How Much to Expect from a Car Accident Settlement 

October 3, 2024 | Car Accidents

How Much to Expect from a Car Accident Settlement 

If you’re injured in an Arizona car accident, you could be entitled to compensation for your losses. In Arizona, the at-fault party is responsible for all damages incurred because of the accident.

This means that if you can prove another party was responsible, you can recover compensation for all of your losses. That said, several factors impact how much compensation you get. 

Here’s a look at factors to consider when you’re trying to figure out how much to expect from a car accident settlement. Contact a Phoenix accident lawyer to discuss your case. 

Whether or Not Fault Was Shared

Arizona follows an approach of pure comparative fault. This means that you can recover damages even when you’re partly at fault for an accident. However, your damages will be reduced by the percentage of your fault. 

For example, if you’re 20% at fault and are awarded damages of $100,000, you’re only entitled to recover $80,000. 

When the fault is shared, it impacts the amount of your car accident settlement. The insurance company will reduce its settlement offer to reflect your shared responsibility. As a result, this is a key factor to consider when trying to anticipate the amount of a car accident settlement. 

The Type and Severity of Injuries

Car accidents can result in a wide range of injuries – from minor cuts and scratches to life-threatening injuries. Generally, the more severe the injuries, the larger the settlement will be. 

Your car accident settlement compensates you for losses incurred because of your accident. More severe injuries mean increased medical bills and expenses. In addition, more serious injuries require more rehabilitation, treatment, and care. As a result, you can expect a larger settlement if you have more severe injuries. 

Plus, your settlement will take into account future medical expenses and losses. If your injuries are long-term and result in a permanent disability, you can expect a larger settlement. If you have long-term disabilities that require care or impact your ability to work, your settlement will be higher to reflect this ongoing expense. 

The Amount of Economic Damages 

In personal injury cases, damages are calculated to compensate victims for all of their losses after an accident. There are two broad categories of damages to consider: economic damages and non-economic damages. 

Economic damages compensate injured parties for tangible losses after an accident. These are losses that can be documented and relatively easily calculated. 

Examples of economic damages include: 

In contrast, non-economic damages compensate victims for more abstract losses after an accident. Examples of non-economic damages are pain and suffering, decreased quality of life, and loss of consortium. 

In many cases, non-economic damages are calculated based on the value of economic damages. As a result, economic damages are a good metric to use to help determine the value of your car accident settlement. Settlement values are higher in cases with substantial economic damages. 

The Insurance Company Involved 

All insurance companies want to minimize claims paid to accident victims. However, some companies are more difficult to work with than others. Some insurance companies are known for engaging in bad faith practices. When you’re dealing with these companies, it’s helpful to expect a longer legal battle to ensure you get a fair settlement. 

The best way to deal with difficult insurance companies is to work with a skilled personal injury lawyer. Accident lawyers are used to dealing with insurance companies and will ensure you get a fair settlement. 

The Amount of Insurance Coverage for Your Claim 

Arizona has minimum liability insurance requirements. Under Arizona law, all drivers must have at least $25,000 of liability insurance per person, $50,000 of liability insurance per accident, and $15,000 of liability insurance for property damage. 

While those are the minimums, some drivers have additional coverage. The amount of coverage available on the insurance policy can impact your settlement amount. 

If the amount of your damages exceeds the value of the policy, you’ll have to sue the driver to recover additional damages. This process can be slow and difficult. 

Whether or Not You Hire a Personal Injury Attorney 

On average, accident victims who work with a personal injury attorney receive higher settlements than those who do not. 

A personal injury attorney will: 

  • Investigate your case to determine who is responsible 
  • Gather evidence to prove who is responsible
  • Calculate and document damages
  • Submit a thorough claim to the at-fault party’s insurance company
  • Negotiate with the insurance company to ensure a fair settlement 
  • File a lawsuit and represent injured parties in court 

A good personal injury lawyer will build a strong case to ensure accident victims get a fair settlement. Plus, good lawyers know the value of each case and can advise a client to reject an unreasonable settlement offer. If the insurance company is unwilling to pay a fair settlement, the lawyer will file a lawsuit. 

Insurance companies know the reputations of local personal injury lawyers. When an experienced personal injury attorney is involved, the insurance company is more likely to make a fair settlement. They know the attorneys who are comfortable taking a case to trial and do not want to take on the risk of presenting a case to the jury. 

Personal injury attorneys can significantly increase the amount received in a car accident settlement, so this is an important factor to consider when evaluating the value of a claim. 

Contact the Arizona Car Accident Lawyers at Curiel & Runion Car Accident and Personal Injury Lawyers Today

If you were injured in an accident in Phoenix, AZ, and need legal help, contact our Phoenix car accident attorneys at Curiel & Runion Car Accident and Personal Injury Lawyers to schedule a free case review today.

Curiel & Runion Car Accident and Personal Injury Lawyers
1221 E Osborn Rd. Suite 201
Phoenix, AZ 85014
(602) 595-5559