March 06, 2023

What Is the Average Settlement for a Car Accident in Maryland?

A car accident can change your life – physically, emotionally, and financially. If you are injured in an accident, you can seek compensation in several ways, like agreeing with a settlement with your insurance company or the negligent driver. However, before accepting a settlement, it is important to take into consideration certain factors.

Settlements usually consider several things, including property damage, your medical bills as a victim, loss of income, and more. If you do not agree with the settlement and believe that the number should be higher, you can decline the settlement and file a lawsuit if needed. You may need professional assistance in handling your car accident claim, and it is when you should contact a car accident lawyer.

Typical Settlement for a Car Accident

In Maryland, the typical settlement for a car accident could depend on the type and severity of injuries the victims acquired, the amount of property damage, and the overall impact on the victim’s life. Some car accident settlements in Maryland can range from $15,000 for minor cases to $100,000. Generally, the more severe the accident and resulting injuries, the higher the settlement will be.

How To Determine the Settlement for a Car Accident in Maryland?

You may wonder: how much money do you get from a car accident settlement? If you are involved in a car accident in the state of Maryland, you should seek compensation from the person (another driver) who caused the accident. There are two ways to seek compensation: by filing a lawsuit or through an insurance settlement. However, there are certain factors that should be taken into consideration because every car accident and every victim is different.

It is important to know that Maryland is an at-fault state. What does it mean? It means that the driver who caused an accident is responsible for damages and medical bills. As a result, the victim of the accident can seek compensation directly from the driver.

If you decide to seek compensation through an insurance settlement, it is important to understand that the insurance company will not be on your side. Instead, they will do all they can to minimize the claim. Even if you are successful in receiving compensation this way, there are other factors that should be considered. For example, if the driver who caused an accident carried the minimum coverage required by the state of Maryland, it may not be enough to cover all the expenses.

Before agreeing to a settlement, the severity of the injuries and the damage to the car should be taken into consideration. If you think that a settlement is not fair or is not sufficient, it might be a good idea to seek an injury lawyer.

Filing a Lawsuit for a Car Accident Settlement

The amount of compensation you can receive after filing a lawsuit also depends on economic and noneconomic losses. For example, the money you need to repair your damaged car is considered economic damage, while your personal injuries and medical bills as a result of them are noneconomic losses. Other noneconomic losses that are usually taken into consideration when you file a lawsuit include emotional distress, loss of wages and income, and loss of consortium.

You can negotiate the terms of a settlement even after filing a lawsuit. In fact, filing a lawsuit and then trying to negotiate the terms of a settlement may actually increase your chances of being offered a higher amount. There are many cases that are settled hours before the trial is about to start. The general rule that you should know about is the longer you proceed with the legal action, the higher settlement might become.

Contact a Car Accident Lawyer in Silver Spring

If you or your family member have been involved in a car accident and got injured, it is recommended to contact an experienced car accident lawyer for a consultation. If you are in Maryland and are looking for legal help, Silver Spring lawyers at Montero Law Group are ready to assist you.

If you would like to know more about Maryland car accident laws, or you want to discuss your possible personal injury lawsuit with our car accident lawyer in Silver Spring, do not hesitate to contact us today.