While car accidents are common in South Carolina, there is no standard amount for how much a car accident settlement is worth. This is because each car accident case is unique, and the injuries involved will impact the amount of compensation that is recovered.
Although there is no exact formula for calculating a car accident settlement, an experienced South Carolina car accident lawyer could help ensure you maximize your claim amount. Your settlement amount will largely depend on the economic and non-economic damages that you suffered. Once your attorney has properly evaluated the financial and emotional impact of your injuries, they can begin negotiating a settlement amount that is fair for your case.
If you were injured in a car accident and want to determine a settlement amount for your case, our South Carolina car accident lawyers can help by providing you with a free case review today. Contact Burriss Ridgeway Injury Lawyers at (803) 451-4000.
What is the Average Car Accident Settlement Amount in South Carolina?
Unfortunately, there is no reliable way to determine the average settlement amount for a car accident in South Carolina. This is because each car accident case is different, and the types of injuries caused in the accident will significantly impact the amount of money offered in settlement negotiations. Some car accident cases will be worth only a few thousand dollars, while others could recover hundreds of thousands in damages.
Car accident settlement amounts are generally based on the economic and non-economic damages a victim suffered as a result of their injuries. However, there is no guarantee that you will recover all your damages in an insurance settlement. In some cases, you might need to file a lawsuit to show the insurance company that you are serious about recovering the full compensation you are owed. Having our Columbia car accident lawyers in your corner can make all the difference in negotiating a satisfying settlement amount for your injuries.
How are Car Accident Settlement Amounts Calculated in South Carolina?
There is no exact formula for calculating a settlement amount for a South Carolina car accident. However, your South Carolina car accident lawyer will have a thorough process for determining the value of your case so a fair settlement amount can be determined. This means reviewing your economic and non-economic damages to estimate a settlement amount that will adequately cover the full extent of your injuries.
Economic damages refer to the financial impact your car accident injuries have had on your life. These damages are relatively easy to calculate since they are accident-related financial losses and expenses usually backed by reports, invoices, and estimates. Economic damages include a wide variety of financial harms that a victim can be compensated for in South Carolina:
- Medical expenses
- Lost wages
- Loss of earning protentional
- Property damage
- Vehicle replacement or repairs
It is vital to retain copies of records and bills of financial loss related to your car accident to ensure you maximize the settlement amount you receive. Without these records, it can be very difficult to calculate the true value of your case accurately.
Calculating a car accident case can become difficult when a victim’s non-economic damages are accounted for. Non-economic damages are not nearly as simple to calculate as economic damages, as these types of injuries are not necessarily visible and often do not have a fixed cost for treating the injury.
These types of damages account for the pain and suffering a car accident victim has endured and the impact their injuries have had on their life. The following are common types of non-economic damages that can be awarded to a South Carolina car accident victim:
- Pain and suffering
- Emotional damages
- Loss of consortium for spouse
- Permanent disability
The subjective nature of these damages makes it difficult to place an exact dollar amount on them. It could mean missing out on some of the vital compensation you need if not evaluated properly. Our experienced Sumter car accident lawyers can help you accurately assess your damages to recover the full settlement amount you deserve for your injuries.
What Is the Settlement Process for a South Carolina Car Accident?
There are several steps to recovering a settlement amount that covers the full range of your injuries.
Contact Our South Carolina Car Accident Lawyers
The first step you can take to ensure you receive a high settlement amount is to contact our South Carolina car accident lawyers. Even if you do not plan on filing a lawsuit, an attorney can provide a significant advantage in settlement negotiations since they can accurately assess your case to prevent an insurance company from pressuring you into taking an unfair offer.
Preparing Your Demand Letter
The first step to recovering compensation is to speak with a car accident lawyer as soon as possible to build your case. Your Lexington car accident lawyer will thoroughly review your case and begin collecting evidence to prove your damages, as well as interview you and witnesses that could provide useful information to include in your settlement demand. Once your case has been carefully evaluated and a settlement amount accounting for your economic and non-economic damages has been determined, a demand letter stating the total settlement amount will be sent to the insurance company along with supporting documentation.
An insurance company will rarely concede to the first settlement demand. In many cases, an insurance company will address flaws they find with the demand and should specify the reasons for denying your demand or making a counteroffer. From there, the process can be tedious, often involving back-and-forth negotiations between the insurance company and your lawyer to determine a satisfying amount. However, if a settlement agreement cannot be reached, consider filing a lawsuit to recover the compensation you cannot get from insurance.
Filing a Lawsuit
A case can still be settled after a lawsuit is filed. In fact, a lawsuit can effectively pressure insurance companies to offer a fair settlement amount, as most insurance companies would prefer to stay out of court. However, our South Carolina personal injury lawyers can help you take your case to the next level if the insurance company refuses to offer you the compensation you deserve.
Our South Carolina Car Accident Lawyers Can Help
Our Columbia personal injury lawyers are dedicated to helping car accident victims get the settlement amounts they deserve. For a free case review, call Burriss Ridgeway Injury Lawyers at (803) 451-4000.