What is the highest settlement for a car accident?
The highest settlement for a car accident in the United states in the year 2019 was recorded in California for a total of $37,350,000.00; the second highest awarded settlement recorded in 2019 was also settled in the state of California for a total of $28,715,000.00. Additionally, out of a list of the top 50 car accident settlements in 2019, 23 out of the 50 car accident settlements were recorded in California. Long story short, while not every car accident necessarily needs a car accident attorney, statistics show you are more likely to receive a higher settlement with a car accident lawyer than you would without one.
Car accidents are unexpected, stressful events that have the potential to change your life. No two car accidents are the same; injuries, damages, and circumstances are out of your control, but hiring an experienced lawyer to guide you through difficult times and sticky situations is something you can manage. Car accident lawyers and firms like Point Law Group, LLP (based in Los Angeles) will help ensure you receive a full and fair settlement.
Settlements vary depending on the car accident, injuries sustained, post-accident medical expenses, damages and losses, and other details your lawyer will note in your claim. However, you can expect anywhere between $14,321 to $28,215 in a settlement, averaging around $21,000.
What is the highest settlement for a car accident?
Things to know should you be involved in a car accident
If you are involved in a car accident, contacting an experienced lawyer is the best act of self care and preservation, especially if you have sustained injuries from the accident itself. The car accident attorney will ask a series of questions in an attempt to capture an accurate picture of the accident and your losses. They will ask you to identify the liable party and to provide and compile evidence. A benefit of hiring a Los Angeles car accident lawyer is that they will work with and negotiate with car insurance companies on your behalf, helping you avoid the constant back and forth. Perhaps the most important thing to do once involved in a car accident is to contact your car insurance provider and report the accident.
Perhaps the biggest mistake made by car accident victims is accepting the first settlement offered by their car insurance company. Whether it comes from a lack of knowledge of how to handle car accidents, or if they are looking for a quick and easy fix, and trying to avoid negotiation with insurance companies, accepting the first settlement almost guarantees the victim accepts a lower settlement. Insurance companies are trained to save money and offer the minimum, and oftentimes the initial settlement will not cover all of the victim’s losses, and does not foresee any future issues the victim might face. The initial settlement is far too little and does not take into account potential ongoing treatment, pain management, or wage loss. Think about it this way, if you settle early you might miss out on more monetary compensation, or the guns that would support ongoing treatment, surgeries, and any out-of-pocket expenses.
Factors that influence the settlement amount
Injuries, medical bills, the liable party’s negligence, wage loss, non-fiscal damages, and evidence to support your claim are all factors that can affect the value of your settlement.
- Injuries:
Injuries and the severity of the injuries sustained from a car accident can determine, or better yet, impact the value of the settlement/compensation awarded. Brain and spine injuries, internal injuries, and broken or amputated limbs are all examples of injuries that would require extensive medical attention and potentially ongoing treatment, therefore the settlement would account for extensive treatment, and if needed, rehabilitation. - Medical expenses/bills:
Depending on the severity of your injuries, as mentioned before, can determine the amount of medical attention, and ongoing treatment you will need to reach a place of health that is equal to or closest to your previous quality of life. Your settlement will likely cover your medical bills, and anticipate further care (surgeries, ongoing treatment, pain management, disabilities, and so forth). - The degree of negligence from the liable party:
If someone is driving under the influence of drugs or alcohol, or are on the phone and not using a hands-free device, that would be considered a negligent driver. The higher degree of negligence from the driver can dictate the amount of compensation awarded. In some cases, the court can award punitive charges in addition to compensatory damages. Punitive damages are awarded to victims when the liable party is determined to have engaged in outrageous wrongful conduct, in other words, is a negligent driver. - Wage loss:
Injuries can keep you from many important things, such as spending time with loved ones, special events, and even work! If for some reason your injury keeps you from working (temporarily or permanently), the final settlement will consider your wage loss. - Non-fiscal damages:
Non-fiscal damages include physical therapy, counseling, and pain and suffering. These factors are also considered within the settlement amount, especially if determined necessary by a physician or therapist. - Evidence to support your claim:
Creating a strong case may help settle your claim outside of court because the counter-party can see that your chances of winning the case are high; a strong case can also mean a higher settlement value. An attorney may ask you to compile material –witness interviews, accident reports, surveillance videos, bills (medical and other), and proof of wage loss– and in doing so, this helps create a complete picture of the accident, circumstances, and fault.
Los Angeles Auto Accident Lawyers
If you are looking for a Los Angeles car accident attorney, look no further. A firm that has settled millions, Point Law Group, LLP provides tailored representation as no two car accidents are the same! Specializing in automotive and pedestrian accidents, PLG vows to secure a full and fair settlement for all of its clients. Contact Point Law Group, LLP at (310)560-0606 to get a free consultation today!
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