What Is the Average Auto Accident Settlement in Texas? Recent Examples and More
A Texas auto accident settlement could be worth a few thousand dollars or as much as millions of dollars. The value of a car accident settlement depends on the facts of your case. Therefore, quoting an average amount for car accident settlements in Texas is challenging.
It is unwise to base how much your car accident case is worth on the settlement in other personal injury cases. Your case could be worth much more money than you realize. Basing a car accident settlement on other cases could result in a much lower settlement amount.
Instead, it is better to talk with an experienced Bedford car accident lawyer. An attorney reviews your case to advise you of your legal options and what you can expect for settlement. The lawyer also helps you understand what factors can impact the settlement of your car accident claim.
What Factors Affect the Settlement Value for a Car Accident Claim in Bedford, TX?
Each car accident case is different. The factors that impact one case might not be relevant in another. Additionally, some factors could increase the value of your case, while other factors might decrease its value.
Common factors that we analyze when calculating the value of a car accident settlement include, but are not limited to:
- The types of injuries you sustained and the medical procedures required to treat your injuries
- The duration of your recovery period after a car accident
- Whether you develop permanent disabilities or impairments because of your injuries
- Your appearance before and after the car crash (i.e., level of scarring and disfigurement)
- The parties involved in the car accident case
- The availability of insurance coverage and the policy amounts
- Allegations of contributory fault (i.e., you are partially to blame for causing the car accident)
- The strength of the evidence proving causation, fault, and liability
- Whether you attempted to mitigate your damages, such as receiving prompt medical treatment and following your doctor’s orders
While your attorney does not control the factors involved in your case, they can work to maximize compensation by focusing on factors that increase the value of the claim. They also work to minimize the impact of factors that could lower how much your car accident settlement is worth.
What Damages Are Included in the Average Car Accident Settlement in Texas?
Car accident settlements include compensatory damages. The damages compensate you for financial losses (economic damages) such as:
- Past and future medical bills, including surgeries, hospitalizations, emergency care, rehabilitative therapies, and more
- Out-of-pocket expenses for personal care, household services, and travel to and from medical appointments
- The loss of income, including future lost wages and diminished earning capacity
Car accident settlements can also include compensation for your pain and suffering damages. These damages are called non-economic damages and include:
- Pain and discomfort caused by physical injuries
- Loss of enjoyment of life and decreased quality of life
- Psychological harm, including mental anguish and emotional distress
- Disfigurement and scarring
- Permanent disabling conditions and impairments
Careful documentation of all damages after a car accident increases the value of a settlement. Suppose you sustain severe injuries that cause future damages. In that case, an attorney may work with financial professionals, medical specialists, and other experts to gather evidence supporting the amount claimed for ongoing and future losses and damages.
What Is a Final Settlement Agreement for a Car Accident Claim?
A final settlement often refers to a settlement agreement. Settlement agreements resolve a dispute. Neither party accepts blame, but one party agrees to pay an amount to the other party in exchange for a release of claim.
When you sign a settlement agreement for a car accident, you waive all rights to file a lawsuit or pursue claims related to the accident. In other words, you give up your right to seek more money, even if you discover you have additional damages or claims.
Therefore, it is crucial that you understand what you are giving up when you agree to a settlement offer. The insurance company will not tell you if you are accepting an offer that is lower than the actual value of your damages.
Should I Accept a Car Accident Settlement in Texas Without a Lawyer?
The insurance adjuster may pressure you to accept a settlement offer without talking to an attorney. The insurance company would prefer to handle the claim without a lawyer. Hiring an experienced Bedford car accident lawyer means you could learn your case is worth more than the settlement offer.
Personal injury lawyers in Bedford offer free consultations. Therefore, you have nothing to lose by talking to an attorney before signing a settlement agreement for a car accident in Texas. Also, talking to an attorney promptly is advisable. The Texas statute of limitations restricts your time to file a lawsuit. You’ll want to act quickly to protect your rights.
Contact the Bedford Car Accident Lawyers at Parker Law Firm Injury Lawyers 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 Bedford and Fort Worth, Texas.