The insurance industry doesn’t have an exact formula for calculating the average car accident settlement amount. If you only sustained damage to your car, you’ll typically be reimbursed based on the policy limits.

Pain and suffering compensation is only given when you have been injured. Therefore, it’s important to be examined by a doctor immediately even if you don’t think that you’ve been hurt.

Some automobile crash injuries, such as whiplash, don’t become evident until a few days after the crash. If you’ve already negotiated your settlement or waited too long to get medical care, you might not be compensated for the injury.

If you want to get a rough estimate of how much to expect from a car accident settlement, add up your expenses for medical bills, car repairs and lost wages. Multiply that sum by three.

For example, let’s say that you injured your back in a car accident and paid $5,000 in doctor’s bills. You were out of work for a week, which made you lose $2,000 in income.

Your average car accident settlement might be approximately $21,000. It is likely to fall somewhere between $14,000 and $28,000.
The settlement is generally higher for more severe or permanent injuries. You’ll also get paid more if the other driver was found to be driving under the influence.

When you’re filing an injury claim with the other driver’s insurance company, you’re limited by their policy maximum.

For example, if you sustained $30,000 in damages but their insurance limit is $20,000, you might need to sue the individual separately to reclaim the additional $10,000. You might be able to file with your own insurance company if you have under-insured motorist coverage.