What is the average settlement for a car accident in Texas? Settlement amounts can sometimes vary from a few hundred dollars to tens of thousands of dollars. Frequently, the size of the settlement depends on the losses sustained in the accident.
You can review possible settlement amounts for your car accident claim with the help of a personal injury lawyer. In addition, car accident lawyers usually offer to review your situation in a free case review.
How Much Are Most Car Accident Settlements?
According to Forbes, the average amount for bodily injury claims after a car accident reached $20,235 in 2020. During this period, property damage claims averaged around $4,711. However, drivers reported a lot of variances based on the severity of their accidents.
Because of the fluctuation in the value of car accident settlements, reviewing the average may not give you information about what to expect for your claim. Instead, you can contact a Texas car accident lawyer for help discussing your unique situation.
For a free legal consultation, call 844-349-9196
What do Texas Car Accident Settlements Cover?
A car accident settlement in Texas can help you cover many of the losses associated with your accident. Many individuals hurt in car accidents receive funds to cover their:
- Healthcare expenses
- Lost wages at work
- Emotional distress, pain, and suffering
- Property damage
When asking about the average settlement for a car accident in Texas, it’s essential to consider the above costs. A driver who experiences serious injuries may receive a much larger settlement than a driver who walks away from a collision mostly unharmed.
How Is Car Accident Value Calculated in Texas?
Lawyers and insurance agents may work together to calculate the value of your car accident claim in Texas. In many cases, determining the value of your claim involves gathering up documents from your:
- Medical care providers
- Repair shop
These documents give car accident specialists a place to start when building your car settlement. However, some losses, like your pain and suffering, do not have a set dollar value. So, how do insurance agents and lawyers determine the value of these losses?
Insurance companies and lawyers often use specific formulas to determine the value of your pain, suffering, and mental anguish. In some cases, they may assign you a specific amount of compensation for each day it takes you to require from your injuries.
In other situations, the insurance company may multiply your total economic losses (or the costs for your medical expenses and vehicle repairs) by another number to determine a value for your pain and suffering.
Can You Get Other Damages for a Car Accident Settlement?
When considering the average settlement for a car accident in Texas, it’s essential to consider other factors. You may receive funds for further losses as they apply to your accident. Lawyers look for these losses to ensure they are appropriately covered.
Additionally, you may not always choose to settle a car accident claim in Texas. In some situations, you may decide to file a lawsuit instead. Lawsuits allow you to secure the same kinds of damages as well as punitive damages.
Punitive damages serve as a way to punish the individual who caused your accident and injuries. In some cases, punitive damages can significantly increase the compensation you receive after an accident.
How Long do Most Texas Car Accident Settlements Take?
It can take several years to resolve a car accident claim in Texas. However, the state only provides a two-year statute of limitations for most car accident cases. This regulation limits the time you have to move forward with your case.
If you have a relatively straightforward claim without any disputes regarding liability, a lawyer could resolve your claim in a few weeks. However, more complicated cases can take more time and could end up going to court.
Who Pays a Settlement for a Texas Car Accident?
When asked about the average settlement for a car accident in Texas, many drivers also wonder who pays the compensation offered in the settlement. Generally, insurance companies pay to cover your losses following a Texas car accident.
However, the insurance company may only provide damages if a lawyer shows that someone else caused your accident. Lawyers may investigate your accident by:
- Speaking to witnesses
- Looking for surveillance footage
- Going over your police report
- Working with car accident experts
Your lawyer may use this information when negotiating a settlement with insurance agents.
What If the Other Driver doesn’t Have Insurance?
If insurance companies usually cover car accident settlements in Texas, what happens if the other driver doesn’t have insurance? In this situation, your insurance company may cover your expenses.
However, your insurance company may only step in if you have an underinsured/uninsured driver policy. You must have this policy set up before your accident to file a claim after a collision. Additionally, these policies may not provide very much compensation.
Depending upon your situation, you may also decide to file a lawsuit against the driver who hit you. Moving forward with a lawsuit can allow you to seek additional compensation for your losses. Find out more about this option by reaching out to a lawyer in Texas.