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How Much Is My Car Accident Case Worth? The Truth About Settlements

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Alicia Dawson

October 20, 2024 6 min read
How Much Is My Car Accident Case Worth? The Truth About Settlements

Overview Summary

  • 1There is no 'average' settlement; every case depends on injury severity and liability.
  • 2Compensation includes economic damages (bills, lost wages) and non-economic damages (pain and suffering).
  • 3Insurance multipliers (1.5x - 5x) are often used to estimate pain and suffering.
  • 4Future medical needs must be calculated before settling.
  • 5Accepting a quick check usually means signing away your right to future compensation.

The most common question we get is 'What is my case worth?' The honest answer is: anyone who gives you a number without seeing your medical records is lying. However, we can explain how value is calculated.

The 3 Pillars of Value

Case value is generally determined by three factors:

  1. Liability: Is it 100% the other driver's fault? If you are partially at fault, your value drops.
  2. Damages: How severe are the injuries? A broken bone is worth more than a bruise. A permanent disability is worth millions.
  3. Coverage: Does the other driver have enough insurance to pay? You can't get blood from a stone (unless you have UM coverage).

Economic vs. Non-Economic Damages

Economic Damages are math: Medical bills, lost wages, property damage.

Non-Economic Damages are subjective: Pain, suffering, loss of enjoyment of life. This is where a good lawyer makes a massive difference, arguing for the maximum 'multiplier' of your economic losses.

Saad Admani

About the Author

Saad Admani is the lead Personal Injury Attorney at Admani Law with extensive experience representing accident victims in NJ. He specializes in fighting insurance claims, negotiating settlements, and advocating passionately for his clients.

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