Being injured in a motorcycle accident can significantly disrupt your life. You may be faced with expensive hospital bills, motorcycle repairs, lost wages and a variety of other losses. Obtaining a fair settlement from an insurance provider can make it possible to pay off your related debts and move forward with your life. It is normal to wonder how much your motorcycle injury settlement might be worth in Texas. It is important to realize, however, that an average settlement amount does not exist.
How Much Do Motorcycle Accident Victims Typically Make?
An average motorcycle settlement is a fallacy. Every case and client is entirely unique, making it impossible to assign a single number that applies to every motorcycle accident lawsuit accurately. While online research may give you numbers such as $80,000 or $200,000, these may or may not be close to the value of your individual claim. Settlement values are determined on a case-by-case basis, according to factors that are specific to each, such as:
- The gravity of your injuries
- Your recovery timeline
- Whether you have a permanent disability or disfigurement
- The extent of your property damage
- Your income before the accident
- Your age and overall health
- The number of defendants
- The amount of insurance available
Believing that there is an average settlement could hurt your case. For example, the number you might have found as an “average” settlement could be far less than your claim is actually worth. Some accident victims have obtained several million dollars in case results. Believing that your case is only worth several thousand dollars due to an average figure could result in you accepting an unreasonably low settlement offer from an insurance company.
What Are the Parts of a Motorcycle Injury Settlement?
The best way to determine the potential value of your motorcycle injury claim is by consulting with an attorney who has experience in this practice area. It can also help to understand the basic parts of a settlement award in Texas. This can allow you to calculate an estimated case value based on your specific losses and expenses. Three main types of damages may be available:
- Economic damages. This is the financial impact the motorcycle accident has on the victim, including medical expenses, losses of income and employment opportunities, motorcycle repairs, and legal fees.
- Noneconomic damages. The intangible ways in which the motorcycle accident impacted the victim, such as physical pain and suffering, mental anguish, emotional distress, and reduced quality of life.
- Punitive damages. This is an uncommon type of award granted when a defendant is guilty of gross negligence or recklessness in connection to the motorcycle accident. It is meant to punish the defendant rather than compensate the victim.
You may be able to estimate the value of your motorcycle injury settlement by adding up all of your economic damages, including future foreseeable expenses. Then, estimate your noneconomic damages by multiplying your economic damages by a number from one to five based on the severity of your injuries. This is the multiplier method, and it is commonly used by juries to calculate pain and suffering. Although this is not a guarantee of what your case is worth, it can give you an idea of your settlement potential.
How Can You Increase Your Motorcycle Injury Settlement?
Securing a fair and full amount for a motorcycle accident in Dallas can help you and your family move on after a devastating collision. You may be able to increase the value of your settlement by taking the correct steps after your collision, such as calling the police right away and going to the hospital without delay. It can also help to hire an experienced motorcycle accident attorney
to negotiate with an insurance claims adjuster on your behalf. An attorney will know the tactics often used by an insurance company to avoid a large payout, as well as how to counter them.