Every car accident case in North Carolina is unique. This can make it difficult to estimate an average settlement value, as the number will be arbitrary and most likely not accurate for your individual case. Instead of relying on averages, consult with an experienced Wilmington car accident lawyer to determine the true value of your case.
The Danger of Using “Average” Settlement Values in North Carolina
While this may not be the answer you are looking for, it is important to realize that there is no “average” settlement value that is a true representation of how much your car accident case might be worth. This is because case values vary significantly based on the unique circumstances.
For example, online searches show that the average settlement may be around $20,000. However, some cases are worth significantly more – including into the millions for catastrophic injuries and deaths. If you settle your case for a conceived average amount, therefore, you could accept far less than you deserve.
Factors That Affect Car Accident Settlement Values in North Carolina
Numerous factors can impact how much a car accident case in North Carolina is worth. An insurance company will consider factors such as:
- Injury severity
- Medical costs
- Future foreseeable healthcare
- The extent of property damage
- The evidence available
- The victim’s comparative fault
- The crash circumstances
- Insurance policy maximums
The unique facts surrounding your case can alter its value drastically. This is why you should not base your expectations on an average number.
Mandatory Insurance Minimums in North Carolina
Every motor vehicle operator in North Carolina is legally required to carry a minimum amount of automobile insurance to pay for car accidents they cause. These amounts are currently $30,000 per person and $60,000 per accident in bodily injury or death coverage, as well as $25,000 in property damage liability coverage. The other driver involved in your crash should have at least this much insurance to pay for your losses.
What Should a Car Accident Settlement Pay For?
A car accident settlement in North Carolina can pay a victim for various losses suffered, both economic (monetary) and noneconomic (non-monetary). While every case is unique, common examples include:
Economic Damages:
- Past and future medical bills
- Therapy and rehabilitation
- Medications and medical devices
- Lost wages
- Lost future capacity to earn
- Disability costs
- Household services
- Property damage repairs
- Funeral and burial expenses
- Out-of-pocket costs
Noneconomic Damages:
- Physical pain and suffering
- Emotional distress or anguish
- Mental or psychological trauma
- Post-traumatic stress disorder
- Scarring or disfigurement
- Loss of enjoyment of life
- Loss of consortium
- Grief or anguish
A car accident attorney can help you list all of your compensable damages and collect evidence to support your claim, such as bills, wage statements, and witness testimony.
Does North Carolina Have Any Damage Caps?
North Carolina only has a cap on exemplary or punitive damages. Punitive damages are awarded in some cases to punish a defendant for egregious acts of wrongdoing. All personal injury cases, including car accident claims, are subject to a punitive damage cap of $250,000 or three times the amount of the victim’s economic damages – whichever is greater. However, this cap does not apply to drunk driving cases involving drunk drivers.
Find Out Much Your Car Accident Case Is Worth
Protect your rights as a car accident victim in North Carolina by waiting to accept an insurance settlement offer until speaking to an attorney. A lawyer can review your specific case and circumstances to give you an accurate idea of how much your individual claim may be worth. An attorney can take over negotiations with an insurance provider on your behalf to fight for the greatest possible monetary recovery.
For more information about a specific car accident case in North Carolina, contact Shipman and Wright to request a free consultation.