Average Car Accident Settlement in North Carolina (2024)

Anyone involved in a North Carolina car accident is likely aware that the financial aftermath can be overwhelming. As the medical bills, vehicle repair, and lost wages begin to pile up, you may find yourself wondering what the average car accident settlement in North Carolina is. With so many different factors making up each case, there is no universal number. However, it’s important to understand the different factors that could affect your case.

Factors That Influence Car Accident Settlement Amounts in North Carolina

If you have recently been involved in a car accident in North Carolina, the following contributing factors could play a role in how much your final settlement award will be:

• Severity of InjuriesOne of the largest factors that impact car accident settlements in North Carolina is the extent of the injuries someone has suffered. The more serious the injuries, the greater the financial award could be. For example, cases involving traumatic brain injuries or spinal damage could see higher settlements as they require extensive therapy and medication to treat. The need for ongoing surgeries and physical therapy sessions also impacts these settlements largely.
• Property Damage CostThe amount of money needed to replace or repair any property that was damaged in a car accident will also be reflected in a final settlement award. The most common example of property damage is if the vehicle involved in the accident was damaged or totaled. The settlement could simply include the repair costs, or if the car was totaled, it would include the fair market value of the car. Other items damaged, like electronics, may also be covered.
• Lost Wages and Earning CapacityAny time that someone is forced to spend away from work to take care of their injuries from the car accident can be reimbursed through a compensation award. Lost wages are almost always a key part of any car accident settlement to ensure that no one suffers from missing out on wages they depend on due to an accident they did not cause. This portion of the settlement can be adjusted even higher if the injuries prevent you from returning to work.
• Pain and SufferingIn addition to the tangible costs laid out, there are other forms of compensation that cover injuries that the naked eye cannot spot. For instance, any emotional distress or clear evidence that someone’s quality of life has been diminished can be taken into consideration as well. For example, if someone’s injuries are so severe that they cannot return to hobbies they love or spend time with family, this could be reimbursed as well through their compensation award.

How North Carolina’s Laws Affect Settlements

Two main laws will influence your final settlement award in North Carolina:

1. Contributory NegligenceUnder North Carolina’s contributory negligence rule, the fault for an accident can be split between both parties. Even if the severely injured party was found 1% liable for causing the accident, they could be prevented from receiving any compensation. This could happen in situations where, for instance, a driver failed to use a turn signal before driving into traffic. Their contribution to this accident can prevent them from being compensated.
2. Insurance Policy LimitsThe total amount of insurance coverage available between the policyholders involved in the car accident can also affect a final settlement. For example, if the damages go beyond the policy limits of the at-fault driver, this could prevent the injured party from receiving as much compensation as they could if there were no policy limits. A car accident attorney can help explore alternative sources of compensation in these scenarios to ensure you are cared for.

FAQs

How Much Are Car Accident Settlements Worth in NC?

Each car accident is unique. The severity of the injuries, property damage, and insurance coverage limits all play a role in determining how much the final figure could be. A general rule is that the more severe the injuries are, the higher this settlement award could be. To ensure that no money is being left on the table, consult with a car accident lawyer to investigate every angle of the case and pursue every financial source possible.

How Long Does It Take to Settle a Car Accident Case in North Carolina?

There is no universal length to every car accident claim, as the unique factors that make up each case all contribute to its timeline. The most straightforward cases with minor injuries and minimal property damage generally conclude the fastest. This is especially true if there is a sole party at fault for causing the accident. Cases with serious injuries and conflicting narratives on what happened will extend a case’s timeline as liability is investigated.

Should I Accept the First Settlement From the Insurance Company?

You should seek the opinion of your car accident lawyer before accepting the first settlement offered by any insurance company. The historic perception of insurance companies is that they will offer a lower amount than what the claim is actually worth. While this is not always true, it’s advised that you seek a professional opinion before blindly accepting their offer. This can help you feel more confident that you are receiving the full amount of funds possible in your case.

What Should I Do If the Insurance Company Denies My Car Accident Claim?

If your insurance company has denied your attempt to receive compensation for your car accident, work with your attorney to better understand why this happened. Your attorney may find that there were certain details missing from your original filing that need to be added in. For example, you might need additional medical records or more photos from the scene of the accident to get approved.

Contact Elam & Rousseaux, PLLC

If you or a loved one experienced a car accident in North Carolina, connect with the car accident lawyers of Elam & Rousseaux, PLLC, today. We can help look into the details of the case and fight for you to receive the compensation you deserve.