What is the Average Car Accident Settlement Amount in Texas?

If you’ve been injured in a car accident in Texas and require compensatory damages, you may be wondering what the average settlement in such cases is. In reality, there isn’t one.

Because the circumstances of each Texas car accident are so different, there is no average settlement amount victims can refer to. While there’s also no exact formula to calculate a settlement, your attorney will estimate the economic and non-economic impact a collision has had on your life to determine an appropriate settlement amount. Victims can improve their chances of getting the settlement they deserve by seeking medical attention and hiring an experienced lawyer after an accident. Once you’ve been awarded a settlement in Texas, you can receive it through a lump sum or structured settlement.

Our attorneys are here to help injured car accident victims throughout Texas get the settlements they deserve after a damaging collision. For a free case evaluation with the Arlington car accident lawyers at The Queenan Law Firm, P.C., call today at (817) 476-1797.

Determining an Average Settlement Amount for Car Accident Cases in Texas

In Texas, the average settlement amount for car accident cases can vary significantly depending on various factors such as the severity of injuries, property damage, liability, and insurance coverage. Settlements can range anywhere from several thousand dollars to several hundred thousand dollars.

While the Insurance Information Institute has not reported on settlement amounts, they have published data regarding the average value of claims made by car accident victims nationwide. In 2022, the average auto liability claim for property damage was $5, 313. Meanwhile, the average claim for bodily injury was $24, 211.

Serious accidents involving catastrophic injuries or fatalities typically result in more significant settlements. For example, after one fatal crash, our legal team represented the victim’s family and secured a $738,000 settlement from various insurance companies and drivers. Further, in another case, the driver of a semi-truck turned right without signaling and struck another motorist, causing bodily injury. We represented the victim and were able to obtain a settlement of $295,000.

Unlike some states, Texas does not impose specific statutory caps on the amount of compensation that can be awarded in car accident cases. However, there are certain limitations and considerations that may affect the final settlement amount. Texas follows a modified comparative negligence rule, meaning that the compensation awarded to a plaintiff can be reduced if they are found to be partially at fault for the accident. Additionally, Texas has a statute of limitations, which restricts the time frame within which a lawsuit can be filed after a car accident. These factors, along with others, can influence the final settlement amount in car accident cases in Texas.

Instead of focusing on what other victims receive in their settlements, your Dallas car accident lawyer will focus on your case. Your attorney will assess the damages you’ve incurred to calculate a settlement amount that reflects your needs after a devastating car accident in Texas.

Factors Used to Determine Settlement Amounts in Texas Car Accident Cases

There isn’t an exact formula for calculating a car accident settlement in Texas. There are several factors that may be assessed by your Fort Worth car accident lawyer when calculating the value of your claim. For instance, any of the following factors may be taken into consideration:

Medical Expenses

Medical expenses play a crucial role in determining car accident settlement amounts in Texas. The cost of medical treatment, including hospital bills, surgeries, rehabilitation, and ongoing care, is a significant factor considered when calculating compensation. Plaintiffs can seek reimbursement for past and future medical expenses incurred as a result of the accident, ensuring they receive adequate compensation for their healthcare needs.

Lost Income

Lost income resulting from the inability to work because of car accident injuries is another important factor in determining settlement amounts. Plaintiffs can seek compensation for both past and future lost wages or earning capacity caused by the accident. This includes wages lost during recovery periods, as well as potential earnings that may be affected by long-term disabilities or impairments resulting from the accident.

Property Damage

The extent of property damage to vehicles involved in the accident is also taken into account when calculating settlement amounts. Compensation for property damage typically includes repairs or replacement costs for damaged vehicles, as well as any other personal property damaged in the accident. Plaintiffs can seek reimbursement for the fair market value of their vehicles and any other belongings damaged in the collision.

Out-of-Pocket Expenses

In addition to medical expenses and lost income, car accident victims may incur various out-of-pocket expenses as a result of the accident. These expenses can include transportation costs for medical appointments, prescription medications, home modifications for disability accommodations, and other related costs. Plaintiffs can seek reimbursement for these out-of-pocket expenses as part of their overall settlement.

Pain and Suffering

Non-economic damages such as pain and suffering, emotional distress, and loss of enjoyment of life are also considered when determining car accident settlement amounts. While more challenging to quantify compared to economic damages, these damages are equally important in compensating plaintiffs for the physical and emotional toll of the accident. Factors such as the severity of injuries, duration of recovery, and impact on daily life are taken into account when assessing compensation for pain and suffering.

Comparative Negligence

Texas follows a modified comparative negligence rule, which means that the compensation awarded to a plaintiff can be reduced if they are found to be partially at fault for the accident. Plaintiffs can still recover damages even if they are partially at fault, but their compensation may be reduced based on their degree of fault as determined by the court or insurance adjusters.

For example, if you are considered to be 20% responsible for your crash while another driver is 80% to blame, then they will have to pay for 80% of your damages while you must account for the leftover 20%. Importantly, car accident victims will be unable to pursue compensation from other parties if their share of blame for their collisions exceeds 50%.

