Determining an appropriate settlement from a car accident can be difficult and involve many factors. There is no set amount that is acceptable for a car accident settlement, as it depends upon the damage done, the injuries suffered and the circumstances surrounding the accident.

Settlement Amount

The settlement amount is based on an agreement between the victims and the insurance companies involved in the accident. Many times an agreement can be reached relatively easily, and there is little debate. In cases where a settlement agreement cannot be reached, attorneys may also be involved.

Bodily Injury

Bodily injury is often a result of car accidents and may be temporary or permanent, severe or minor. Often the severity of the injury is directly correlated with the settlement amount, but other factors also come into play, such as how long a person will be affected with the injury over the course of their lifetime.

Pain and Suffering

Pain and suffering includes a variety of things following the accident, including pain from injuries, physical and mental suffering, time lost, wage losses and job impairments. This is often difficult to determine an amount for because these things are intangible and do not come with a price tag.

Property Damage

The property damage in a car accident settlement is relatively easy to assess, as it is a dollar amount of what it would cost to fix the damage or replace the vehicle.

Who Pays

The settlement payment comes from a variety of sources. The person at fault, if they have insurance, will repay the damages to the victim. If they don't have insurance or if their coverage is insufficient, your uninsured motorist policy will typically pay for the rest if you have it.

Source:

FreeAdvice.com: Insurance

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