I got rear ended. How much money will I get?
If you or your loved one recently got rear-ended in an accident, your first priority is recovery. Unfortunately, recovery can be expensive. Soon, you may find yourself doing a search for, “I got rear ended how much money will I get.”
Many people mistake personal injury claims for greed. Most personal injury claims are brought about by people who are genuinely injured or their families. Money can never replace a life and rarely undoes a disability, but it does help to prevent things from spiraling out of control.
Find out the maximum compensation you could receive.How Much is Your Injury Claim Worth?
How Is Your Settlement Calculated?
No matter how strong a case is and how well you have documented all the property damage and injuries, there is no way to guess exactly how much money you will get. This is because the insurance company may try to pay less than you request.
The court may also surprise you by denying portions of your claim or awarding you far more than you ask for in non-economic damages. Big payments for pain and suffering are often used to make an example out of the responsible party when there is evidence of gross negligence.
The easiest aspect of your claim to calculate is the economic damages. As the name implies, these are the things that have a direct financial impact on you and your family. Common examples include the following:
• Deductibles and other health insurance payments
• Cost of damages to your vehicle or other personal property
• Loss of income from missed days of work
• Late penalties and fees for missed bills
• Funeral expenses
• Estimates of future expenses related to injuries
Your attorney can work with your doctor to ensure you get all the documentation you need. If you do not yet have a lawyer, then be sure to save and safely store all receipts, invoices, medical records and other documentation related to the crash and its aftereffects.
Also known as “pain and suffering,” non-economic damages are a lot more difficult to estimate. One of the most common ways to calculate this amount is to add up all the economic damages and multiply the amount by a number ranging from one to five. The more severe the damages caused by the crash, the higher the multiplier used. Here are a few other factors that may lead to increased non-economic payments:
• Gross negligence on the part of the driver, the company that hired them, the manufacturer or the insurance company
• Loss of a loved one
• Development of permanent, life-changing disabilities
• Development of PTSD or other psychological problems
• Presence of dependents who relied on the support of the injured or deceased person
• Dash cam footage or consistent witness statements that make determining fault easy
What Is the General Range?
Now that you know what impacts the final settlement amount, you can use this to decide where you might fall on a spectrum from a few thousand dollars to more than a hundred million dollars. Many cases settle for less than $10,000. Generally, if a case is worth only a few hundred dollars, it’s not worth going to court.
One of the highest rear-end collision settlements was a $150 million verdict levied at Chrysler. It occurred after a 2012 Grand Jeep Cherokee burst into flames when a pickup truck struck it from behind. A young boy died in the fire. The court found that Chrysler’s faulty design and manufacturing should shoulder 99% of the blame, while the driver received only 1% of the blame.
Should You Hire an Attorney?
Before getting caught up in “I got rear ended how much money will I get” search results, contact an experienced car accident injury attorney. While they cannot give you an exact dollar value for your case, they can tell you its potential value.