The average car accident settlement depends on the severity of your injuries, your medical expenses, the types of damages you endured, and the level of insurance coverage at play. As a result, the amount of money victims receive varies on a case-by-case basis.
As the victim of a collision, it’s reasonable if one of your pressing questions is, “What is the average settlement for a car accident?” While the answer varies depending on a range of factors, it helps to understand how car accident settlements work.
When you hire a New Orleans car accident lawyer to represent you in your case, your attorney can let you know what will influence the total amount of your settlement based on the details of your case. Your legal counsel can also help maximize the value of your claim.
Factors that Influence the Average Car Accident Settlement
As mentioned, the value of the average car accident settlement often varies based on many factors. While it’s difficult to provide an exact figure due to the number of variables at play, understanding these details can give you a better idea of what to expect from your claim.
Severity of Your Injuries
The severity of the injuries you sustained in the collision will play a major role in determining the settlement amount. Serious injuries—like broken bones, traumatic brain injuries (TBI), spinal cord injuries, or injuries requiring long-term rehabilitation—often lead to higher settlements.
These injuries typically incur high medical bills, and the physical and emotional toll on the victim can be considerable. The more severe the injury, the higher the potential compensation.
Your Medical Expenses
The costs of your medical treatment are another factor that is taken into account when deciding the settlement amount of your personal injury claim. Car accident victims tend to require immediate treatment, including hospital visits and surgical procedures.
In addition to these immediate costs, ongoing medical treatment—such as physical therapy, chiropractic care, prescription medications, and at-home healthcare—can also contribute. In many cases, the more extensive the treatment, the higher the settlement amount.
Any Damages You Sustained
The extent of the damage caused to your vehicle can also affect the settlement. If your car was damaged or totaled in the collision, you could be entitled to compensation for the costs of either repairing or replacing the value of your vehicle.
In some cases, car accident claims might also involve compensation for other property that was damaged, such as personal belongings that were inside the car. Furthermore, if you are unable to work due to the injuries you sustained in the collision, lost wages will also be considered.
This not only includes the wages you have already missed but it also considers future wages that you may miss out on as a result of your long-term injuries. Last but not least, the amount of money you receive may also aim to compensate you for the pain and suffering you endured.
Insurance Coverage
The insurance coverage of both the at-fault driver and the victim of the crash will likely impact the settlement amount. Louisiana follows a fault-based system, meaning the driver responsible for the accident is required to pay for the damages.
However, if the at-fault driver’s insurance policy has low limits, it may not cover the full extent of your damages. In cases like these, your insurance policy—such as underinsured motorist coverage—can help fill the gap, provided you have the appropriate coverage.
Factors that Can Reduce Your Settlement as the Victim of a Car Accident
While some factors can increase your settlement, others have the potential to decrease the amount you’re awarded. These factors may include—but are not limited to—the following:
- Pre-existing conditions: If you had a pre-existing medical condition that was aggravated by the collision, the insurance company may argue that your injuries are not entirely due to the accident. This is intended to reduce the total value of your settlement.
- Delay in treatment: If there is a major delay in medical treatment after the collision, the insurance company might argue that your injuries are not as serious as you’ve claimed they are. In turn, their argument might lower your settlement amount if it’s successful.
Statute of Limitations for Car Accident Claims in Louisiana
If your injury happened in Louisiana on or after July 1, 2024, you usually have two years to file a claim. But if your accident happened before that date, you will usually only have one year from the day of the incident to take legal action.
This means that you must file your lawsuit before the statute of limitations expires, though this timeline is called a prescription period in Louisiana. If you fail to file within this timeframe, you are putting your legal right to pursue compensation at risk altogether.
To make sure you do not miss any deadlines associated with your case, contact a New Orleans car accident law firm as soon as possible. When you meet with attorneys who have experience handling cases like yours, they can tell you the exact timeline that applies to your situation.
Contact Our Car Accident Law Firm in New Orleans Today to Schedule a Consultation
If you were involved in a collision, you might be wondering what the average car accident settlement is and what you can expect to receive. At Cueria Law Firm, we fully understand your curiosity.
However, the amount of money you could receive as compensation depends on the specific details of your case. To learn how much compensation you can expect to receive as the victim of a crash, you’ll want to speak with a New Orleans car accident attorney as soon as possible.
With over 30 years of experience handling personal injury cases, we’ve recovered millions of dollars. You can trust us to pursue the maximum amount of compensation possible in your case.
