What’s the Average Car Crash Settlement in Florida?
Most car crash settlements include gag orders or nondisclosure agreements. So, no one can determine, with any degree of accuracy, the average car crash settlement amount. However, we do know that the average economic car crash losses, mostly property damage and medical bills, is over $100,000. This figure is the starting point for the average car crash settlement, which also includes compensation for emotional distress and other noneconomic losses.
Here’s another thing we know. The average attorney-negotiated car crash settlement is over three times higher than the average non-attorney-negotiated car crash settlement. So, unless victims partner with a Tampa personal injury lawyer, they’re literally leaving money on the table. Most families were barely making ends meet before a crash. They need every dollar they can get to put their shattered lives back together.
Determining the Settlement Value
Most car crash cases settle out of court. Properly determining the settlement value, which is like a used car’s asking price, sets the stage for maximum compensation in these cases.
First, a Tampa personal injury lawyer considers economic losses, which were mentioned above. Medical expenses are usually the largest category. At an average cost of $10,000 per day, hospitalization costs add up quickly. Later medical treatment, such as physical therapy, is often just as costly.
Property loss could be almost as large. Most new cars and trucks cost at least $30,000. Additionally, the family car usually has an emotional value which, in many cases, exceeds its financial value.
A Tampa personal injury lawyer isn’t a doctor or a mechanic. But a lawyer connects victims with doctors who accurately diagnose and treat their damaged bodies, and with mechanics or other providers who accurately diagnose and repair (or more likely replace) their damaged vehicles.
A settlement must also account for future economic losses, such as future lost wages. If Tim is disabled in a car crash, that injury all but eliminates his future earning capacity.
Part two of this determination, noneconomic losses, is more art than science. To calculate a fair amount of noneconomic losses, an attorney considers many factors, such as:
- Degree of pain and suffering,
- Ability to prove pain and suffering through medical bills or expert testimony,
- Victim’s motivation to settle quickly,
- Insurance company’s desire to fight the case, and
- Legal issues involved.
These legal issues usually include first party liability (ordinary negligence, negligence per se, etc.), third party liability (dram shop, respondeat superior, etc.), and possible defenses (comparative fault, last clear chance, etc.).
Closing the Deal
Setting the settlement value, while important, isn’t even half the battle. An attorney must be a good negotiator and seal the deal, usually at mediation.
Mediation is a court-supervised settlement negotiation session that usually occurs toward the end of the process. Informal settlement talks often stall or break down. Mediation jumpstarts them.
As mentioned, meditation occurs just before trial. Both sides are usually anxious to avoid an expensive and protracted trial. Furthermore, during mediation, both sides have a duty to negotiate in good faith. Negotiating in good faith is like playing Texas Hold ‘Em with all cards face up on the table.
Mostly because of these two things, civil mediation is about 90 percent successful in Hillsborough County.
Reach Out to a Diligent Hillsborough County Lawyer
Injury victims are entitled to important financial benefits. For a confidential consultation with an experienced job injury lawyer in Tampa, contact Kobal Law. Our main office is conveniently located near Tampa Bay Downs.
Source:
crashstats.nhtsa.dot.gov/Api/Public/ViewPublication/813403.pdf
