If you have been involved in a car accident, you’re probably facing mounting medical bills, insurance payments, lost income from time off work and other financial obligations, not to mention your physical injuries and emotional distress. Auto wrecks always seem to happen at the worst possible time, and they can leave you facing issues you never thought you would have to deal with.

A car accident payout as part of a car accident settlement can help reimburse you for damages you suffered and expenses you’ve incurred as a result of a car accident that was not your fault. The payout from your car accident lawsuit settlement can make up for lost wages, physical or psychological trauma, and the cost of repairing or replacing your car.

How are car accident payouts calculated?

There is no exact formula for calculating the average car accident payout. If you only sustained damage to your car, you’ll typically be reimbursed based on the policy limits. Just like no two car accidents are the same, with different facts and circumstances, no two car accident payouts are the same. The payout in your car accident lawsuit will be determined by a careful examination of the facts of your case, the damages you suffered, and the insurance carrier’s rules for payouts.

Pain and suffering compensation is only awarded when you have been physically injured as a result of the car accident. Therefore, it’s important to be examined by a doctor immediately after an accident, even if you don’t think that you’ve been hurt. In many cases, injuries are not immediately apparent and can take days, weeks, months, or even years to become noticeable. Even if you feel ok after a car accident, it’s a good idea to be seen by a doctor to determine if you have suffered any internal injuries or injuries that are not noticeable at the time.

For example, some car accident crash injuries, such as whiplash, may not become evident until a few days after the crash. If you’ve waited too long to seek medical care for your car accident injury, you might not be compensated for the injury.

If you want to get a rough estimate of how much to expect from a car accident settlement, a good rule of thumb is to:

  1. Add up your expenses for medical bills, car repairs, and lost wages.
  2. Multiply that sum by three.

So, for example, let’s say you were injured in a car accident and paid $4,000 in doctor’s bills and also missed one week of work, which made you lose $2,000 in income. Your average car accident settlement would be approximately $18,000, because your total damages of $6,000 multiplied by three equals $18,000. Based on this estimate, your car accident payout is likely to fall somewhere between $14,000 and $28,000, depending on the exact circumstances of your accident.

Keep in mind, your car accident payout is generally higher for more severe or permanent injuries. You’ll also get paid more if the other driver was found to be driving under the influence or was grossly negligent in operating their vehicle, causing the accident.

Another important note is that when you’re filing an injury claim with the other driver’s insurance company, you’re limited by their policy maximum, not your insurance coverage. For example, if you suffered $30,000 in damages, but the other driver’s insurance limit is $20,000, you might need to sue the individual separately to reclaim the additional $10,000, because their insurer would only cover up to the policy limit of $20,000. Or, you might be able to file a claim with your insurance company if you have under-insured motorist coverage to recover the additional damages.

Where does the average auto accident payout come from?

If you’ve been involved in a car accident, your car insurance policy or the other driver’s coverage might be responsible for compensating you for injury and damages. If you have collision coverage on your own vehicle and the crash was your fault, the insurance company will pay a certain amount to fix your car. If the cost to repair the damages is more than the value of your vehicle, the insurance company may consider your car totaled and give you a lump sum based on how much it’s worth.

When the wreck was caused by another driver’s negligence, his or her insurance company should compensate you for any losses, damages, pain and suffering. The sum that the company offers may be much lower than you expect.

It’s easy to get reimbursed for funds that you’ve paid out. It’s challenging to put a fair price on pain and suffering.

What kind of payout should I expect from a car accident?

While we’ve outlined a rule of thumb for estimating the kind of payout you could expect from a car accident, a variety of factors go into deciding the average payout for a car accident.

A judge or jury who hears your case will take into account:

  1. The types of injuries
  2. Treatment plan
  3. Length of therapy
  4. Loss of income
  5. Severity of the wreck
  6. Other factors

In most cases, a payout is only offered when the medical treatment has been completed. Permanent injuries will influence the amount of compensation that you receive.

If you’re working with an insurance company on a payout after a car wreck, let them know if you’re still going through medical treatment so that you don’t settle for less than you deserve or need to cover all your medical bills.

Contact a Car Accident Payout Attorney

Working with a qualified car accident lawyer can help you receive a reasonable payout for your car accident damages. The compensation your attorney gets for you may exceed the amount that the insurance company would offer you if you didn’t hire an attorney. A car accident attorney will help you present every detail about your case to the insurance company or a judge. He or she might bring up information that you would have missed if you did the negotiations yourself.

Keep in mind, it’s the insurance company’s job to offer you the lowest acceptable amount for a settlement. That’s how these companies make their own income and profits. An insurance adjuster may try to prove that you were not seriously injured or that your vehicle can be repaired instead of deemed totalled. They may claim that you were able to go to work after the accident.

A car accident payout lawyer will fight for your rights and protect you if you’ve been injured in an auto wreck. You’ll need to document everything related to the accident, including vehicle damage, medical care you’ve received as a result of the accident, and other damages. If a doctor can vouch for missed work days and the medical treatment that you have received, you should be able to recover the money that you’ve lost.