Fair Car Accident Settlement Examples
The settlement phase is the final stage in the drama of a car accident. It is an agreement between the two parties for monetary compensation for the damages and injuries sustained by one driver as a result of negligence on the part of the other.
Damages include the cost of repairs to your car, and medical expenses that you and the occupants of your car had sustained. In addition, other factors like pain, suffering and mental anguish of also considered.
Here are three fair car accident settlement examples:
Vehicle repair $ 700.00
Medical bills $ 500.00
A settlement the range of $750.00 to $2500.00 can be expected as the accident was comparatively minor.
Vehicle repair $ 2200.00
Medical bills $ 2500.00
Total $ 4700.00
The accident is more severe hence the settlement could be in a range from $3000.00 to $12500.00.
Vehicle repair $ 5500.00
Medical bills $ 9000.00
This constitutes a serious accident which could have resulted in loss of life. In anticipation of an extended hospitalization and convalescence, the settlement could range from $ 8,000.00 to $43,500.00.
Insurance adjusters try as far as possible to effect an out of court settlement. This could be advantageous to both sides as a legal battle is always expensive, protracted and does often prove traumatic. The norm in such cases followed by most insurance companies is 1.4 to 1.8 times the medical bill in the case of minor accidents, 1.9 to 2.4 times in the case of more serious accidents and 2.3 to 3.00 in the case of life-threatening mishaps.
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