Typical Car Accident Settlement Amounts

Car Accident Settlement Money
If you’re dealing with a serious injury after a car accident, you’re probably wondering how much compensation you might receive in a settlement. This is an understandable concern. After all, the amount of your settlement will determine whether you will be able to pay for your medical expenses, your missed wages, and any other out-of-pocket expenses you might have incurred. A settlement can also compensate you for a range of “non-economic” damages, otherwise known as pain and suffering. These damages include PTSD, loss of consortium, loss of enjoyment of life, and so on.

The first thing you need to know about car accident injury cases is that no two situations are exactly the same. The exact circumstances of each collision are slightly different, and the settlement will obviously vary as a result. That being said, it is possible to determine some general “ballpark figures” based on various factors.

The best way to determine the most accurate estimate for your settlement is to get in touch with a qualified, experienced personal injury attorney in Las Vegas. While internet research can definitely be enlightening, you’ll only receive reliable, accurate, and relevant information during a consultation with a legal professional. In the case of a serious car accident, it makes sense to get in touch with a car accident attorney as soon as possible. The sooner you start working with a car crash lawyer in Las Vegas, the better your chances will be of a fair, adequate settlement.

Average Car Accident Settlement

In broad terms, the average car accident settlement amount in the United States is about $20,000. This represents a sharp increase from 2013, when the average car accident settlement was about $15,000. These numbers are based on collisions involving bodily injury. The claims for property damage only (like a dent in your car) are much lower. While this number might seem pretty low, it’s important to note that this is an average based on all the various injuries a person might suffer after a car accident. The average amount for a serious bodily injury (such as paralysis) is much higher, while minor injuries such as whiplash generally result in lower settlement amounts.

Car Accident Injury Settlement Amounts

The amount of your settlement is calculated with a very specific formula. The starting point is always your physical injury. The cost of your medical treatment forms the basis of the entire settlement, so it’s very important to get the medical treatment you need as soon as possible. Don’t be afraid to get X-rays, CT scans, or anything else that a medical professional recommends. It’s better to be safe than sorry.

Collect your receipts and any other documentation that highlights your medical costs. Next, consider your lost wages. This is the amount of money you would have earned if you had been able to attend work. This should be a relatively straightforward process, as you can simply use your past earnings to determine the “cost” of the number of days you missed.

Once you have all of this information, it’s time to tackle the non-economic damages. These are damages that cannot be easily quantifiable, such as pain and suffering. In a wrongful death claim, the family members might claim loss of consortium. Another example is disfigurement, which can affect your self-confidence and your general enjoyment of life.

These non-economic damages become a multiplier. This means that your economic damages are multiplied by an amount that represents the severity of your non-economic damages. The more serious the injury, the higher the multiplier. For serious bodily injuries, this multiplier can be as high as 10.

So let’s say you suffered a spinal cord injury and your medical expenses are about $350,000. Perhaps your injury is very severe, and it will impact your life going forward. Your multiplier might be 9, in which case you would be left with a settlement amount of $3.15 million. Note that this doesn’t even take into account other economic damages, such as missed wages.

Average Car Accident Insurance Claim Settlement

The biggest car insurance company in the country is State Farm, and this company is generally believed to pay out an average settlement amount of about $15,000 after a car accident. This number might sound pretty low, but it’s important to understand that most car accidents do not involve serious bodily injuries. In addition, State Farm tends to sell smaller limit insurance policies.

This number is generally the same for other companies, such as GEICO, Metlife, Farmers, and so on.

How Much Will I Get From Pain and Suffering From a Car Accident?

Nevada is an “at-fault” state, which means that everyone always has the ability to claim pain and suffering after a car accident. This is not always the case in a “no-fault” state. These other states may prevent injured victims from claiming pain and suffering unless they have suffered a “serious injury.” The definition of a “serious injury” isn’t always clear, and it becomes a somewhat vague threshold that victims need to overcome. It’s easier to claim pain and suffering in a state like Nevada. As previously mentioned, your pain and suffering becomes a multiplier. It does not represent a monetary value, but rather the extent to which your economic damages will be multiplied.

Minor Car Accident Settlement Amounts

If you have suffered a minor car accident, you will receive a lower settlement amount. This is mostly due to the fact that minor car accidents do not tend to result in significant pain and suffering for victims. Although you can definitely still claim pain and suffering after a minor accident, the multiplier will be low. In addition, your medical expenses will be low. For example, perhaps you suffered whiplash and required about $5,000 worth of medical treatment. In addition, you might have missed a week of work, resulting in $2,000 of losses. Your pain and suffering might represent a multiplier of 2, which means that you would receive a total of $14,000.

