Home Law What is the Average Settlement for a Car Accident in Florida?

What is the Average Settlement for a Car Accident in Florida?

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There are an average of 650 car accidents in Florida each day. That means 650 people or more are impacted by these accidents, leading to injury, death, and financial loss. Depending on the circumstances of the accident, you might be entitled to financial compensation. With the help of an experienced car accident attorney, you will be able to do so. But how much will you be compensated for your car accident injury? Keep reading to find out the averages in the state of Florida!

The Circumstances/Factors

One of the biggest factors when deciding how much you’ll get is the circumstances surrounding your accident. If your accident was minor, you won’t receive as much compensation as someone who was severely injured or lost a loved one in their accident. You also won’t receive as much compensation for minor damages to your car as someone who suffered $500 or more worth of damage.

But whether your accident is minor or major, contacting a car accident attorney is important. You might be honest about the situation and know it wasn’t that major, but you can never trust that the other party involved in the accident won’t try to make it worse than it was and try to come after you for compensation!

So here are some of the factors to consider after you’ve been in a car accident:

Florida Law: Florida has a no-fault accident law. This law prevents drivers from holding the at-fault driver liable for costs accumulated because of minor damage. You are still able to file a liability claim, but you have to meet certain criteria in order to do so.

Personal Injury Protection Policy: Florida drivers are required to have a minimum of personal injury protection coverage through their auto insurance. This coverage can play an important role in seeking initial coverage or reimburse following an auto accident. Though there are limitations to personal injury protection, it is helpful to drivers.

Determining Costs

The truth is, there is no average settlement cost because every accident is unique and has different circumstances and factors surrounding it. Though there is no average, there are ways for your car accident lawyer to determine how much compensation you deserve.

Here are some factors that will determine the cost:

  • Estimated cost for car repair
  • Estimated costs for continued care (Applicable to major accidents that resulted in chronic or permanent injury or death; e.g. in the case of a major accident that has resulted in permanent/chronic injury or death)
  • Medical expenses
  • Other financial losses (Lost wages, etc)

Though there is no average settlement, there is a cap on how much you can receive. In the case of personal injuries, you can’t receive more than three times the amount of compensatory damages or a maximum of $500,000.

A Call to Action

Car accidents can change someone’s life in the blink of an eye. So if you’ve been a victim of a serious car accident injury, then you need to contact a car accident lawyer as soon as possible. With each second that passes by, that’s another second you are filled with worry, anxiety, and other emotions that can negatively impact your health. So don’t waste another second without getting the compensation you deserve!

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