How Much is the Average Car Accident Settlement?

It is difficult to quantify precisely how much the average car accident settlement is worth. Every case has its unique characteristics, and the amount will vary depending on factors such as:

• The severity of your injuries
• The cause of the accident
• Your financial and non-financial losses

Generally speaking, the average value of a car accident settlement is higher when injuries, negligently caused, are classified as serious.

Compensation Available in a Car Accident Personal Injury Case

Once liability is established and negligence is proven, compensation can be awarded for various economic and non-economic damages such as:

• Current and future medical bills
• Rehabilitation and ongoing care costs
• Any amendments to the home resulting from the accident
• Lost wages and compensation if your employment is affected in the future
• Pain, suffering, and inconvenience
• Replacement of damaged property

If the accident caused the loss of a family member, personal representatives of the decedent’s estate could file a wrongful death claim or lawsuit. While no amount of money replaces a cherished family member, having a lawyer on our team manage the legal responsibility can ease the strain and help provide financial stability.

Calculating the Value of a Car Accident Settlement

Calculating the physical, emotional, and financial losses associated with your case accurately is vital in the legal process. When an insurance company makes an offer, it is essential to know beforehand what a reasonable settlement amount should be, as it is especially significant if you sustained severe injuries.

We can help determine a fair settlement payment and review any offers you receive from insurers. This way, you are well-positioned to make informed choices about accepting an offer, re-negotiating one, or taking your case to trial when and if required.

State Laws That Can Affect Your Right to Pursue Compensation

Under the New York statute of limitations, injured parties generally have three years to file a personal injury lawsuit, per CVP § 214. However, if the accident caused the death of a loved one, the timeframe permitted for legal beneficiaries to begin legal proceedings is typically reduced to two years under EPT § 5-4.1.

While this may seem a long time, seeking advice sooner rather than later can be beneficial to allow your attorney to gather and preserve vital evidence and build a detailed and robust case.

How You Can Protect the Value of Your Car Accident Case

Even though the accident is over, that doesn’t mean that you can’t do more to help protect the value of your case. We recommend that you consider the following when going through the legal process:

• Seek medical treatment to ensure your health is in check and to show a link between your injuries and the accident.
• Don’t post on social media, especially about the car accident.
• Don’t give the insurance company a recorded statement, as they can twist what you say to fit their narrative.

It is important to keep in mind that the insurance company will look for gaps in your story to offer you a low settlement or deny your claim altogether. Don’t give them a reason to do either. You deserve to be fairly compensated.

How a Car Accident Lawyer with Our Firm Can Help

Building a strong case is time-consuming, requiring meticulous attention to detail.  Therefore, essential components of a personal injury claim include:

• A thorough investigation of the accident’s cause to determine who is liable
• Gathering and preserving the evidence required to support your case
• Proving another driver’s negligence caused the accident
• Accurately calculating the current and future losses associated with your injuries
• Managing settlement negotiations and reviewing settlement offers
• Taking your case to trial if the insurance company does not offer a reasonable settlement.

If you have any questions or concerns, a personal injury lawyer on our team can help you understand your legal options.

In addition, it can be expensive to build a case and pursue compensation, so our lawyers provide their legal services on a contingency-fee basis. This way, there are no out-of-pocket or upfront costs to pay. Fees and costs are then paid upon reaching a favorable settlement or verdict on your behalf.

Learn More About the Value of Your Car Accident Settlement in a Free Case Review

With over a century of collective experience, the team at the Law Offices of Cohen & Jaffe wants to help you recover a fair settlement for your injuries. While we have recovered hundreds of millions of dollars for our clients, we know a case is not just about money; it is about helping you move forward with your life.

Further, as a trained EMT, injury lawyer Richard Jaffe has a true understanding of serious and traumatic injuries. This experience provides a unique insight into the medical aspects of your case and the trauma and pain you suffered from the accident. To learn more about our services and how we can help, call for a free consultation at (516) 358-6900 today.

For a free legal consultation, call 516-358-6900