Why are some car accident cases worth $4,000.00 Thousand and others $90,000,000.00 Million?

 

Recently, one of my clients asked me why their car accident case was only worth $10,000.00. As a dedicated Car Accident Lawyer, I was able to answer the question. There are a multitude of factors why some car accident cases yield an astronomical amount of money and others only nuisance value. A nuisance value car accident settlement is where the inconvenience of the car accident is accounted for.

For example, one of my clients lost a few days of work as the result of a car accident. The time it took to get the vehicle repaired and the time off work as a result of the accident ruining the day meant the client had a nuisance value car accident. We were able to get the insurance carrier, after diligent work, to recognize that the car accident had caused damages that must be accounted for in the amount of $4,000.00. That was what is known as a nuisance value car accident settlement. Keep in mind that the insurance company most likely would not have provided such a settlement without a dedicated car accident lawyer diligently pursuing the rights of their client.

Other cases, yield multimillion dollar settlements. For example, it is commonly said that Tracy Morgan got a $90,000,000.00 million dollar settlement. This was the result of several factors. Tracy Morgan was said to have had a head injury and was in a medically induced coma for two weeks. Being in the hospital results in high damages. If someone goes to the emergency room via ambulance from the scene of an accident the damages are likely to be significant.

However, there are other factors as to why someone may have significant injuries but may not obtain a larger settlement compensable to their damages. This can result from several factors such as, the at-fault parties policy limits and the facts of the accident. As automobile insurance is a state regulated industry, different states have different laws regulating auto insurance. In some states, like Virginia or Washingon, D.C., the minimum insurance policy a carrier is supposed to write for a vehicle is $25,000.00. In other states like Florida, the minimum insurance is $10,000.00. Some companies, like Walmart (the liable party in Tracy Morgans Case) Are what is known as “Self-insured” and essentially are liable to the tune of the value of the company. Some people, as a general matter get higher insurance policy coverage for their assets. An attorney most likely, will not know the policy limits for a car accident case until the Insurance Policy Declaration Disclosure has been provided by the insurer.

Also, the facts of the case are a large indicator as well as to the settlement value yielded by a car accident case. For example, one of my clients essentially rear-ended someone else. We were only able to get this client a $7,500.00 car accident settlement because of the facts of how the accident happened. Had the client been rear-ended and fault indisputable, the settlement would have most likely been higher. But, the facts of the case were not in my client’s favor. On another case, one of my clients was rear-ended by a suspected drunk driver whom fled the scene. The insurer, after diligent attorney work from a dedicated car accident attorney, was able to see that nothing short of the policy limits of $100,000.00 was reasonable. In any event, facts very form case to case, the policy liability limits very from case to case and the damages very from case to case. It is most certainly best to take advantage of a free consultation from a car accident lawyer.

Please note that none of the foregoing is legal advice and if you have a legal matter you should most likely contact an attorney, even if you decide not to call me you should probably still get in contact with a lawyer. The Law Offices of Christopher G. White, P.A. is a Global Law Firm available for free consultations via Facetime, Skype, Zoom or phone number (434) 660-9701. Please also check out my website at chriswhitelawyer.com. Thank you for reading, please also note my other practice areas, like Security Clearance Lawyer. At my Law Firm we focus on the best result for the client. To stay connected we have Youtube Channel, Instagram, Facebook, Twitter, LinkedIn, Tumblr, Blogger, Reddit, Yelp, Avvo and Justia. Thank you for your time and consideration.

The Law Office of Christopher G. White, P.A.

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9424 Baymeadows Rd. Ste. 250

Jacksonville, FL 32256

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