The average number stated among Florida law resources for car accident settlements is anywhere from $10,000 to $60,000. As you can imagine, settlement amounts can vary depending on a wide range of factors.
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What is a fair settlement for a car accident?
Nobody plans or wants to be involved in a car accident that results in injuries. When the unfortunate does happen, it can be a frightening and frustrating experience. Personal Injuries that occur due to a car accident must meet specific criteria to file a car accident claim.
After an auto accident, the number one question asked of a car accident lawyer is how much compensation they could receive in a settlement. Honestly, there is no average settlement amount in car accident settlements.
The settlement amount rewarded in Florida for car accidents depends on many factors, such as the severity of injuries, insurance coverage, and details regarding the accident.
An experienced and knowledgeable car accident lawyer will gather all of the information and evidence surrounding an auto accident to get a better understanding of the compensation recovery.
If you or someone you know has been injured in a car accident and having trouble getting compensated, having issues with the insurance companies, or unsure what to do next, speak with our injury attorneys today to get started with filing a car accident claim. One important note, do not take the insurance companies immediate settlement amount.
How Are Car Accident Settlement Determined?
Based on the details of a car accident will determine how much compensation you will be able to receive in a car accident settlement. The term
Take, for instance, a minor auto accident without injured victims. Either party may see less in compensation versus an accident that results in significant property damage or casualties.
Typically, the actions taken after a car accident will depend on the accident’s seriousness and damage. In Florida, law enforcement must be notified immediately after a car accident that results in the following:
- Property Damage Exceeding $500
For several reasons, many car accident victims do not call law enforcement if they deem the accident was minor based on the resulting outcome.
Though it is always important to call law enforcement after any car accident, it is also just as important to document as much as possible regarding all accident-related damages, such as personal and insurance information.
Other information relevant to a car accident claim:
- Medical Bill
- Repair Cost estimates
- Future Medical Expenses
- Lost Future Earnings
The information you provide will be a significant factor in your car accident settlement amount.
What Affects Florida Car Accident Settlement Amounts?
As stated above, many factors determine a car accident’s settlement amount, but the most significant factor is the seriousness of your injuries.
Having a car accident attorney on your side will be essential to help maximize your compensation eligibility and minimize the financial and personal burden.
No-Fault Insurance Policy
An important factor in understanding while pursuing an auto accident claim is Florida’s no-fault law. The no-fault insurance law requires both parties in an accident who become injured to first seek a claim through their auto insurance policy, regardless of who is at fault.
Florida’s no-fault law prevents accident victims from going after at-fault drivers from costs due to minor damages. Filing an auto liability claim against the at-fault party must be done separately from the no-fault system with eligibility requirements.
Those eligibility requirements must meet the following:
- Permanent injuries
- Serious or permanent scarring
- Serious or permanent disfigurement
- Serious injury resulting in loss of bodily function
To begin the process of receiving necessary coverage after an accident, it is essential first to seek the guidance of a competent and skillful attorney.
Personal Injury Protection Coverage (PIP)
Personal Injury Protection Coverage (PIP) in an auto insurance policy is required in Florida with a minimum coverage of $10,000. PIP is a necessary coverage that will immediately help cover initial costs related to a car accident without waiting for compensation from the at-fault party.
Your PIP policy allows you to receive the following a car accident:
- Up to 80% of medical bills
- Travel reimbursement for visits to doctors
- Up to 60% of lost wages
- $5,000 in death benefits
PIP is very beneficial following an accident; however, there are some limitations. Some limitations are:
Benefit limits: PIP benefits do not exceed $2,500 unless there is an emergency medical condition. PIP will more than likely not cover all costs in the event of a major medical procedure or long-term medical care.
Medical treatment time-frames:: You have 14 days following an accident to seek medical treatment to cover the accident’s medical costs. Medical treatment after the first initial 14 day period will not be eligible under your PIP coverage.
Not all damages are covered:: PIP covers any damages related to your auto accident; however, PIP does not cover losses related to pain and suffering. Similar costs outside of your PIP scope may be recoverable by filing a third-party claim with an experienced car accident attorney.
Legal Limits on Damages
In a car accident claim, there are damage caps or legal limits of how much compensation you can receive for damages resulting from an accident.
The most common damage caps in a car accident case are on punitive damages. Punitive damages are damages awarded in an attempt to deter or punish dangerous behaviors of the at-fault driver.
The cap on punitive damages in Florida is three times the amount of compensatory damages (e.g., medical expenses, lost wages), or a maximum of $500,000 – whichever is greater.
Speak With an Attorney Today About Your Florida Car Accident Claim
If you were involved in an auto accident, speaking to a lawyer as soon as possible is essential. If you have tried to seek adequate compensation from an accident and find it difficult to recover costs and damages, filing a third-party injury claim against the at-fault driver with a qualified attorney can help.
Finding experienced and knowledgeable legal representation can help determine a fair settlement amount based on the details of our accident injury case. At Shiner Law Group, we understand the difficulties with the claim process and understand how to navigate the challenges ahead. Our experienced lawyers will confidently negotiate with the insurance company and go to trial if needed to get you the highest settlement for your accident-related damages.
You should focus on your health and recovery after a car accident. Let Shiner Law Group work for you and pursue the settlement you deserve. Don’t wait, contact us at (561) 777-7700 for a free consultation with an attorney today.