Average Car Accident Settlement in North Carolina (2024)

If you were recently in a car accident in North Carolina, you are likely wondering about the value of the average car accident settlement in North Carolina. Car accident settlements can vary widely, but common factors are considered when attorneys pursue this important form of compensation for their clients.

Automobile Insurance Laws

A good starting point for determining average car accident settlement figures is the state’s mandatory automobile insurance laws. These laws were established to cover typical car accident settlements, making them a helpful reference point when estimating average settlement amounts.

State insurance laws require all drivers to have insurance policies that can pay $30,000 for bodily injury to one person and $60,000 for two people. Policies are also required to cover upwards of $25,000. Not every settlement is paid entirely from automobile insurance policies.

Common Factors

Whether the settlement is paid from the insurance carrier or directly from the driver or another group, there are common factors that determine how large your settlement will be. These can include the following factors.

• Severity of injuries: The extent and seriousness of injuries sustained can greatly increase settlement values, especially if they require long-term treatment or result in permanent disability. More severe injuries typically result in higher compensation due to increased medical needs and life impact.
• Medical expenses: Immediate and anticipated medical costs, such as hospital stays, surgeries, medications, and rehabilitation, are a major component in calculating settlements. These costs can significantly raise settlement amounts, especially for ongoing treatment needs.
• Lost wages and earning capacity: If the injury causes you to miss work or limits your future ability to earn compensation, lost income or diminished earning potential may be included. This factor considers both past lost wages and future limitations in earning capacity due to injury.
• Property damage: The extent of the vehicle and other property damage will also factor into the total settlement, typically covered by insurance. Property repair or replacement costs are often substantial and add to the overall settlement value.
• Pain and suffering: Non-economic damages, like pain and emotional distress, are often considered and can significantly influence settlement amounts. These damages reflect the mental and emotional impact of the accident and can increase compensation.
• Fault and liability: North Carolina does not allow plaintiffs to seek compensation in court if they are even partially at fault for causing the accident. Conversely, clear liability can lead to higher payouts. In cases of clear liability, settlements are often more favorable to the injured party.

Why Quality Legal Representation Matters

Another factor that can influence the size of your settlement is the quality of your legal representation. An experienced personal injury attorney can carefully calculate your settlement estimate to make sure it includes full compensation for your injuries and financial losses.

Once your lawyer has made the estimates, they can take action by demanding that the at-fault party make a fair settlement offer. Personal injury attorneys are skilled negotiators who can gather evidence to strengthen your claim. If the at-fault party does not make a fair settlement offer, your attorney can take them to court by filing a personal injury claim.

FAQs

What Is the Average Settlement for a Car Accident in North Carolina?

Car accident settlements vary widely and are based on factors that are unique to each case. If you are in an accident, your settlement may be based on your medical bills, lost wages, and other factors. Having legal representation can greatly improve the chances that you receive a favorable settlement. Your attorney can be a strong advocate for fair compensation.

How Long Does It Take to Settle a Car Accident Case in North Carolina?

The length of time it takes to settle a car accident depends on whether the settlement is reached outside of court or through a personal injury claim. If your lawyer can negotiate a favorable settlement directly through negotiation with the at-fault driver’s car insurance carrier, your case could be resolved much quicker. Anything involving the courts could take longer to resolve.

How Much Are Most Car Accident Settlements?

A car accident settlement can be a substantial figure, especially when there is serious bodily injury involved. The costs of medical treatments, damage to the vehicles involved, and other factors are included in settlements. Ultimately, the final figure will depend largely on the quality of your legal representation. An experienced personal injury attorney can take steps to maximize the final settlement figure for you.

Will My Settlement Pay Me for Lost Wages?

Yes, your car settlement can compensate you for lost wages and other forms of financial losses that result from the accident. The goal of a personal injury claim is to restore you financially. This means that any costs you incurred due to someone else’s negligence should be paid back by the at-fault party. Having strong legal representation can improve the chances of you receiving fair compensation in a timely manner.

Do I Have to Accept a Settlement Offer?

You do not have to accept a settlement offer, and your attorney can be a great source of counsel when making that decision. A settlement should fairly compensate you for your financial losses. If the defendant does not make a fair settlement offer, you have the right to reject that offer. You can also make counteroffers with the help of your attorney.

Schedule Your Car Accident Settlement Consultation Today

Reaching a fair settlement agreement can help you find relief during a difficult time. Once the financial stress of your ordeal has passed, you’ll be glad that you sought legal representation following a car accident. The experience of your personal injury attorney can greatly influence the outcome of your settlement negotiation process.

Throughout the process, The Law Office of William T. Corbett, Jr., P.L.L.C. will be there to guide you and handle tough negotiations on your behalf. We never settle for less than you are owed, and you can trust us not to back down when it comes to demanding fair and just compensation for your injuries. To schedule your consultation, contact our office today.