How Much Is a Rear-end Collision Settlement Worth?
Obtaining compensation is the best way to mitigate the financial consequences of a car accident and serves as a just resolution for all those involved. Settlement amounts vary according to the context, the unique circumstances surrounding the accident, and the degree of damage.
In the event of a rear-end collision, the compensation an injured party receives can range from $10,000 to $70 million. Examining the damage to the vehicle, other economic damages such as loss of income, and the extent of physical injury caused by the rear-end accident could help provide a justifiably greater settlement amount.
At Powell Law Firm, we have a great deal of experience dealing with rear-end collisions and can help victims get the compensation they rightfully deserve. Contact us today for a free case review!
Determining a Rear-end Collision Claim’s Worth
When determining a settlement's value, a great deal of time is often spent explaining to the auto accident attorneys in St Louis the details surrounding the accident. It is vital to seek a professional diagnosis of all injuries as soon as possible and to follow the doctor's advice in terms of therapy or additional medical treatment that may be required.
Medical costs are included in the settlement amount, and pain and suffering are often also factored in. Another factor that is considered is the income that victims lost because of their injuries if they are unable to work.
The cost of the vehicle damage must also be calculated and added to the settlement amount. Attorneys often enlist the help of dealerships to inspect the damage with the assistance of the insurance company. This serves as proof of the cost of damage to the vehicle.
Settlement amounts may also be subject to insurance limits. If a victim has extensive injuries, such as a broken neck, they can claim the difference from the negligent party who caused the accident by filing a lawsuit.
Talk to an attorney at Powell Law Firm for more information on filing a personal injury lawsuit in St. Louis to recover damages not covered by insurance companies.
How to Obtain a Settlement After a Rear-end Collision
Filing a car accident claim is the first step toward obtaining a settlement of any kind. The majority of rear-end collision cases are settled out of court, but insurance companies often offer settlements that are a lot lower than what victims genuinely deserve.
Insurance companies are businesses at the end of the day that must keep their payouts to a minimum to ensure that they make high profits. This is why it is essential to enlist the services of an experienced car accident lawyer who can help victims navigate these processes, ensuring that they get the rightful compensation.
If the accident was complicated, or if the guilty party and their insurance company do not agree to a just settlement amount, an attorney can help victims file a lawsuit. If negotiations still fail, the lawyer can represent them in court.
Truck Rear-end Collisions
Truck rear-end collisions are nearly 10 times more costly than rear-end collisions. Settlement amounts for truck rear-end collisions range from $100,000 to millions of dollars. The median settlement amount is slightly more than $100,000, and 299 cases of settlements had exceeded $1 million between the years 2010 and 2018.
Additionally, the risk of being involved in a truck rear-end collision is significantly higher. Physical injuries, like a back injury, also tend to be a lot worse, which results in more significant damages, which is why settlement amounts tend to be higher.
Surgery and additional long-term therapy and medical care are two more reasons why settlement amounts are significantly higher in truck accident cases. Those involved in a truck rear-end collision are advised to speak to an experienced attorney to help determine the cost of their settlement.
They are also advised to collect as much evidence as possible. This includes photographs of the accident scene if this is possible, as this kind of evidence can help an attorney build a strong case and obtain a higher settlement amount for their client.
Need an Experienced Attorney? Contact Powell Law Firm Today!
Powell Law Firm has dealt with rear-end collision claims and lawsuits for years, obtaining fair settlements for many happy clients. We have the experience and are not afraid to take on even large corporations to ensure that victims get the compensation they rightly deserve after a collision.
Contact us today for a free case evaluation!