What Is the Average Car Accident Settlement?

There is no average car accident settlement because each case is unique. Car accidents can result in injuries that range from minor to severe and even life-threatening. Some victims suffer permanent impairment and medical conditions that will affect them for a lifetime. 

If you’re wondering what the average car accident settlement is, you would benefit from consulting a lawyer. A Fort Lauderdale car accident lawyer will investigate your collision and determine what a fair settlement would include in your case.

Factors Influencing Car Accident Settlement Amounts

Several factors can impact the amount of a car accident settlement. A Fort Lauderdale personal injury lawyer will consider each of the following factors to determine how much compensation to seek in your particular car collision case. 

Severity of Injuries

The extent of your injuries plays a critical role in determining settlement amounts. More severe injuries, such as fractures, spinal cord injuries, or traumatic brain injuries (TBIs), typically lead to higher compensation due to increased medical expenses and prolonged recovery times.

Medical Expenses

Your medical bills are a significant component of the settlement calculation. This includes not only current medical costs but also future expenses related to ongoing treatment, rehabilitation, or necessary medical equipment.

Lost Wages

If your injuries prevent you from working, you may be entitled to compensation for lost wages. This includes both past income lost during recovery and potential future earnings if your ability to work is impacted long-term.

Pain and Suffering

Compensation for pain and suffering reflects the physical and emotional distress caused by the accident. This can be subjective and varies based on the individual circumstances of each case.

How Florida’s No-Fault Policy and Serious Injury Threshold Can Affect Your Car Accident Settlement

Florida operates under a no–fault insurance system, which means that after a car accident, each driver typically seeks compensation from their own insurance provider, regardless of who caused the accident. 

This system is designed to streamline the claims process and reduce the number of lawsuits. However, it also imposes certain limitations on the types of claims that can be pursued, particularly regarding the compensation available for injuries.

Personal Injury Protection (PIP)

Under Florida Statutes § 627.7407, drivers are required to carry Personal Injury Protection (PIP) insurance, which covers medical expenses and lost wages up to a certain limit, usually $10,000. 

This coverage applies regardless of fault, allowing for quicker access to benefits. However, PIP benefits may not cover all expenses, especially in cases of severe injuries or long-term medical needs.

Serious Injury Threshold

To step outside the no-fault system and pursue a personal injury lawsuit, your injuries must meet Florida’s serious injury threshold as defined in Florida Statutes § 627.737. The law specifies that serious injuries include:

• Permanent injury that is expected to result in permanent impairment.
• Significant and permanent loss of an important bodily function
• Significant and permanent scarring or disfigurement
• Fractures
• Death

If your injuries meet this threshold, you may be eligible to file a lawsuit against the at-fault driver, which can significantly affect your potential settlement. 

Additional Compensation You Can Seek Through a Car Accident Lawsuit

Stepping outside the no-fault system allows you to seek compensation for a broader range of damages, including:

• Full medical expenses: Unlike PIP, which has caps, a personal injury lawsuit may cover all medical costs related to your injuries, including future treatment.
• Pain and suffering: You may be able to claim damages for physical pain, emotional distress, and loss of enjoyment of life, which are often not compensated under PIP.
• Lost wages and earning capacity: If your injuries hinder your ability to work, you can pursue compensation for both past and future lost income.

How a Lawyer Will Help You Maximize Your Car Accident Settlement

Hiring a lawyer can help you seek the car accident settlement you deserve for your injuries and damages. To strengthen your case, your lawyer will collect and organize crucial evidence, such as:

• Medical records: Documentation of your treatment, prognosis, and any long-term care needs.
• Accident reports: Official reports that detail the circumstances of the accident.
• Witness statements: Accounts from individuals who saw the accident or can attest to your injuries and their impact on your life.
• Expert testimony: In some cases, professional testimony may be needed to establish the severity of your injuries or the accident’s impact.

Armed with evidence and expert opinions, a lawyer will present a compelling case to the insurance adjuster. If the insurance company makes an initial offer that is inadequate, an attorney will negotiate or potentially file a personal injury lawsuit. 

Keep in mind that the statute of limitations for filing a personal injury lawsuit in Florida is typically two years. If you miss this deadline, you risk losing all legal rights to secure compensation from a liable party. 

Our Car Accident Lawyers Will Fight for a Fair Settlement

If you are wondering what the average car accident settlement is, you could benefit from a free consultation with The Schiller Kessler Group. Though there is no average car accident settlement, our lawyers will determine the compensation you deserve and fight for it. 

Our lawyers have over three decades of experience. Call us today to discuss your case during a complimentary, no-obligation consultation. We will explain more about your legal options and how we will help you.