Understandably, prospective clients want to know the average settlement for a car accident.
However, there is no specific amount or range because every plaintiff’s accident circumstances are unique.
If you want to learn more about pursuing a car accident claim in New Jersey, contact a lawyer at Wiley Lavender Maknoor today.
What Is an Average Settlement for a Car Accident?
Different factors determine how much a car accident claim could be worth. Even similar accidents can have different results.
That means the average settlement for a rear-end car accident could vary significantly from person to person.
Average Time for Car Accident Settlement Checks to Arrive
Agreeing to settle your car accident claim is one crucial step. Next, you must wait for your settlement to arrive after you sign and return the release of claims.
If an attorney represents you, the process works a little differently. You will not receive a check from the defendant’s insurance company.
Instead, they send the settlement to your lawyer, who deposits it in their escrow account.
Your lawyer will pay any liens or expenses that must be paid and take their fees. Next, they will issue you a check for the remainder of the settlement.
This process can take a matter of weeks or months, depending on the complexity of your case.
Factors that Impact a Car Accident Settlement
Once you understand the factors that impact case value, it will make more sense why there is no average settlement for a car accident.
Some of the most important factors include the following.
Severity of Injuries
The type and severity of your injuries play an important role in determining your case value. Someone with more severe injuries would typically have a higher value.
For example, someone with a broken leg and residual pain could have a lower value than someone with permanent brain damage.
Liability affects your case when you pursue a claim outside the PIP system. You could still collect a portion of your damages even if you are partially responsible.
However, your negligence can’t exceed that of the other party, meaning that if your negligence is 51% or higher, New Jersey negligence laws would likely bar you from recovery.
The available coverage to pay your injury claim also impacts your potential settlement. Consider a case worth $200,000, but there is only $50,000 in available insurance.
To recover any additional money from the defendant, you would likely have to sue them personally.
The amount of your damages is crucial to determining your case value.
Someone with $500,000 in medical expenses obviously will have a higher case value than someone with $100,000.
Contact a New Jersey Car Accident Lawyer
Pursuing a car accident claim in New Jersey can be complicated.
Rather than research the average settlement for a car accident, please speak to one of our experienced lawyers.
We have years of experience assisting injured victims in New Jersey. Let us review your case and advise you on its potential worth.