Car accidents can have a devastating impact on your life, leaving you with physical injuries, emotional distress, and financial burdens. If you’ve been involved in a car accident in North Carolina, you’re probably wondering how much you can expect from a car accident settlement.
An average car accident settlement figure may not reflect what your case is worth. Car accident settlements vary widely depending on numerous factors.
Hiring an experienced North Carolina car accident lawyer is crucial for seeking fair compensation. Your lawyer will advocate for your rights in settlement negotiations with the insurance company.
What is the Average Car Accident Settlement?
According to the Insurance Information Institute, the average car accident settlement for bodily injury liability claims in 2022 was $24, 211. The average settlement for property damage liability claims in 2022 was $5,313.
Car accident settlements can range from a few thousand dollars to hundreds of thousands of dollars, depending on the specifics of each case. The settlement amount depends on the severity of the victim’s injuries, the extent of property damage, and other factors of the car accident case.
What Influences the Car Accident Settlement Amount?
Several factors can influence the value of a car accident settlement. Understanding these factors can help you get a better idea of what your North Carolina car accident case might be worth.
Medical Expenses
Medical expenses are a significant portion of the car accident settlement. The costs of emergency room visits, hospital stays, surgeries, medications, physical therapy, and ongoing medical treatment can add up quickly. Car accident victims may also require long-term care or rehabilitation.
Your North Carolina accident lawyer will fight to ensure the settlement amount covers all current and future medical bills.
Lost Income
Lost income is another critical factor that can affect the value of a car accident settlement. If you are unable to work due to your injuries, you may be entitled to compensation for lost wages during your recovery. In cases of severe injuries that affect your ability to work in the future, you may also recover compensation for your loss of future earning capacity.
Property Damage
The cost of repairing or replacing your vehicle and any other property damaged in the accident is typically included in a car accident settlement. This can include the cost of a rental car while your vehicle is being repaired. Providing accurate estimates for property damage is necessary to ensure you are compensated fairly for your losses.
Pain and Suffering
Pain and suffering refer to the physical pain and emotional distress caused by a car accident. Unlike medical expenses or lost wages, pain and suffering are not easily quantifiable. However, they are an essential component of car accident settlements.
Factors such as the severity of your injuries, the impact of your injuries on your daily life, and the extent of your physical and emotional pain are considered when calculating compensation for pain and suffering.
The At-Fault Driver’s Insurance Coverage
The at-fault driver’s insurance coverage can significantly impact the potential settlement. North Carolina law requires drivers to carry minimum liability insurance limits of $30,000 per person/$60,000 per accident for bodily injury and $25,000 for property damage.
If the at-fault driver has only the minimum insurance coverage, your settlement may be limited to those amounts. However, if the driver has higher limits or additional insurance policies, such as an umbrella policy, you may be able to recover more.
If the at-fault driver is uninsured or underinsured, you can file a claim with your uninsured/underinsured motorist coverage.
How a North Carolina Car Accident Lawyer Can Help
Navigating the settlement process after a car accident can be challenging. The insurance company will strive to limit your payout. Here’s how an experienced car accident attorney can help maximize your settlement amount.
Building a Strong Case
Your car accident attorney will thoroughly investigate the accident to gather evidence and build a strong case showing the other driver was at fault. This may include obtaining police reports, interviewing witnesses, analyzing medical records, and working with accident reconstruction experts.
Negotiating With the Insurance Company
Insurance companies strive to minimize payouts on car accident claims. Car accident attorneys understand insurance company tactics and can negotiate on your behalf for a fair settlement. They understand the true value of your car accident claim and can counter a lowball settlement offer.
Our legal team can help you recover compensation for the full extent of your losses. This includes not only medical bills and lost wages but also pain and suffering. We will fight for the maximum compensation.
Legal Representation in Court
If negotiations don’t lead to a fair settlement offer, a car accident attorney can take your case to court. Having skilled legal representation in court is crucial, as it can significantly impact the outcome of your case. Your attorney will present your case effectively, advocate for your rights, and pursue the compensation you deserve.
Contact Us Today for a Free Consultation
Car accident settlements can vary widely depending on many factors, including the severity of the victim’s injuries, medical costs, lost income, property damage, and the at-fault driver’s insurance coverage. Insurance companies aim to minimize payouts to car accident victims.
Our North Carolina car accident lawyers will fight to secure the full compensation you deserve for your injuries, pain and suffering, and financial losses. We will protect your rights at every step of the process, from building a strong case and negotiating with insurance companies to representing you in court if necessary.
You don’t need to worry about the cost of attorney fees. We charge no upfront legal fees, and our lawyers only get paid if we secure a settlement or court victory. If you or a loved one has been in a car accident in North Carolina, don’t risk losing a significant portion of your settlement by going it alone.
Contact North Carolina Car Accident Lawyers today for a free consultation. Our dedicated legal team is here to help you navigate the complex settlement process and fight for the fair settlement you deserve. Let us handle the legal details so you can focus on your recovery.