What Is the Average Settlement in Motorcycle Accident Cases?
March 16, 2021 • Motorcycle Accidents
If you get injured in a motorcycle accident, you are most likely dealing with expensive medical bills and property repairs in addition to lost wages from being unable to work. Knowing how much your motorcycle accident case is worth can provide greater peace of mind about your financial future. It can also allow you to negotiate for an amount you know is fair from the insurer for your past and future losses.
There Is No Average Settlement Value
All motorcycle accident cases in Nebraska are unique. There is no single average amount that accurately depicts what a claimant will receive in financial compensation. Instead, insurance companies determine settlements on a case-by-case basis – as do juries in motorcycle accident injury trials. The value of your settlement will depend on many factors that are unique to you and your case, such as:
- The type of injury
- The level and extent of your injuries
- How long it will take you to heal
- Whether you have a long-term or permanent disability
- Any scarring or disfigurement
- Whether or not you are able to return to work
- Your average working wage
- Your age and overall health
- The insurance coverage available
In general, catastrophic injuries such as brain and spinal cord injuries will receive higher settlements than minor injuries. Some claimants recover $10,000 or less for the extent of their injuries and losses, while others receive millions for catastrophic injury claims. Rather than searching for an average settlement amount – which will not apply to your specific case – discuss your unique circumstances in detail with a motorcycle accident attorney. An attorney will accurately evaluate the value of your claim based on its individual factors.
Calculating the Value of Your Motorcycle Accident Case
You must have an idea of how much your motorcycle accident case is worth before entering into settlement negotiations. Otherwise, the insurance company will take advantage of you and devalue your losses. A motorcycle accident attorney can help you calculate the fair and full value of your claim, as well as handle settlement negotiations with an insurance company on your behalf.
Your lawyer will calculate your losses by first adding up the total amount of your financial or economic damages. These may include:
- Past and future medical expenses
- Disability accommodations
- Home or vehicle modifications
- Medications, prescriptions and medical devices
- Lost earnings and employment benefits
- Motorcycle repairs
- Out-of-pocket costs
- Travel expenses
- Legal fees
Then, your lawyer will estimate the value of your intangible or noneconomic damages. Noneconomic damages can include:
- Physical pain and suffering
- Emotional distress
- Mental anguish
- Psychological harm
- Anxiety or depression
- Loss of consortium
- Lost quality or enjoyment of life
Noneconomic damages are more difficult to calculate than economic damages, as you will not have hard numbers from medical bills or pay stubs to use. Instead, noneconomic damages are based on how severely the motorcycle accident impacted your life.
Do Not Rush Into a Fast Settlement
It is common for injured motorcycle accident victims to want to settle their claims as quickly as possible. You may be dealing with expensive bills and want to put the entire thing behind you. It is critical, however, not to rush into a fast insurance settlement.
You cannot reopen your case or renegotiate for a different amount once you accept a settlement in Nebraska. If you accept less than you deserve, therefore, you may not receive enough to pay for your future costs, including medical needs such as physical therapy and rehabilitation.
Rather than saying yes to the very first settlement offer you receive from an insurance company, bring your case to an attorney for an in-depth review. An attorney can analyze your injuries and losses to let you know how much your case is worth. Then, your attorney can take over insurance settlement negotiations on your behalf or take your case to trial, if necessary.