Insurance Coverage

The insurance coverage available to the parties involved in the accident can also impact settlement amounts. Car accident settlements are often limited by the insurance policy limits of the at-fault party’s insurance provider. Plaintiffs may need to pursue compensation from their own insurance policies, such as uninsured/underinsured motorist coverage, if the at-fault party’s insurance coverage is insufficient to fully compensate for their damages. Understanding the insurance coverage available can help plaintiffs navigate the settlement process and ensure they receive fair compensation for their losses.

How Can I Increase My Texas Car Accident Settlement Amount?

Rarely are the initial settlement amounts offered by insurance companies and negligent drivers adequate for injured Texas car accident victims. By taking the necessary steps, victims can increase their Texas car accident settlements to better reflect their needs.

To ensure that your settlement amount properly covers the cost of your injuries and any pain and suffering you’ve endured, you should take several steps. Most importantly, seek medical attention. It’s important that Texas car accident victims maintain regular appointments with medical professionals after a collision. It’s vital that you have detailed medical records outlining the severity of your injuries and their likely cause.

It’s also important to gather strong evidence that shows a negligent driver’s fault. This is where having an experienced Houston car accident lawyer can be invaluable to victims. Your lawyer can uncover compelling evidence that proves a Texas driver’s fault, allowing you to recover the damages you deserve.

Finally, because it can be so difficult to prove the need for non-economic damages, consider keeping a journal. Talk to your friends and family about the pain and suffering you’ve endured. Consider seeing a therapist to work through any trauma you’ve experienced from a Texas car accident. Taking such steps can help car accident victims in Texas increase their settlement amounts and begin to heal from a damaging collision.

How Will I Receive My Texas Car Accident Settlement?

Once a negligent driver’s insurance agrees to a settlement or a settlement is reached in a Texas car accident lawsuit, victims expect to receive the funds they’re due. It’s important to understand how and when you’ll recover compensation after reaching a car accident settlement in Texas.

Insurance Companies

If you’ve filed a claim against a negligent driver’s insurance, and their insurance has agreed to pay you a settlement, you can expect to receive the funds relatively quickly. According to Tex. Civ. Prac & Rem. Code § 542.057, insurance companies must pay settlements to injured victims within five business days of the date of notice. Generally, insurance companies in Texas offer lump sum settlements to victims. That being said, in certain cases, a Texas insurance company may pay a settlement to car accident victims over time.

Negligent Drivers

If you’ve filed a lawsuit against a negligent driver in Texas and reached a settlement agreement, it may be some time before you receive all the funds promised to you. Some Texas defendants are unable to pay an entire settlement at once. While lump sum settlements are often preferable to Texas car accident victims, structured settlements are not uncommon. Instead of paying the entire sum at once, defendants are allowed to pay a structured settlement in some cases. This means that a negligent driver can pay an injured victim their settlement amount according to a pre-determined schedule, decided by your attorney and theirs.

How Long Do You Have to Recover a Car Accident Settlement in Texas?

States statutes of limitations establish time frames for filing certain types of lawsuits. In Texas, the time limit to sue for your car accident injuries is governed by Tex. Civ. Prac & Rem. Code § 16.003. Accordingly, you will usually have up to two years from the date of a crash to file your case against the at-fault party.

Still, even though you may have up to two years to file your car accident lawsuit, you should not delay working on your case. In addition to filing on time, there are multiple other conditions that must be satisfied when bringing your case to court. By building your case early, you may afford yourself time to ensure that these necessary conditions are met.

Moreover, as time goes on, the evidence needed to support your case can become hard to collect and preserve. For example, a piece of physical evidence may deteriorate, or a witness may forget a pertinent detail surrounding your crash. The sooner you get to work on your lawsuit, the more efficient the process of evidence collection will be.

Importance of Legal Representation When Seeking a Car Accident Settlement in Texas

Having our Texas car accident attorneys by your side can significantly increase the likelihood of obtaining a higher settlement for your claim. The team at our law firm brings extensive knowledge of Texas personal injury law, experience in working with insurance companies, and a track record of successful outcomes for our clients. We understand the complexities of car accident cases and will diligently work to gather evidence, assess damages, and build a compelling case on your behalf. From investigating the accident scene to consulting with medical experts and collecting witness statements, we leave no stone unturned in our pursuit of justice for you.

Furthermore, our legal professionals will handle all communication with insurance companies, ensuring that your rights are upheld and that you are not taken advantage of during the negotiating process. Our lawyers have a deep understanding of the tactics used by insurance adjusters to undervalue or deny claims, and we will use our skills to counteract these strategies and secure the best possible outcome for you. Whether through skillful negotiation or aggressive litigation, we are dedicated to achieving the optimal result for your car accident claim.

Call Our Texas Attorneys Today if You’ve Been Injured in a Car Accident

If you need compensation for injuries sustained in a Texas car accident, reach out to our attorneys for help. For a free case evaluation with the Irving car accident lawyers at The Queenan Law Firm, P.C., call today at (817) 476-1797.