How Much of Your Car Accident Settlement Do You Actually Receive?

People think that, when you file a car accident lawsuit, you walk away with millions of dollars. Nothing could be further from the truth. You can’t believe everything you see on television and in the movies. And you certainly can’t believe what you hear in some of those cheesy personal injury lawsuit commercials.

Plaintiffs who receive millions of dollars are few and far between. Even if a settlement is for more than a million dollars, by the time all of your legal bills are paid, you may not be left with much.

You have to remember – you can only receive damages for injuries you’ve actually suffered. It’s your Indianapolis car accident lawyer’s job to make you whole. It’s not their job to make you rich. He can’t get you money that you’re not entitled to.

When your Indiana car accident lawyer negotiates your settlement, he has to keep several things in mind. Some of these factors include:

  • How much of your medical bills did your insurance cover?
  • What are your estimated future medical bills?
  • Did you suffer property damage to your vehicle?
  • How much do you owe in legal fees, expert witness expenses, etc.?
  • How much will your attorney’s fees be?

Once these things are accounted for, the remaining money will be for your pain and suffering. Your Indiana car accident lawyer will do his best to get you as much money as possible.

How are Medical Bills Paid?

When you first get into your accident, you need to go to the hospital. A trip to the emergency room can cost a few thousand dollars at a minimum. If you need to stay there for a few days, you’ll be looking at a bill for at least $30,000.

Can you imagine how much more expensive it’ll be if you need surgery and physical therapy? You could be looking at hundreds of thousands of dollars in medical bills. If the other driver’s insurance company denies your claim, you’ll have to find some other way to pay these bills.

If you have private health insurance, they’ll cover your treatment. So will Medicare or Medicaid. It really depends on what type of health insurance you have. But these providers aren’t paying out of the goodness of their hearts. They will expect to be paid in full once you settle your lawsuit.

You won’t actually have a choice in whether you repay them or not. Third-party providers will file a lien against your lawsuit. This way, they’re guaranteed payment if you win or settle your case. Once your settlement is paid, these providers will be paid first.

What Other Expenses Need to Be Paid?

Medical bills aren’t the only thing that need to be paid. If your car was destroyed in the accident, your insurance company paid a claim. They would’ve paid you the fair market value for your car. They will want reimbursement once you settle your case.

If your car was older, it may not have been worth all that much. However, if you had a car that was still being financed, you may have to pay the insurance and gap insurance companies back a lot of money. This will have to be paid out of your settlement proceeds.

One thing about car accident attorneys is that they take your case for free. They only get paid if you win or settle your case. This means the pay all of your filing fees and costs out of pocket. They need to be reimbursed once your case settles.

You’ll have to pay for things such as:

  • Filing fees
  • Discovery
  • Copies, postages, supplies
  • Transportation costs
  • Expert witnesses
  • Travel costs for experts and other witnesses

This could add up to thousands of dollars. You will need to reimburse your Indiana car accident lawyer for these expenses.

Finally, your car accident lawyer in Indianapolis doesn’t work for free. When you settle your case, you have to pay your attorney’s fees. This is usually between 30-40% of your total settlement. They work hard to win your case. They deserve compensation as well.

Contact an Indiana Car Accident Lawyer Today

If you’re injured in a car accident, you need to contact an Indiana car accident lawyer right away. You’ll need to focus on recovering from your injuries. Let an experienced attorney handle the legal side of things for you.

Call today and schedule your initial consultation. It’s absolutely free and you won’t pay a dime until you win your case.

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