Typical Car Accident Settlements
If you get injured in a car accident in Texas, you may be wondering if it is worth pursuing a higher settlement. While there is no set standard, there are ranges for typical car accident settlements. They can vary greatly depending on the nature of the case.
Knowing how car accident settlements work helps you manage claims better. This way, you can get the compensation you deserve. The sooner you consult an attorney, the better positioned you will be to maximize your settlement.
Factors That Affect Car Accident Settlements
Several key factors influence the amount of a car accident settlement, including:
- The Severity of Your Injuries: More severe injuries, such as traumatic brain injuries or spinal cord damage, typically result in higher settlements due to increased medical expenses and long-term care needs.
- Medical Expenses: Costs for emergency care, surgeries, rehabilitation, and future medical treatment play a significant role in determining settlement amounts.
- Lost Wages and Reduced Earning Capacity: If your injuries prevent you from working, either temporarily or permanently, your settlement may include compensation for lost income.
- Pain and Suffering: Non-economic damages, such as emotional distress and loss of enjoyment of life, can significantly impact the final settlement amount.
Texas follows a modified comparative negligence rule, which means that if you share some responsibility for the accident, your settlement may decrease. If you are more than 50% responsible, you may not recover damages.
Average Car Accident Settlement Amounts
While settlement amounts vary, there are general figures based on the severity of injuries:
- Minor Injuries: $10,000 – $25,000
- Moderate Injuries: $25,000 – $75,000
- Severe Injuries: $100,000 – $1,000,000+
Cases involving catastrophic injuries or wrongful death may result in settlements or jury verdicts exceeding $1 million, especially if there is substantial evidence of negligence.]
What Kinds of Damages Can I Receive for My Injuries?
In Texas, car accident victims may receive both economic and non-economic damages:
Economic damages include out-of-pocket expenses related to the accident, such as:
- Medical bills, including emergency care, surgery, and rehabilitation
- Lost wages and loss of future earning potential
- Property damage repairs or replacement
- Out-of-pocket expenses related to the accident
Non-economic damages are harder to prove, but make up a significant portion of personal injury claims:
- Pain and suffering
- Emotional distress
- Loss of enjoyment of life
- Loss of consortium
In cases of intentional or reckless conduct, a court may award punitive damages. These are not meant to compensate the victim, but instead punish the negligent party.
Steps to Maximize Your Car Accident Settlement
To ensure you receive fair compensation, follow these important steps:
- Seek immediate medical attention. Prompt medical treatment documents your injuries and establishes a clear link to the accident.
- Gather evidence. Collect photos of the accident scene, witness statements, and police reports.
- Keep records of expenses. Maintain records of all medical bills, lost wages, and other accident-related costs.
- Consult an experienced attorney. A personal injury lawyer can help you negotiate with insurance companies and fight for the maximum compensation possible.
Avoid accepting low settlement offers. Insurance companies may offer a quick, low settlement in hopes of closing the case quickly. Be sure to evaluate all offers before accepting.
How Long Do You Have to File a Car Accident Lawsuit in Texas?
Under Texas law, the statute of limitations for personal injury lawsuits is two years from the date of the accident. If you fail to file within this period, you may lose your right to pursue compensation. Exceptions may apply in certain cases, such as when the injured party is a minor.
A Bedford Car Accident Lawyer Can Help
If you have suffered an injury in a car accident, you must understand your legal rights and the potential value of your claim. Talking to a skilled personal injury lawyer in Bedford can help you through the claims process. They will also fight for the compensation you deserve.
Don’t settle for less than you deserve. Reach out today to discuss your case and explore your legal options.
Contact the Car Accident Law Firm of Parker Law Firm Injury Lawyers in Fort Worth for Help Today
For more information, please contact an experienced car accident lawyer at Parker Law Firm Injury Lawyers to schedule a free initial consultation today. We have convenient locations in Fort Worth and Bedford, Texas.
Parker Law Firm Injury Lawyers – Fort Worth
209 N Hampton St,
Fort Worth, TX 76102
(817) 510-9400
Parker Law Firm Injury Lawyers – Bedford
2317 Plaza Pkwy #100,
Bedford, TX 76021
(817) 503-9200
