Car accidents are an unfortunate reality on the roads of North Carolina. They can leave victims dealing with a range of consequences, from physical injuries to financial burdens. One of the most common questions accident victims have is, “What is the average car accident settlement in North Carolina?”
The truth is that the potential settlement amount depends on the specifics of your case. There is no one-size-fits-all answer because every car accident is unique, with varying degrees of injuries, damages, and circumstances involved.
If you have been in a car wreck, reach out to our Raleigh car accident lawyers at Mogy Law to learn about your legal options and how much your case could be worth. Call us today for a free consultation.
What Is the Average Car Accident Settlement?
According to the Insurance Information Institute, the average settlement for bodily injury liability claims in 2022 was $24, 211. The average settlement for property damage liability claims in 2022 was $5,313. Every car accident case differs, and the final settlement depends on many factors.
Factors in Car Accident Settlements
The value of a car accident settlement in North Carolina hinges on the specific details of the accident, including the severity of the injuries involved, the extent of property damage, and the impact on the victim’s life.
Severity of Injuries
The nature and severity of car accident injuries play a significant role in determining the settlement amount. Severe injuries, such as spinal cord injuries, traumatic brain injuries, or broken bones, typically result in higher settlements due to the extensive medical treatment and long-term care required. On the other hand, minor injuries, such as bruises or sprains, may result in lower settlement amounts.
The more severe the victim’s injuries, the higher the medical expenses, which in turn can increase the settlement amount. More severe injuries also have a longer recovery time.
Lost Income
If the accident victim is unable to work due to their injuries, they may be entitled to compensation for lost wages. Additionally, if the injuries result in a diminished ability to earn income in the future, this loss of future earning capacity needs to be factored into the settlement amount.
An extended period away from work or a permanent disability can significantly impact car accident settlements.
Property Damage
The extent of damage to the victim’s vehicle and other personal property is also considered in a car accident settlement. The cost of repairing or replacing the vehicle, as well as any other damaged property, is typically included in the settlement.
Is Fault Clear?
If it’s clear the other driver was solely responsible, the insurance company is more likely to offer an adequate car accident settlement.
North Carolina follows a contributory negligence rule, which means that if the accident victim is found to be even partially at fault for the accident, they are not entitled to any compensation. If the insurance company tries to shift blame, you need a car accident lawyer to stand up for your rights.
Insurance Coverage Limits
The insurance policies of the at-fault party can also impact the car accident settlement. If the at-fault driver’s insurance limits are low, it may be challenging to recover the full compensation needed to cover all damages.
In such cases, the victim may need to explore other avenues for compensation, such as underinsured motorist coverage.
Compensation for Car Accidents in North Carolina
Car accident cases can include various types of compensation.
Medical Expenses
This includes all costs related to medical treatment, such as hospital bills, surgeries, medications, physical therapy, and future medical treatment that may be necessary due to the injuries.
Lost Wages
Compensation for lost wages covers the income the accident victim would have earned had they not been injured. This can include wages lost during recovery and, in cases of severe injuries, compensation for diminished future earning capacity.
Property Damage
Victims are entitled to compensation for the cost of repairing or replacing their damaged vehicle and any other property damaged in the accident.
Pain and Suffering
In addition to economic damages like medical expenses and lost wages, car accident victims may be entitled to non-economic damages for pain and suffering, emotional distress, and loss of enjoyment of life.
These damages are often more challenging to quantify but can significantly impact the final car accident settlement amount.
Punitive Damages
In some cases, punitive damages may be awarded if the at-fault party’s conduct was particularly reckless or malicious. These damages are intended to punish the wrongdoer and deter similar behavior in the future.
Courts only award punitive damages in rare cases. North Carolina law caps punitive damages at three times the amount of compensatory damages or $250,000, whichever is greater.
North Carolina Car Insurance Requirements
North Carolina drivers are required to carry a minimum amount of liability insurance coverage. Here are the minimum auto insurance limits in North Carolina:
- $30,000 for bodily injury per person
- $60,000 for bodily injury per accident
- $25,000 for property damage
These minimum coverage limits may not be sufficient to cover all damages in a serious car accident. Victims may need to pursue additional compensation through underinsured motorist coverage or by filing a lawsuit against the at-fault party.
The Deadline to File a Car Accident Lawsuit in North Carolina
You only have a limited amount of time to file a lawsuit after a car accident in North Carolina. The state’s statute of limitations for personal injury claims, including car accident claims, is three years from the date of the accident.
You must file your lawsuit within three years, or you may lose your right to recover compensation. Contacting an experienced car accident lawyer as soon as possible can help protect your rights.
Contact Us Today for a Free Consultation
The average car accident settlement in North Carolina can vary widely depending on the specifics of each case. Our legal team at Mogy Law will fight for the maximum compensation in your car accident claim.
Navigating the aftermath of a car accident can be overwhelming. Our experienced North Carolina car accident lawyers can gather evidence, negotiate with insurance companies, and advocate on your behalf to secure a fair settlement. If necessary, our car accident attorneys are prepared to take your case to court.
If you or a loved one has been injured in a North Carolina car accident, don’t wait to seek legal representation. Contact us today for a free consultation to discuss your case and learn more about your legal options.
