If you’re looking to claim after an auto accident… Join the club! They’re becoming more and more common, and plenty of people want to know how much to expect from car accident settlement. Well, there’s no straight answer. It depends on plenty of different factors, and whether or not you can prove your case.
If you were on the receiving end of the accident as a pedestrian, you’re not alone. Believe it or not, the numbers of pedestrians in the United States who die from car accidents keeps rising each year, with a current estimate of about 5,000 yearly. In the United States alone, those that may have suffered from one form of car accident or other are more than 150,000 per annum. That’s plenty of people, but each accident is different. So let’s take a closer look at what determines how much your claim is worth.
Determining the Value of Your Car Accident Settlement
So let’s dive into the question of how much to expect from car accident settlement. Well, as we said, that the answer isn’t easy to give. The amount you will receive is determined by a whole host of factors that relate to your injuries. First off, how serious are they? Are they life changing or minor? How much has your life been affected by your accident? Can you still work, or are you going to have to live on disability welfare? In short, these factors determine whether your claim is worth a little or a lot:
- How big are your hospital/therapy bills?
- How much was your car/other personal possessions that were destroyed in your accident worth?
- Did the accident cause you to miss a brief amount of work? Or can you no longer work at all? (This is called ‘lost earnings’)
Your best bet? Hire a lawyer well experienced in handling this type of case. Let them review of your case. Your lawyer will then estimate how much to expect from car accident settlement based on available evidence, previous history of people with similar car accidents and, of course, the lawyer’s experience. That’s by far the best way to come up with a figure.
What’s a Multiplier?
Something else that goes into figuring out your personal injury settlement is the ‘multiplier’. This is a subjective factor that your attorney will use to increase the amount that you’re entitled to. Put simply, the more severe your injury, the more your ‘multiplier’ is. Let’s say that with all of the basics added up- hospital bills, property written off, days of work missed- you’ve lost $200,000 as a direct result of your accident. Now, if you were fighting your insurance company on your own, you might think that anything around that number would be ‘fair’. But you’re actually entitled to more because of your multiplier.
Your pain and suffering is what factors into your multiplier. Can you no longer live the social life you did before your accident? Are you plagued with worry and stress ever since the crash? Do you have daily aches and pains because of whiplash or some other result of your accident? Well, there’s no precise monetary value that you could attach to these problems. The fact that you wake up with a headache every day since your time in the hospital isn’t specifically worth $10, $10,000 or $1,000,000. But if you take all of your pain and suffering together- the general impact of the accident on your day to day life- your attorney can use that to multiply the objective value of your case anywhere from 1.5 to 5 times. Talk to your solicitor to figure out how much to expect from car accident settlement when it comes to multipliers.
Why Might My Claim Be Worth Less?
Just like your multiplier can make your claim worth more, there are plenty of reasons it might be worth less.
- Did you only suffer minor injuries like scratches and scrapes, or concussion?
- Were your medical expenses minimal? We all know that healthcare costs are high these days, but there’s a big difference between the price of a checkup and the price of staying in hospital for month.
- Are you able to prove that the other driver was the one at fault? If you have dashcam footage or witness statements, this will make your claim more believable. If it’s just your word against their’s, you’ll have less of a chance of getting a good settlement.
- Can you prove that your stress, anxiety or depression were a result of the accident? Moreover, can you prove that you actually suffer with them? Are you just claiming to have them, or has your physician diagnosed you and prescribed you medication for them?
- Did you wait a long time to make a claim?
Each of these factors can mean that your multiplier is lower than it otherwise would be.
Why Call 719 Pain?
719 Pain offers you an individualized service as we link you directly with all the expert legal advice you need. We have an impressive track record of handling car accident settlement cases just like yours. We have successfully helped plenty of Colorado Springs residents like you find attorneys, physicians and chiropractors after their accident. You don’t have to worry about how much to expect from car accident settlement, we’ve got you covered. Your help is just a call away as we handle your case from start to finish. So give us a call today!