What is the average settlement for a minor car accident?
For relatively minor injuries with no ongoing complications, such as ‘soft tissue’ or ‘whiplash’, the average settlement will tend to be between $10,000 and $25,000.
For more substantial orthopedic injuries that necessitate surgery, physical therapy, or ongoing care, settlements can run anywhere from $50,000 to $75,000..
What is a good settlement offer?
In general, if you can get close to judgment value of the case in settlement, then it should be considered a very good settlement. … One of the first considerations that attorneys and clients should factor in is the chance of prevailing on the issue of liability.
How much do insurance companies give for pain and suffering?
That said, from my personal experience, the typical payout for pain and suffering in most claims is under $15,000. This is because most claims involve small injuries. The severity of the injury is a huge factor that affects the value of pain and suffering damages.
How do auto insurance companies determine settlement amounts?
The basic formula insurance companies use to calculate auto accident settlements is: special damages x (multiple reflecting general damages) + lost wages = settlement amount.