The amount of money you receive as a settlement for your car accident claim depends on the particular circumstances of your case. The insurance company for the party at fault for your crash will offer you a settlement, but it is up to you to decide how much money to accept. Factors that go into determining how much you should seek include:

● The severity of your injuries.

● The cost of your medical care.

● The amount of lost wages you have incurred. 

What Is a Car Accident Settlement?

An agreement between two or more parties to resolve a legal claim is called a settlement. In car accident cases, a settlement is an arrangement in which injured crash victims can receive money from the person or people who caused the accident.

In most car accident settlements, the injured person agrees to accept money from the person who caused the accident (usually through that person's insurance policy). In exchange, the injured person agrees not to sue the person who caused the accident.

Most settlements are final and legally binding, meaning the crash victim cannot file a lawsuit or continue with a lawsuit they have already filed. Once the settlement is signed, it cannot be changed. The victim must ensure that the settlement is the best possible option for their case.

The lawyers representing the people hurt in the crash talk to the other side's lawyers (or insurance adjusters) to agree on how much money the hurt people should get. The lawyers also tell their clients whether the offers from the other side are fair and whether to accept or reject them.

What Determines Car Accident Settlement Amounts?

The amount you receive from a settlement depends on many factors, such as the severity of the accident and your injuries. Your settlement will be based on your unique circumstances.

1. Your Total Damages

As the victim of a car accident, you may be legally entitled to financial compensation from the at-fault party. The first step in any settlement negotiation is determining the amount of money you are entitled to under the law. The amount of money you may be entitled to receive will differ depending on the facts of your particular case.

A good lawyer will work with you and your family to determine how much you should be compensated for your injuries. This includes adding up your medical bills, predicting future costs, and speaking to you about the emotional and physical challenges you have faced since the accident.

The process of calculating your damages ultimately boils down to a single number. This number, which reflects the maximum amount of money you should get for your injuries and losses according to the law, will serve as the baseline for evaluating any settlement offers you receive.

2. Your Case's Strengths and Weaknesses

In an ideal world, you would receive total damages from the at-fault party and their insurer without any questions. However, this is rarely how things work in reality. Instead, the at-fault party's defense lawyer and the insurance adjuster will look for ways to reduce your total damages and pay you less. They will raise these reasons during settlement negotiations with your lawyer, using them as leverage to get you to agree to a lower amount.

To prepare for this process, your lawyer must be able to see the strengths and weaknesses of your car accident case. This assessment is to see how much evidence and legal rules you have to show that the other person is at fault and liable for your damages.

The more information you have about the event, the responsible party, and the damages suffered, as well as a clear understanding of the legal principles involved, your case will be stronger. Some cases have all of this information, but many don't.

If the evidence in your car accident case is not clear-cut, or if there are complicated issues about who is to blame, it can affect the value of your claim. A lawyer who realistically assesses these factors may advise their client to accept a settlement for less than their total damages.

3.Available Funds to Pay You

In addition to calculating your total damages and taking into account the strengths and weaknesses of your case, there is one more important factor to consider: how much money do the at-fault party and that party's insurance company have to pay you?

The at-fault party's liability insurance will usually pay for most, if not all, of your settlement after a car accident. The at-fault party may pay part of the settlement, but this is usually a small amount compared to the total you receive.

The at-fault party's liability insurance policy limits are necessary because they may determine the maximum amount of any settlement you might receive, depending on the size of your total damages.

Experienced car accident lawyers often have to look deep into the evidence to find as many at-fault parties as possible. The more at-fault parties they can find, the less likely their client will have to settle for much less than they deserve.

One Thing to Remember

If you and the other party can't agree, your lawyer may tell you that the best course of action would be to take it to court. Your lawyers will present the evidence and arguments supporting your case, and the judge and jury will decide.

Choose a car accident lawyer with a history of negotiating high settlements and winning cases in court. Look for an attorney with a track record of successful case results in similar situations and a good reputation for winning complex cases for clients in your area.

Conclusion

If you have been injured in a car accident and are considering a settlement, you should understand the factors determining settlement amounts. Settlements are not always the best way to handle your accident case, but they can be useful, especially if you have a strong case and want to ensure you will be fairly compensated.

Once you understand how settlements work, you can work with your lawyer to get the best settlement possible based on your particular set of facts, circumstances, and goals.

While other firms just handle your bodily injury claim, Mendez and Sanchez Law offers a complimentary full-service package where we will also handle your property damage for no fee! We operate on a contingency fee basis, and our contingency fee policy guarantees that our clients aren’t putting their own finances at risk. If you were hurt or lost someone close to you in a crash that another person caused, you may be entitled to compensation for all resulting medical bills, lost income, and other damages. Our car accident lawyer in Los Angeles, CA, can help you fight for the highest possible settlement. Call us today at (323)201-5249 for more information.