How Much Is a Good Car Accident Settlement?

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You should always assume your car accident will only pay enough to compensate you for the damages suffered. That includes physical, financial, and psychological damages. Mental anguish and emotional distress can also pay. If you become involved in an automobile accident, seek the aid of a good personal injury lawyer to get the best settlement possible.

How much is a good car accident settlement? Your settlement should take into account all your losses during the accident, as well as the recovery from the accident. Every lawsuit considers injuries, lost wages or diminished employment options, ambulance and medical costs, pain and suffering, and the loss of consortium. The largest payout goes to the survivors of a person who lost their life as a result of the accident. The closer your injuries are to broken bones and long-term injuries, the greater your settlement is for your physical injuries. Keep track of all the tests your hospital or doctor requests, such as MRI’s, X-rays, EKG’s, etc.

You should keep a journal of the pain you experience every day, as well as a record of all medical appointments kept, and all medical professionals from whom you sought care. The length of time spent seeking care is also important.

To begin to calculate how much the car settlement should be, you must put a sum total on each loss. A broken bone is more severe pain with longer-term suffering than a bruise or concussion. Plus, most people miss some work. When someone else is at fault, the person suffering the two broken ribs can often be awarded as much as $1 million, while a person with a broken finger and a partial amputation of that fingertip as little as $115,000.  In most cases, plaintiffs with broken bones receive larger settlements.

The plaintiff suffers from pain, both during this accident and their recovery. If they were in pain for 90 days, they would receive an amount suitable to compensate them for that suffering. The amount may vary, but often runs as an amount of at least $100-$200 per day. So, it would equal 90 X 200=18,000.

If you were unable to work during that time, you could add lost wages to the lawsuit. If you earn $200 on a normal day, once again you’d multiply 90 X 200=18,000. Loss of property is yet another facet of your lawsuit. If your vehicle was worth $20,000, and it now has little or no value, you can sue for your losses. Depending on the original value, make, model and mileage, the diminished value could be as little as a few hundred dollars, or as much as a few thousand.  Determine what the lost value is to include that in your lawsuit.

Loss of consortium is the affection you show your loved one. If, after an accident, you cannot show affection like you once did, you can sue for the loss of consortium. Remember, any loss you suffer as a result of your accident, including mental anguish, should be documented and presented as part of your lawsuit, to get the largest and most fair settlement.