Average Settlement for Non-Injury Car Accidents
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Miami car accident attorneys at Bernstein & Maryanoff Injury Attorneys have the knowledge and experience necessary to get you maximum compensation for your car accident injuries.
Everyone with a driver’s license fears getting into a car accident someday. There are plenty of reasons for this, but the main one is that the driver could get seriously injured or killed.
However, injury isn’t the only hardship that can result from a car accident. Even if no one gets hurt in a crash, your car could easily be severely damaged. If you are like most people, you probably don’t have enough money to easily replace your car, and that could lead to significant financial difficulties.
Car insurance is supposed to help you recover financially from a car accident. However, it is only as effective as the settlement you receive.
Factors That Influence the Value of a Non-Injury Car Accident Settlement in Miami, Florida
How much money will you receive when you make a Miami car accident insurance claim? That depends on the following important factors:
- How much damage was dealt to your car
- The value of the car
- What type of insurance coverage you have
- Which party was at fault in the accident
- The policy limit of the at-fault party
- Any additional expenses associated with the damage
Insurance companies look at all of these factors when determining a settlement offer. If the offer is low, your lawyer will be prepared to argue for a more reasonable outcome.
Typical Range of Settlements Based on These Factors
Non-injury accidents usually involve less damage to vehicles than accidents involving injuries. Thus, the settlements in these cases usually range from a few hundred dollars to a few thousand dollars. The following are some common cases and likely outcomes.
- A new car damaged by someone with the minimum required policy: The minimum policy only covers $10,000, which would probably be the offer
- A heavily damaged older car: Older cars are likely to suffer more damage than the car is worth, which means the claimant would receive the total value
- Mostly cosmetic damage: Even cosmetic damage is expensive to repair, but it will likely result in about $1,000 to $2,000 in compensation
The limit of any settlement is usually the lower of the Kelley Blue Book value (or equivalent car valuation source) and the policy limit of the covering insurance policy.
How Long It Takes To Receive a Settlement
The process for making an insurance claim involves a lot of red tape. You need to report your accident, and then the insurance company needs to investigate it. This investigation can take days, weeks, or even months.
After it is complete, it will make an offer that you must accept or refuse. If you refuse it, you will need to appeal, potentially delaying payment by weeks or months.
Payment is usually relatively quick once you agree to a car accident settlement in Miami. You should expect a check within one to two weeks.
What To Do After a Non-Injury Car Accident in Miami
After a Miami accident, you should take all of the following steps:
- Report the accident to the police
- Report the accident to your insurance company
- Share contact and insurance information with the other driver
- Gather evidence at the accident scene
- Contact a Miami car accident attorney
That last step is particularly important if you want to receive fair compensation.
How Hiring a Lawyer Can Help
A Florida car accident attorney will start helping immediately. They understand the insurance process and can help you navigate it smoothly. They will also act as your representative in all dealings with the insurance company.
Determining Fault
Another benefit of hiring a Miami car accident lawyer is that they will investigate the accident and determine fault. All drivers in Florida are required to purchase at least $10,000 of property damage liability coverage. If your attorney can prove that the other driver was at fault, that policy will cover the damage to your vehicle.
Negotiating When the Insurance Company Offers a Low Settlement
What if an insurance company refuses to pay or offers less than you need? Your attorney will engage in a car accident settlement negotiation with the insurance company.
Typically, once a lawyer gets involved, the insurer will increase its offer, knowing that you are willing to file a lawsuit for the non-injury car accident if it refuses to negotiate in good faith.
Uninsured and Underinsured Drivers
According to the Insurance Information Institute, roughly 16% of drivers in Florida are uninsured. If your car is damaged by an uninsured or underinsured driver, you can get full compensation if you have uninsured motorist coverage.
However, if you don’t, your only option may be to sue the driver, who likely doesn’t have the funds to compensate you.
Effect of a Non-Injury Car Accident on Your Insurance Premiums
According to Florida law, your rates cannot increase after a car accident if you were not at fault for the wreck. However, your rates will likely increase by 50% or more if you are at fault. This is one of the reasons that you should hire a lawyer to investigate your claim.
Contact Bernstein & Maryanoff Injury Attorneys in Miami After a Non-Injury Car Accident
Sources:
Facts + Statistics: Uninsured motorists.
