If you’ve been injured in a car accident, you’re likely wondering what type of compensatory award you are entitled to, if at all. You’ve probably seen the videos on social media that claim you can find out what amount you are entitled to in minutes. Unfortunately, those videos are nothing more than a lead generation tool used by agencies who know nothing about personal injury law. It is an unethical practice used to connect you with a personal injury attorney who pays them for their deceptive tactics.
The fact of the matter is this: it is nearly impossible to put an amount on any car accident claim at face-value. The reason being is we would first need to discover what insurance policies are at play, the total amount of your medical bills, lost wages, and loss of consortium, if any. What we can do is provide you with the 2021 State of Nevada average car accident settlement amount.
Average Nevada Auto Accident Settlement in 2021
In 2021, the average car accident settlement amount was around $15,500. Although that figure may seem low compared to the commercials you see on television that promise you millions of dollars, it is simply the median figure that we’ve seen. But how exactly is that number figured?
How the Settlement is Calculated
If you are involved in a car accident with the state minimum policy limit coverage, you can expect a settlement award of around $25,000 per any (1) person in any (1) accident, and $50,000 per any (2) persons in any (1) accident. So, let’s say, for example, you were awarded the full $25,000 per person per accident. Your medical bills were negotiated down by your personal injury attorney, and their fee is set at 33.33 percent. After all expenses are paid out on behalf of your case, you’re left with the remainder, which, in 2021, we calculated to be a little over $15,500.
Related: Cost to Hire a Personal Injury Attorney in Nevada
Other Car Accident Settlement Examples
As mentioned above, how much money you collect from your car accident settlement depends on a variety of factors. Your car accident settlement will reflect the total of your monetary losses plus an additional amount for your emotional pain and suffering. To collect money from a car accident settlement, you must qualify for a valid Nevada personal injury claim. Although we recommend speaking with an attorney to discover eligibility, you can start by asking yourself these questions:
- Did your accident occur within the past two years?
- Were you physically or emotionally injured as a result of the accident?
- Were you personally responsible for the crash, or were you hit by a negligent driver?
If you answered yes to the above three questions, you will likely have a valid personal injury claim in the State of Nevada. Contact our law firm for a free consultation.
Car Accident Settlements in an At-Fault State
The State of Nevada is an at-fault state. What that means is that an injury victim can file a claim even if their injuries and property damage are minimal. For this reason, there are many more lawsuits and settlement opportunities in Nevada than there are in other no-fault states. This is a major reason why there are so many personal injury attorneys in Las Vegas, Nevada.
Calculating Your Car Accident Settlement
As mentioned above, when determining the actual settlement of your case, you’ll need to evaluate a few important factors. These factors include:
The severity of your injuries
The more severe your injuries are, the higher your accident settlement may be. The idea behind filing a claim is to adequately compensate you for your damages and losses. Therefore, the more medical bills you acquire, or are anticipated to acquire, the higher your damages. The final settlement amount you’ll receive should mirror the severity of your injuries.
Your Monetary Losses
A settlement should encompass recoverable damages for both your physical and monetary losses. Medical bills, lost wages, and property damage all lie within the realm of monetary losses and are eligible for reimbursement in a personal injury claim.
The State Minimum Policy Limits
We briefly touched on this earlier, but your state’s minimum auto insurance policy limits will play a huge part in the final settlement amount. Granted, there are some cases where drivers carry much more than the state minimums, which is likely due to the fact that they have assets that they want to protect in the event they are responsible for a collision that exceeds the minimum policy limits.
For example, if you are hit by Driver A who carries the state minimum, you would be entitled to recover a maximum of $25,000. However, if you are hit by Driver B who carries a corporate policy at, let’s say, $500,000, depending on your damages, you would be able to recover the full amount of their corporate policy.
If you are hit by an uninsured driver, you would not be able to collect anything unless you have UM/UIM coverage on your own policy (highly recommended!)
Determining Fault in a Car Accident Settlement
When you’re in negotiations for a car accident settlement, the strength of your case is what will make or break that policy limits payout. The State of Nevada employs the modified comparative fault rule, meaning each party in an accident is assigned a percentage of fault. The less at-fault you are found to be, the more you will be able to collect. For example, if Driver A is found to be 75 percent at fault, and you are assigned 25 percent of fault, your final settlement amount would be reduced by 25 percent. The best way to receive a full settlement amount is by hiring an attorney who can paint a clear picture for the insurance companies on your behalf.
What Is a Fair Settlement for a Car Accident?
A fair settlement is an award that adequately covers both the present and future physical, mental, and monetary damages that a person endures. In some cases, such as a drunk driving car accident, the claimant may be entitled to punitive damages.
Contact Our Nevada Car Accident Settlement Attorneys
Do you have questions about the value of your case? Are you looking for ways to maximize your car accident settlement? Contact our attorney for a free and confidential case review 24/7. Attorney, Brian Boyer is available to take your call and answer any questions you may have. Call (702) 514-1414.