How Much to Expect from a Car Accident Settlement in Florida?

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How Much to Expect from a Car Accident Settlement in Florida?

by | Jun 16, 2022 | Accidents, Auto Accidents

This article will find out everything you need to know about how much to expect from a car accident settlement in Florida.  

Being in a serious car accident is no walk in the park. Whether recovering from temporary injuries or dealing with the emotional toll of the event, you may need to file a claim or lawsuit to get the compensation you deserve — they are the most effective means to recover your losses and damages.

How Much to Expect from a Car Accident Settlement in Florida?

When you are in a car accident, the last thing you want to think about is finances. But, if you are involved in a crash resulting in personal injury or loss of a vehicle, you may have to worry about financial compensation. In fact, car accident settlements in Florida can be quite substantial.

The National Highway Traffic Safety Administration reports that the average total car insurance claim nationwide is $17,000. This means that Florida’s average car accident settlement is about $17,000. This figure depends on many factors, including the severity of your injuries and the party’s insurance at fault. However, this amount will vary depending on your case’s specifics and injuries. 

For example, a person seriously injured in a car accident might receive a higher settlement than someone who does not suffer any physical injuries. Furthermore, if the other driver was at fault for your damages, their insurance company may be willing to pay more than if it was partly your mistake.

Suppose you are involved in a car accident in Florida, believe that you may have a claim against the other party or party’s insurer, or are simply curious about how much to expect from a car accident settlement. In that case, it is essential to speak with an experienced personal injury attorney as soon as possible. An attorney can help you understand your rights and provide guidance as you attempt to negotiate a fair settlement.

Determining Car Accident Settlement Amounts

Car accident settlements rely on collecting specific information about the incident. The car accident itself can be different depending on each driver. For example, one person would class it as a minor fender bender, whereas someone else could call it a severe crash that damaged property and caused the personal injury.

Under Florida law, those who get in a car accident are required to contact law enforcement immediately if the accident was severe enough to result in:

  • personal injury
  • death
  • property damage exceeding $500

Other information to keep nearby if you plan on filing a personal injury claim includes:

  • medical bills
  • costs for car repair
  • estimated costs for continued care (e.g., in the case of a major accident that has resulted in permanent/chronic injury)
  • other financial losses (e.g., lost wages)

This information can prove crucial to determining how to get the most money from a car accident personal injury claim you will be able to receive in a personal injury settlement.

Factors That Could Affect the Amount of Your Settlement

Like any other legal matter, the amount of money you receive following a car accident in Florida will primarily be based on several factors, including the facts of your case and the specific insurance policies involved. However, here are four general factors that could affect your settlement:

  1. The severity of the injuries you sustained in the accident.
  1. The extent to which you were at fault for the accident.
  1. The location of the accident.
  1. The insurance coverage of the person or company at fault for the accident.

Florida No-Fault Insurance Policy

One of the most important things to understand is that Florida has a no-fault insurance law, which means that you cannot calculate fault in an accident. Instead, it is best to call your auto insurance provider immediately after the incident and follow up with phone calls to medical providers and the police.

Personal Injury Protection Policy (PIP)

Florida drivers need at least $10,000 in PIP coverage through liability insurance. This can come into play in the event of an accident and help with a financial payout or reimbursement. Through your insurer’s personal injury protection policy, you should be eligible to receive the following coverage:

  • up to 80 percent of medical expenses
  • travel reimbursement for visits to doctors
  • up to 60 percent of lost wages
  • $5,000 in death benefits

This can help seek initial financial coverage following an accident. However, there are also several limitations to PIP coverage.

  • Benefit Limits
  • Time Frame For Medical Coverage
  • Not All Damages Covered

Contact the Team From Pacin Levine to Speak With an Experienced Attorney

If you’ve been in a serious car accident, contact an experienced personal injury lawyer. We at Pacin Levine can assist you in navigating the complicated legal system and obtaining the best possible compensation for your injuries. Call us at 1-800-24-7-CRASH or write to us at [email protected].

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