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What is a reasonable settlement for a car accident?
A reasonable settlement for a car accident can vary from State to State. In Illinois, there are several factors used to determine what is a reasonable settlement. These factors include, but are not limited to the following:
- Is liability of the at-fault party accepted or denied by the insurance company?
- What is the total amount of medical expenses incurred by the injured party?
- What are the lost wages or lost future earnings incurred?
- What is the nature and extent of the injuries involved?
- What are the future damages?
- What is the loss of a normal life?
There is no set mathematical formula for determining what is a reasonable settlement. Obtaining an attorney who is experienced in automobile accident settlements will generally obtain higher settlements than non-represented injured persons.