When injured in a motor vehicle collision, it can be difficult to think about anything other than your recovery. However, filing a claim as soon as possible after the crash can help ensure that you receive the financial compensation you deserve.
The growing costs of medical bills and lost wages often total in the thousands of dollars. If another driver was at-fault, you should not be responsible for covering those costs.
At Flores, Tawney & Acosta, we often hear the following question while working with traffic crash claims: What is the average settlement for a car accident in El Paso?
While the average car accident settlement varies widely on a case-to-case basis, there are many factors that can determine the total payout of most car accident settlements.
Car Insurance Rules and How You File Your Claim
Texas is known as a fault-based state when it comes to insurance law and requirements. In El Paso, Texas, motorists involved in crashes caused by another driver’s negligence have the option of filing a first-party claim through their own insurance. They can also file a third-party claim through the negligent driver’s insurance company. There are pros and cons to each approach, and how you file could affect your settlement.
With a first-party claim, you can typically receive compensation more quickly from your own insurance. With a third-party claim, your recovery may be limited by the other party’s insurance policy or limitations. Your car accident lawyer can help you to decide which option is right for you.
Severity and Type of Injuries
Your injury type and severity also play a major role in determining your settlement amount. Total settlements take into account, for example:
- Number of lost days of work;
- Whether a car accident victim can return to work in a partial or full capacity at any point;
- Cost of required surgery (or surgeries);
- Number and cost of medical appointments and healthcare more generally;
- Whether a car accident victim requires physical therapy;
- Cost of medications and pain relievers;
- Whether accident resulted in disfiguration or significant pain and suffering;
- Whether accident resulted in psychological injuries, including post-traumatic stress disorder (PTSD); and
- Egregiousness of the at-fault driver’s behavior in causing the crash.
According to the Rocky Mountain Insurance Information Association (RMIIA) in the year 2013, the average Texas car accident settlement was just over $15,000. However, since that is an average, some claimants receive less than the amount while many receive more.
Let us give you two different hypothetical scenarios. Imagine a car accident in which Driver A was struck by Driver B after Driver B ran a red light. First, let’s say that Driver A’s car sustained some damage but remained operable, and Driver B did not sustain any injuries. In all, Driver A’s economic losses totaled $2500.
Now alternately, let’s say that Driver A’s car was totaled and Driver A sustained serious injuries that prevented her from working, requiring extensive medical care. In this scenario, Driver A’s economic losses totaled $75,000. The difference in settlement amounts could be drastic given the difference in economic losses and the potential for pain and suffering.