A car accident settlement amount refers to the money that a victim receives from a defendant as a result of a personal injury case. While there are no records about the average amount of car accident settlements, victims should anticipate a settlement that is equal to three times their medical bills as a general rule.Continue Reading
A settlement should cover the victim's medical bills and any time lost from work as well as pain and suffering. Most settlements are not determined by a jury. Instead, the victim or plaintiff and the defendant reach an agreement or a settlement before the case goes to trial. If the case goes to trial and the victim is awarded money as a result, it is called a jury verdict rather than a settlement.
Some of the biggest car accident settlements on record are worth well over a million dollars. For instance, on March 12, 2007, a victim was awarded a $3 million settlement by a bus company. After the bus driver's negligence caused the bus to crash into the car, the victim suffered a brain injury and a back injury. Another victim was given a settlement of $2.9 million after a crash with a tractor trailer caused brain damage and orthopedic injuries.Learn more about Vehicle Insurance