disbursed, typically with the insurance company issuing a check to you or your lawyer. This settlement compensates you for your injuries and damages while waiving any future legal claims related to the accident.

Should I accept a settlement or file a lawsuit?

There are many things to consider before accepting a settlement offer – including the amount, the strength of your case, and your willingness to endure a potentially lengthy legal process. If the settlement offer fairly compensates you for your medical expenses, lost wages, pain and suffering, and other damages, it may be a good idea to accept it. But sometimes, it’s necessary to file a lawsuit to get full and fair compensation. Always talk to an experienced car accident lawyer before accepting a settlement offer.

Our attorneys know how insurance companies handle settlements

We used to represent insurance companies. We understand how they evaluate claims, factors they consider during negotiations, and the tactics and strategies they’ll use to try to pay you less than you deserve. That’s why our lawyers are committed to helping you get the best possible outcome in your case.

When you’ve been involved in a car accident, there’s a lot on your mind. You are still recovering from your injuries, and medical expenses are piling up. Dealing with the insurance company just leaves you more confused. You don’t know if you need a lawyer or even if you have a case, and you aren’t sure what to do next.

We can help put your mind at ease. Contact us to schedule a free consultation. We can review the details of your accident, discuss your legal options, and answer any questions you have. Talk to one of our attorneys – when you call us, you get us.

    Free Case Consultation
    Contact Us Today

    Free ConsultationClick Here