Factors That Influence the Value of an Auto Accident Claim

A car accident can turn your life upside down in a minute. Sometimes, recovery from a crash is easy and simple. In other instances, you’ll need a lot of time and a lot of money to begin the journey towards reclaiming your life. Multiple factors impact the typical value of an auto accident claim in Indiana.

Contacting an Indianapolis car accident lawyer after the crash is the smart thing to do – you’ll gain a lot of clarity about the situation and the compensation you’ll be able to recover.

What Is the Average Auto Accident Claim Settlement?

Car accident settlement amounts vary greatly. The extent of damages and injuries will have a big impact on the value of the claim.

According to surveys, the average settlement in 2020 ranged from 20,000 to 25,000 dollars. The average injury settlement was 20,235 dollars and the average property damage compensation was 4,711 dollars.

Keep in mind that many settlements have terms and conditions that remain private. These aren’t factored towards the national average.

Also, the vast majority of people polled in the survey mentioned above received less than 10,000 dollars.

These numbers, however, have very little to do with your own case. Understanding the value of your claim will depend on working with the right attorney who’ll give you a good overview of the main factors that impact settlement amounts.

a lawyer can help you get a fair settlement after a car crash

Factors That Influence the Value of a Car Accident Claim in Indiana

A general rule of thumb is that the more severe the crash, the bigger the compensation. The main factors that will affect the amount of the claim include the following:

  • Fault: Who is at fault for the crash? According to Indiana Code Title 34, Indiana is a modified comparative fault state. You may recover damages in a car crash, as long as you’re less than 50 percent responsible for the accident. The more responsible for the crash the other driver is, the higher your compensation demand can get.
  • Injuries and their severity: As evident in the example above, larger settlements are achieved whenever someone is hurt in a car crash. The types and severity of injuries are also important. People who experience permanent disabilities as a result of a collision will be the ones to receive the most compensation.
  • Property damage: Has your car been dented or is it completely totaled? Did other kinds of property damage occur in the crash? These factors matter. The type and age of your car will also be taken into account.
  • Pain and suffering: This is a non-tangible kind of loss that can be more difficult to establish. Having to go through extensive medical procedures because of an injury or losing a limb, for example, will be linked to pain and suffering compensation.
  • Loss of the ability to earn an income: A chronic condition that develops because of a car crash may leave you incapable of earning an income. In that case, you will probably need to secure compensation that will help you make a living in the future.

Most of these factors can be verified through evidence collection – medical records, crash photos and videos, testimonies from witnesses. Start collecting such evidence as soon as you’re capable of doing so. Some of the information can be lost with the passage of time, making it more difficult to get compensated or make a claim against the other driver.

Get in Touch With an Indianapolis Car Crash Lawyer to Discuss Your Options

When you decide to take your auto accident claim to court, you will potentially be entitled to compensatory damages and punitive damages. If criminal prosecution occurs, you may also get an opportunity to get awarded restitution.

Our team of experienced Indianapolis car accident lawyers is ready to guide you through all of the claim complexities. Call us at 317-482-7888 for a free consultation.

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