There is no reliable average settlement figure for car accidents. The details of each case are so drastically different that providing an average figure would be deceiving. Instead, you should get a personal valuation of your damages. A car accident lawyer can complete that valuation for you.
Factors That May Affect the Value of Your Car Accident Settlement
While each settlement figure differs, a car accident attorney will account for several factors that typically affect settlement values.
The Nature and Severity of Injuries
The National Safety Council (NSC) explains how the severity of your accident-related injuries can directly affect your settlement value. Generally, more severe injuries are more expensive. Serious injuries may:
- Cause long-term unemployment.
- Cause intense pain and suffering.
- Require extensive medical treatment.
- Significantly diminish your quality of life.
However, even comparatively mild injuries can become expensive to treat.
The Extent of Property Damage
Some car accidents cause terrible damage to one or multiple vehicles. However, others cause only minor damage that is easy to repair.
While you can still suffer severe injuries without extensive property damage, the cost of your property damage will be relevant to your settlement value.
The Victim’s Professional Circumstances (Including Their Earning Power)
Many of our clients miss work after a car crash. The client usually loses income and other professional benefits because of their work absence. Thus, the extent of professional damages can depend on the following:
- How long the car accident victim is unable to work.
- How much the car accident victim earns.
- Whether the inability to work causes the victim to lose bonuses, promotions, and other performance-based benefits.
The Victim’s Response to Their Accident and Injuries
Many victims of car accidents can develop post-traumatic stress disorder (PTSD), among other conditions. Many emotional and mental conditions can affect your enjoyment of life, your ability to work, and your relationships, among other concerns.
Sometimes, it can take years for a victim to recover physically, psychologically, and emotionally. These and other factors are something a car accident attorney will consider when evaluating your losses.
How an Attorney Calculates Car Accident Settlement Values
Attorneys don’t worry about average settlement values. Instead, our team calculates precisely how much our clients deserve. As a result, our firm has secured record-setting financial awards because we consider economic and noneconomic damages.
How We Calculate the Cost of Economic Damages
Economic damages typically have an exact monetary value. Such damages include the following:
- Medical bills
- Vehicle repairs
- Temporary transportation
- Lost income
- Decreased earning power
Sometimes, challenges arise when calculating economic damages. For example, if you are still recovering from your accident-related injuries, your attorney must calculate the cost of future medical care.
We let no challenge stand in the way of our fight for the compensation a client deserves. Instead, our team will work with experts to calculate your economic losses, including medical bills and vehicle repairs.
How We Calculate the Cost of Noneconomic Damages
Placing a monetary value on noneconomic damages can be incredibly challenging. How do you determine the cost of PTSD, physical pain, and other types of pain and suffering?
So, lawyers rely on multiple methods for valuing noneconomic damages, including:
- Multiplier
- Per diem
- Algorithm
- Pain professional
Our firm can explain how we’ll determine the cost of your pain and suffering. Our team won’t just calculate your damages—we’ll also fight for the car collision settlement you deserve. Finally, we’ll show compassion, integrity, teamwork, and excellence in every aspect of the law throughout your case.
How an Attorney Fights for a Fair Car Accident Settlement
Our lawyers have decades of experience representing car accident victims. We keep the client front and center as we handle every step of the legal process.
We will fight for your car accident settlement by:
- Obtaining evidence of liable parties’ fault: Our lawyers will actively seek video footage, eyewitness accounts, and other evidence proving who caused your accident.
- Documenting your injuries: Our team will work alongside medical experts to diagnose and assess your injuries.
- Documenting your damages: We will secure expert testimony, medical records, professional records, invoices for vehicle repairs, and other documentation of your accident-related losses.
- Calculating your settlement value: Our legal team will determine the exact cost of your accident-related damages. However, it might take time to calculate your damages, as we want to ensure the accuracy of our demand for compensation.
- Leading settlement negotiations: Our law firm serves as the voice of the unheard, and we speak loudest during settlement negotiations. We’ll push to secure the complete financial recovery that you deserve.
- Completing a trial if necessary: Our team approaches every case as if it is going to trial. Therefore, no unforeseen challenges can catch us off guard. Instead, we’re ready when the time to head to court comes. So, while we work to get the settlement you deserve, we never shy away from court.
You will have a leading voice in your car accident case, and our legal team will protect your rights throughout the legal process. Most importantly, we’ll fight to win every dollar you are entitled to receive.
Call Christensen Law Today for a Free Consultation About How We’ll Fight for Your Settlement
Our law firm shoots for much more than the average settlement figure. Instead, we fight for the settlement you deserve. We strive toward this goal and provide compassionate service and consistent attention.
Call Christensen Law today at 248-900-9000 for your free consultation. Our team may face a limited deadline for filing your insurance claim or car accident lawsuit, so don’t delay. Contact us now.