Herniated Disc From Car Accident Settlement: What’s the Average Amount?

Neck Injury From Car Accident

The average settlement for a herniated disc injury is about $350,000. This is a national average, and the number obviously varies based on your symptoms and the severity of your herniated disc. Sometimes, herniated discs are inoperable, and you might be looking at a lifetime of pain. This will result in a higher pain and suffering multiplier, and therefore a higher settlement. The median herniated disc settlement is only $75,000.

Average Settlement for Car Accident Back and Neck Injury

Back and neck injuries can vary in severity. This type of injury could be something as minor as whiplash, or it could be something as severe as paralysis due to spinal cord injury. Your settlement amount really depends on these factors, but there are some ballpark figures that can help you develop a clearer picture. First of all, it’s important to note that Ladah Law Firm has successfully recovered million-dollar settlements for injury victims.

On numerous occasions, Ladah Law Firm has recovered millions for injury victims who have suffered spinal cord injuries and or traumatic brain injuries. In one case, the plaintiff received a settlement of $5 million after suffering spinal cord injury in a car crash. In another case, a plaintiff received $3.2 million after a crash with a taxi. A trucking accident resulted in a settlement of $2.4 million being recovered by Ladah Law Firm on behalf of a spinal cord injury.

The national average for a spinal cord injury is around $200,000, but it really depends on the unique circumstances of your case and whether or not you’re working with an experienced attorney.

Average Settlement for Concussion Car Accident

According to national statistics, the average concussion settlement ranges from $20,000 to $30,000. For more serious concussions, the settlements begin to rise to the six-figure range. The challenging thing about concussions is that they are difficult to spot, and the long-term effects of this injury can be tricky to predict. This is why it’s very important to get medical treatment after a concussion – even if you feel completely normal. In the next few months or even years, you may notice serious cognitive decline and other issues. To put things in perspective, Ladah Law Firm successfully recovered a settlement of $475,000 on behalf of a victim who suffered a concussion after a semi-truck accident.

Average Settlement for Car Accident Back Injury

Back injuries can also range in severity, so it’s difficult to assign a specific average amount to this type of injury. A back injury might involve spinal injury, or it might be something as minor as whiplash. Generally speaking, the average settlement for a soft-tissue back injury is between $2,500 and $10,000.

What is the Average Settlement Payout for Whiplash Injury?

Over the course of this FAQ, we have referred to a whiplash injury as “minor” on multiple occasions. But if you have actually experienced this injury firsthand, you know that it can hardly be described as such. Make no mistake, whiplash is a serious medical issue, and in some cases, it can stick around for months or even years. In addition, whiplash can throw your spine out of alignment, causing a range of additional issues. Whiplash is also one of the most common car accident injuries, especially for “rear-end” accidents.

Again, the average settlement for a whiplash injury is difficult to determine, as each case is unique. For serious whiplash injuries, plaintiffs can realistically receive upwards of $100,000. This is especially true if the whiplash prevents them from working for long periods of time. Insurance company guidelines typically state that payouts should range from $7,500 to $15,000.

Enlist the Help of a Qualified Attorney Today

Enlisting Lawyers To Help You Get A Settlement
If you’ve been searching for a qualified, experienced personal injury attorney, look no further than Ladah Law Firm, PLLC. We have considerable experience with a wide range of accident cases, and we have helped numerous injury victims recover substantial settlements over the years. Our entire team is passionate about helping you get the settlement you need and deserve.

Some of our accident & injury settlements in the past have helped victims considerably. In many cases, we have recovered tens of millions of dollars for our plaintiffs. This includes a $45-million settlement for a wrongful death motorcycle collision lawsuit, and an $11-million settlement for a small boy who suffered a head injury due to property owner negligence. Other examples include a $10-million settlement for a woman injured in a trucking accident, a $6.4-million settlement for a shooting injury, and a $5-million settlement for a spinal cord car crash injury. The list goes on. We have helped countless individuals recover million-dollar settlements.

No one deserves to suffer unnecessarily, especially if they are trying to pay for medical expenses while unable to work. If someone else was to blame for your accident, you deserve to take legal action. Reach out to Ladah Law Firm at your earliest convenience, and we can help you reach a positive legal outcome.