Is There An Average Settlement For A Car Accident?

Is There An Average Settlement For A Car Accident In Florida?

A car accident can be a traumatizing event for the parties involved, injuries notwithstanding. There is always a question of how much the average compensation amount for an accident is, but in all honesty, there is no formula for predicting the answer to that. An evaluation by a car accident attorney is needed to get the best compensation deal for you. This amount majorly depends on the extent of injuries, insurance policy, and nature of the accident.

How Are Car Accident Settlements Determined

The amount of money you get from a settlement highly depends on the specific details of the accident.

Under Florida law, once involved in an accident, one should call law enforcement if the accident resulted in:

1. Death
2. Property damage of more than $500
3. Personal Injury

In addition to having documents on the damages caused by the accident, it is important to have records of:

• Cost of continued care in the case that you suffered serious injuries
• Cost of car repair or at least the estimates
• Hospital and related bills
• Lost wages

This information is important in determining the amount you will be compensated for during a settlement.

Factors Affecting Florida Car Accident Settlements

Settlement amounts are affected by many factors such as:

No-Fault Insurance Policy

This law dictates that people that have sustained injuries during an accident need to first claim coverage from their insurance.

Anyone that wishes to file a claim against the at-fault person should do so outside of the no-fault policy.

This requires one to meet the eligibility requirement which is having obtained serious injuries from the accident.

Serious injuries in this case are;

1. An injury that has caused the loss of a bodily function
2. Permanent or significant disfigurement
3. Permanent injury
4. Significant and/or permanent scarring

Calling your insurance provider should be one of the first things to do once you get into an accident, minor or major. You should also contact the authorities, seek medical help, and consult an attorney. Under this law, you can start receiving compensation even before the at-fault person is established.

Personal Injury Protection Policy (PIP)

Drivers in Florida are required to have a PIP coverage of $10,000, on the lower side. .This coverage is vital in seeking coverage for an accident. Through a PIP, one can receive coverage on the following;

1. $5,000 in death benefits
2. Compensation for travel expenses to doctor visits
3. Up to 80 % of all medical bills
4. Up to 60% of wages lost

There are, however, limitations to the PIP coverage.

1. Not All Damages Covered: PIP policy does not cover pain-related damages. These costs may however be recovered through a third-party claim with an attorney.
2. Benefit Limits: The PIP policy does not cover anything beyond $2,500, This means that the policy will not cover major medical procedures.
3. Time-Frame For Medical Coverage: In order to get full coverage for costs related to medical treatment, one should not exceed 14 days before seeking medical treatment.

Caps On Damages Awarded

These are the legal limits on the amount of money one can receive for damages as filed in personal injury cases.

Car accident settlement processThis also limits the costs covered, such as emotional and mental health. In Florida, however, these can be eligible through witness testimony and a third party claim.

Punitive damages, which are damages awarded to deter or punish the at-fault for their dangerous behavior, are the most common damage caps that one should be in the know about when filing a personal injury claim.

In Florida, the cap on punitive damages does not exceed three times the damages to be compensated. E.g repair costs, medical bills, or an amount not exceeding $500,000 — whichever is greater.

Filing A Car Accident Claim In Florida

To get compensated for damages after a car accident, you can file a third-party claim against the at-fault driver.

Find help from a personal injury attorney to help you reach a fair settlement depending on the details of your case.

We understand how stressful the process of filing a claim can be, especially for someone recovering from an accident and potentially life-threatening injuries. That's why you need to reach out to Boca Law and get a representative from our experienced attorneys who will walk this journey with you to ensure you get the rightful compensation for your troubles. Call us today.

References and Resources

How to file a car accident lawsuit

Single car crash