What Is The Average Settlement For A Maryland Car Accident?
Our attorneys can fight for the maximum compensation you deserve
If you have been injured in a car accident caused by another driver in Maryland, one of the options available to you is to accept a settlement offer to pay for your accident expenses. But what exactly is a settlement? What is the average settlement? And how much money is your car accident worth?
We can answer all these questions and more at our Silver Spring law firm. That’s because our Maryland car accident attorneys at Goldberg Finnegan have years of experience helping injury victims obtain the maximum financial compensation they deserve, either in the form of a settlement or court verdict. As a result, we thoroughly understand how Maryland’s car accident compensation system works. Case results truly matter here.
What is a car accident settlement?
A car accident settlement is a one-time payment designed to settle a case. That means if someone accepts a settlement offer, their legal case is finalized and closed. As a result, someone who accepts a settlement offer cannot ask for more money in the future.
Many times, insurance companies will make a settlement offer to an injury victim soon after a car accident. It can be tempting to take such an offer. However, many times, Insurance companies make a low-ball settlement offer that does not cover all your expenses. This is why it’s important to carefully consider any settlement offer before agreeing to accept it.
What is the average settlement for a car accident?
Many lawyers and insurance companies will throw around different numbers in response to this question. Some might claim the average car accident settlement is $15,000. Others might quote a much higher number.
But these numbers can be very deceiving. That’s because every car accident is different and unique. Even if you’re in a car accident that seems similar to someone else’s, your accident could be worth far more money. That’s because your car accident expenses might be much higher.
It’s also important to remember that you should not have to pay for your accident if someone else caused your collision. This is because Maryland has what’s known as an at-fault car insurance system. That means the at-fault party must pay for all your car accident-related expenses in Maryland.
Who decides how much money my accident is worth?
You might be surprised to learn that insurance companies often have the most to say about how much money someone should receive in the form of a car accident settlement. Not surprisingly, because the at-fault driver’s insurance company often has to pay your car accident settlement, they often undervalue how much money your settlement claim is worth.
Fortunately, you have options available to you. And one of them is negotiating a better settlement offer with the insurance company. Technically, you can do this on your own. But it’s important to understand that insurance company negotiators often have years of experience doing such work. As a result, they know how the process works and will often do everything they can to pay you as little as possible or nothing at all.
Having an experienced attorney on your side familiar with the car accident compensation process in Maryland can help level the playing field. Your lawyer can also do everything they can to obtain the largest possible settlement to pay for all your accident expenses.
Should I accept a settlement or file a lawsuit?
There’s no simple answer to this question. Sometimes, the best thing to do is accept a settlement offer, especially if you receive a fair settlement that pays for all your accident-related expenses.
However, in many other cases, the best way to get the money you rightfully deserve is to file a car accident lawsuit. This is especially true if the at-fault driver’s insurance company negotiates in bad faith and denies your injury claim or makes a low-ball settlement offer.
So how you do decide what to do? Often, the best way is to talk to an experienced Maryland car accident attorney you trust. Our lawyers can talk with you, free of charge. Simply schedule a free case evaluation at our Silver Spring law firm.
Your case matters here. Contact us today for a free case evaluation
The car accident settlement process in Maryland can be confusing. This is especially true when it comes to finding out how much your case could be worth. It’s also important to understand that you often only have one opportunity to obtain the money for a lifetime’s worth of car accident expenses.
Our attorneys know what’s at stake. That’s why we take such cases so seriously at our Silver Spring law firm. For us, it’s about more than just money. It’s about helping people who truly need our help the most. That’s why the advice we give to clients is the exact same advice we would give to a family member.