What Is the Average Car Accident Settlement in Florida?

What Is the Average Car Accident Settlement in Florida?

If you are involved in an accident on Florida roads or highways, it isn’t unusual to feel stressed and overwhelmed. Even cases of minor fender benders can result in significant costs down the road. If you sustain a serious injury, the costs of treatment and lost time at work can be astronomical.

In Florida, personal injury law requires that people meet set criteria to legally file a claim for compensation against the at-fault driver. Usually, this claim can only be filed if the cost of the accident exceeds your PIP (personal injury protection) coverage.

If you meet the criteria to file a claim, you will likely wonder what amount of compensation you can receive. Unfortunately, there is no “average” claim amount. The amount of compensation you can receive after a car accident depends on factors like your injuries, property damage, lost income, pain and suffering, and more.

While there is no way to know the precise amount of compensation you will receive, at Fetterman Law our legal team can investigate your claim and provide you with an estimated value of what you should receive for the accident.

Related Article: Understanding The Florida Car Accident Settlement Process

Determining the Amount of Your Car Accident Settlement

Specific information is needed to determine the amount of compensation you can receive when you file a lawsuit after a car accident. What you refer to as a “car accident” may be very different than what someone else views as a car accident.

For example, if you are involved in an accident that only results in minor or no injuries, the amount of compensation you will receive is going to be much less than if your accident resulted in serious injuries or fatalities.

According to Florida law, you are required to contact the authorities after a car accident if any of the following occurs:

  • Property damage that exceeds $500
  • Personal injury
  • Fatalities

However, some people involved in minor accidents don’t contact the authorities. While this may be fine, it is important to note that having a police report – even for a minor accident – can be extremely beneficial if you do file a lawsuit.

Along with the police report, some of the other information that your attorney will use to determine the value of your car accident claim includes:

  • Cost to repair or replace your vehicle
  • Medical costs 
  • Lost wages or lost earning capacity
  • Estimated costs for ongoing care

All this information is combined and used to determine what your case is worth.

While your car accident settlement amount will be unique to the facts of your case, most claims range from $10,000 to $60,000. However, some claims are worth much more than this. Because of the wide span of claim values, it is imperative to have an experienced and knowledgeable attorney working with you.

Related Article: What Happens When A Car Accident Case Goes To Trial?

Damage Caps in Florida Car Accident Claims

A damage cap is a legal limit put on how much compensation you can legally be offered for damages in your car accident case. In Florida, the only damage caps that apply to personal injury cases are those for punitive damages.

These are awarded to punish the at-fault party. While caps are put on these damages, they are not commonly awarded in car accident cases.

In the Sunshine State, the cap for punitive damages is typically no more than a three times multiplier of your compensatory damages or a max award of $500,000.

Related Article: 5 Things You Should Never Say To An Insurance Company After A Car Crash

Your Guide to Filing a Florida Car Accident Claim

Are you struggling to get the at-fault party’s insurance company to make a fair settlement offer? If so, this is not uncommon. If you don’t have legal representation, insurance companies will “lowball” their offer in hopes you will accept.

However, with the help of an attorney, you can file a lawsuit against the at-fault driver and their insurance company. Be sure to seek legal representation to ensure the process is handled properly.

At Fetterman Law we understand how challenging it can be to navigate these legal waters alone. Our professional and experienced legal team is here to help you with your case and provide legal advice. We can negotiate with the insurance company for the at-fault driver and advise when you should accept or reject a settlement offer.

Trying to recover from the injuries sustained in a car accident can be difficult. You don’t have to deal with the added stress of a complicated legal process. Contact our office today to schedule a free initial consultation to discuss your situation and claim.

Read More