Getting into an accident is a stressful experience, especially if you have injuries or property damage. Those issues only get bigger and more complicated if you’re dealing with an uninsured motorist claim. And, it may be a more significant problem than you think – on average, about one in eight drivers is uninsured, meaning it could happen to anyone.
While every case is different, you may wonder how much people typically receive for an uninsured motorist settlement. Depending on the case specifics, settlements may be a few thousand to tens of thousands of dollars or more. The Law Offices of Chip Forstall help you understand uninsured motorist cases and what kind of settlement you can receive.
Understanding Uninsured Motorist Claims
On Louisiana’s bustling roadways, unpredictable things may occur, and accidents happen. Sometimes, the driver at fault may not have the proper insurance coverage. In these cases, uninsured motorist claims are used to try to recover damages due to another driver’s negligence.
Uninsured motorist claims act as safety nets for situations when you’re injured, or your property is damaged, and the at-fault driver doesn’t have insurance (or sufficient insurance coverage) to compensate you fairly.
To navigate these claims successfully, it’s critical to understand the factors influencing settlement amounts and the legal requirements surrounding the process.
Factors Affecting Settlement Amounts
Every claim is different, but some common factors affect uninsured motorist settlement amounts. Understanding how they impact your case is key to managing your expectations and achieving a fair settlement.
Insurance Policy Limits
The amount of uninsured motorist coverage on your insurance policy will typically dictate the maximum settlement for the accident. While Louisiana requires a minimum coverage amount, some policyholders opt for additional coverage.
Injuries and Medical Expenses
Medical bills play a big role in determining your settlement amount. The severity of your injuries and the costs associated with your recovery will directly impact the settlement.
For example, a severe back or neck injury with long-term implications will likely receive a higher settlement than a simple whiplash case. That’s why it’s critical to document all your expenses and injuries, past and future.
The cost to repair or replace your vehicle and any of your other property involved in the accident will be considered when determining a fair settlement offer.
If you have to miss work due to your injuries or suffer a reduced earning capacity for the future, these financial damages should also be factored into the settlement.
Emotional Distress or Pain and Suffering
Non-economic damages such as emotional distress, anxiety, physical pain, and suffering can also influence the settlement. A skilled attorney will help establish a value for these losses to secure fair compensation.
Having an experienced car accident or personal injury attorney will make a big difference in how the insurance company treats you. Your lawyer will negotiate with the insurance company for you and ensure you receive the highest settlement possible.
How Much Is A Typical Uninsured Motorist Settlement?
Determining how much a settlement will be depends on the specifics of the case, as no two incidents are identical. Some cases, like those for a minor injury, may settle for $5,000 to $10,000.
In other cases, the settlement amount is much higher. A more serious injury may settle for well over $20,000, while a severe injury may yield a settlement of over $100,000.
The best way to maximize your settlement and ensure you achieve justice for your damages is to consult an experienced personal injury attorney who will act on your behalf.
How Long Does An Uninsured Motorist Settlement Take?
One of the most common questions people have before they get into a legal battle is, “How long will it take to reach a settlement?” This is a normal concern, but unfortunately, there is no one-size-fits-all answer.
The timeline for settling your case will depend on several factors. The case’s complexity, the evidence-gathering process, negotiations, the insurance company’s response, and your attorney’s expertise can all play a big role in how long it takes.
However, most cases settle in anywhere from a few months to several years. Having an experienced attorney on your side can help ensure the process runs smoothly and results in a favorable outcome.
What To Do If You Get A Settlement Offer
Receiving a settlement offer for your uninsured motorist claim is a significant milestone, but it’s crucial not to rush into a decision. The first step should be to consult your attorney immediately. They will evaluate the offer’s fairness and ensure it covers all your damages, now and in the future.
If the offer falls short or doesn’t address all your losses, your attorney will negotiate with the insurance company to secure a better deal. It’s critical to avoid making a hasty decision and have patience throughout the process.
Remember, your attorney is your advocate. Their guidance is invaluable in helping you make the right choice regarding a settlement offer. Patience is key to securing a fair settlement and achieving justice for your damages.
Insurance companies sometimes try to drag things out, hoping you’ll get impatient and settle for less than you deserve. But having the right attorney by your side will help prevent these tactics and ensure you get fair treatment.
Consult A Skilled Attorney To Get The Highest Possible Settlement For Your Uninsured Motorist Case
If you’ve been involved in an accident with an uninsured motorist, you don’t have to go through the legal process alone. Whether it’s understanding the factors that influence settlements, estimating a fair settlement amount, or evaluating an offer, the team at the Law Offices of Chip Forstall will be by your side throughout the entire process.
Remember, insurance companies want to minimize their payout, not take care of your needs. So, having a knowledgeable and experienced attorney is crucial to securing the compensation you deserve.
Contact us today, and let us go to work for you. We will make sure your rights are protected, and you receive the justice and compensation you’re entitled to. Your road to recovery can start today, and we’re here to help you every step of the way.