Estimate potential settlement amounts for vehicle accident claims and damages. This calculator helps you understand the factors that influence settlement negotiations with insurance companies.
Car Accident Settlement Factors
Settlement amounts depend on multiple factors:
- Economic Damages: Medical bills, lost wages, property damage (easy to quantify)
- Non-Economic Damages: Pain, suffering, emotional distress (harder to quantify)
- Fault Determination: Percentage of responsibility affects settlement amount
- Insurance Limits: Coverage amount limits maximum potential settlement
Types of Damages
Special Damages: Out-of-pocket expenses like medical bills and lost wages.
General Damages: Pain, suffering, loss of enjoyment of life.
Punitive Damages: Rare, only when defendant's conduct was particularly egregious.
Settlement vs. Trial
Consider these factors when deciding whether to settle:
- Settlements provide certainty and faster resolution
- Trials can result in higher awards but also risk of losing
- Legal costs and time investment for trial
- Strength of evidence and liability issues
- Insurance company willingness to negotiate fairly
- Statute of limitations deadline