If you are injured in a car accident caused by someone else, you have a right to seek compensation for your losses, such as lost wages, medical expenses, and emotional trauma.
However, the amount of money you can expect to receive in a car accident settlement depends on several factors, including the amount of fault assigned, the severity of your injuries, and the type of vehicle involved.
Remember that each collision is unique, and there is no standard formula for calculating an accident settlement.
This article discusses some of the critical factors that can influence the compensation you receive in detail. Read on to find out everything you need to know.
Fault and Liability
The amount of money you recover in a car accident settlement depends largely on who is found at fault for causing the crash. If the other driver is determined to be more than 50% responsible, then it’s possible to seek full compensation from them and their insurance company.
If both drivers are found to be partially responsible, then the settlement will likely depend on each driver’s degree of fault.
In this case, the comparative negligence rule will likely be used to determine how much money you are entitled to in compensation.
For instance, if you are found to be 25% responsible for the accident, and you sustained damages worth $50,000, then you can seek full compensation from the other driver, who is 75% responsible. However, your settlement may be reduced by 25%, so you would likely only receive $37,500.
Severity of Injuries
The severity of your injuries also plays a role in determining how much money you can expect from a car accident settlement. Generally, the more severe or permanent your injuries are, the higher your compensation will be.
For instance, if you suffer a broken bone in a collision, you may receive less than if you suffered severe head trauma that required long-term care and resulted in physical disabilities.
Your medical records will be used to determine how much your injuries impacted your life and how much compensation you should receive.
However, it doesn’t mean you shouldn’t seek compensation for less severe injuries. As long as you have been hurt as a result of the accident, you are entitled to reimbursement for your medical bills and other costs.
Evidence Gathered
The outcome of your car accident claim largely depends on the evidence gathered and presented. Any reports, photos, videos, or witnesses will be used to determine who is at fault and the amount of compensation you should receive.
The more solid evidence you have collected in support of your claim, the higher your chances are that a court or insurance company will award you the money you deserve. That is why it is important to collect as much evidence as possible after an accident.
Be sure to take pictures of the scene, get contact information and statements from witnesses, and keep any documents, such as medical records or police reports related to your injuries.
You should also speak to an experienced personal injury lawyer who can help you gather evidence and understand your rights.
The Consistency in Your Story
Many people tend to forget that their actions can affect the outcome of a settlement. To receive the best possible compensation, it is important that you are consistent in your story and don’t contradict yourself or any other witnesses involved in the case.
Any inconsistencies between what you say happened and what other parties say happened can weaken your claim and the amount of money you are entitled to receive.
One of the best ways to ensure that your story is consistent is to write down what happened as soon as possible after the accident. This will help you keep track of your statements and ensure they are consistent in each account.
Type of Vehicle Involved
The type of vehicle involved in an accident can also have a major impact on your settlement.
For instance, if the other driver had a larger vehicle, such as a truck or SUV, they may be more liable for your injuries than if they had been driving a smaller car.
This is because larger vehicles can cause more damage in the event of an accident, so the driver may be held more responsible for any resulting injuries. This could mean you receive a higher settlement amount from their insurance company.
Post-Accident Lifestyle
Your lifestyle long after the car accident can significantly impact the amount of money you receive in a settlement.
If your lifestyle changes drastically due to an accident, you can seek maximum compensation for any long-term losses or expenses incurred as a result.
For example, if you have to take time off work or incur additional medical bills due to the crash, these can be factored into your settlement amount.
It is also important to remember that you can be compensated for the pain and suffering caused by an accident. This could include emotional distress, loss of enjoyment in life, or any other negative impact on your mental health.
On the contrary, if your lifestyle after the accident is inconsistent with the injuries you claim to have suffered, this could result in a smaller settlement.
If you are caught engaging in activities you would not be able to do if your injuries were as severe as you claim, it can weaken your case and reduce the amount of money you receive.
Insurance Company Tactics
Finally, it is important to understand that insurance companies often use tactics to reduce the amount of money they pay out on car accident settlements.
It is common for them to try and delay the process in order to reduce their liability or to offer a significantly lower settlement amount than what you deserve.
It is important to be aware of these tactics so that you can protect yourself from being taken advantage of.
An experienced personal injury lawyer can help you navigate these issues and ensure you receive the money you deserve for your injuries.
Conclusion
Ultimately, many factors can affect the amount of money you receive in a car accident settlement.
The most important thing is to gather evidence, be consistent in your story, understand how the type of vehicle involved and your post-accident lifestyle can impact the settlement, and be aware of any insurance company tactics.
An experienced personal injury lawyer can help guide you through the process and fight for the highest possible compensation.