One of the first questions every auto accident attorney gets from new clients is, “How much is my case worth?” It’s hard to answer this question right out of the gate because every car accident case is different. Many factors go into determining how much a case is worth. Take a look at the individual factors that we take into consideration when we review your case to give you an idea of what to expect as the process plays out.
How Auto Accident Settlements Are Determined
When you’ve suffered injuries after a car accident, it can turn your whole world upside down. It is advisable for you to contact an attorney because you may have to deal with the other driver’s insurance company and attorneys, who will attempt to offer as low a figure as possible in compensation. Your attorney will know how to challenge that figure and counter it with an amount that more accurately reflects your losses and suffering.
There isn’t a set formula to determine your settlement, as it has to combine things that are easy to value with things that are more subjective or based on opinion and point of view. Those things that are easy to value are called special damages. Those that are subjective are called general damages.
Understanding Special and General Damages
“Damages” is a legal term referring to the value of an injury. Special damages are very easy to value, such as medical bills, lost wages, lost potential future compensation, and other things that have a clear monetary value. These form the basis of the value of your case.
General damages are things like your emotional harm, loss of consortium, loss of comfort and relationships, and other problems you might be facing that don’t have a clear cost associated with them. When we value your case, these factors are usually determined using a multiplier of your special damages. So your car wreck lawyer might decide that your general damages are worth three times your special damages. The whole figure, then, is the value we will seek in your case.
What Is the Average Settlement for a Car Accident?
In 2022, the average auto liability claim for bodily injury was $24,211 – up about 4.5% from $23,172 in 2021. The average auto liability claim for property damage was $5,313 – up about 12.8% from $4,710 in 2021 (Insurance Information Institute). Both of these annual averages have steadily increased over the last 10 years.
It’s important to remember that every car accident, claim holder, and car accident case is different, and the average settlement is not a strong indicator of what your unique car accident could be worth. To truly know what your case is worth, you will need to sit down with your attorney, review the details of what happened to you, and let them calculate what they believe they can help you recover.
After that, negotiation comes into the picture. Your attorney will issue a demand letter to the other driver’s insurance company. The insurance company will then issue a response explaining why they think your case is worth less. Offers and demands will go back and forth until a fair settlement amount can be reached.
Attorney Robert White Will Help You Seek What You Deserve
Car accident cases can be time-consuming and complicated, which is why it is so important to have a real West Texas attorney for auto accident cases in your corner. Attorneys Robert White and Greta Braker know how to negotiate and fight for the best possible settlement in your case. Just give us a call at 432-580-5421 for a free case review, and we will talk about what your auto accident case might be worth.
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