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4 Factors That May Play a Role in Your Car Accident Settlement

When you meet with a lawyer after your car accident, you may wonder how much to expect in a settlement. The answer will vary based on a variety of factors, so your lawyer may not be able to give you an amount right away. After speaking with your lawyer about the aspects of your case, it’s possible that he or she will come up with an estimate, but the actual amount won’t be determined until the case has been concluded. The following are a few factors that could play a role in your settlement amount.

  1. Insurance Coverage

Your insurance coverage may have something to do with how much you can recover. For example, if someone has a full tort policy, the driver can sue for all damages and it doesn’t matter what kind of injuries are incurred. If the driver has a limited tort policy, recovery of damages is more complex. If you are able to receive compensation from more than one insurance company, that could also impact your settlement.

  1. Liability

The person who was negligent in the car accident will typically be held liable for your injuries. There’s a possibility you could be held partial responsibility, and if that’s the case, you may not be able to recover as much in damages. If someone else holds all responsibility, you may end up with a larger settlement. If the at-fault party was particularly negligent or reckless, you could recover punitive damages, which would make your settlement higher as well.

  1. Medical Costs

You should be able to recover costs to cover your medical bills from injuries sustained in your accident. This means both immediate injury costs, as well as those for future medical appointments, medication, therapy, and other healthcare appointments. Because future costs may be more difficult to determine, it’s important you enlist the help of an attorney.

  1. Employment Impact

Your injury may have a big impact on your ability to work, or it may not affect your employment at all. In either situation, your settlement cost will be impacted. For example, if you are unable to work for the rest of your life, you’ll need compensation to cover long-term lost wages. If you only missed a few days while you recovered, the amount will be much less because you will not have missed as much work.

Contact a Lawyer Today

It’s understandable you want to know what to expect in terms of a settlement amount after a car accident. To learn more, contact a lawyer,who can help you work through the numbers to come up with an estimate.