It is no longer news that motorcycle accident situations are often brutal, and the damages are severe. According to the NHTSA, motorcycle accidents are often more dangerous than car accidents. Perhaps, this is why nobody ever wants to get into such situations. Sadly, we cannot completely control our chances of getting involved in this accident because the causes can often be another person’s fault. However, the good news is that you can get adequate accident compensation for your damages and injuries if you do the right things.
But then, you should be guided appropriately with the correct information to make the most out of this settlement. Indeed, one of the things you should know about includes how much your accident compensation should be worth.
Luckily, we will discuss essential things you should know about motorcycle accident compensation and how the valuation works here. So, read on to discover more eye-opening information.
What is Our Most Common Motorcycle Accident Settlement Amounts?
Regarding accident compensation, it is crucial to note that each case has its attributes. And they are often judged according to their unique merits. However, the settlement amount can often fall within a range, especially for cases with similar characteristics. This means you can get an idea of how much accident compensation you will receive by considering what other similar cases usually get.
Indeed, as motorcycle accident and personal injury lawyers, we have been involved in helping many victims to negotiate accident settlements. While on this, our most common accident settlements have been between $10,000 and $35,000. And it often depends on the case’s severity. For instance, the settlement in less serious accidents can be lesser than accident compensation for more severe cases.
What Kind of Damages May be Sought in a Motorcycle Accident Claim?
There are two major accident compensations you can file for after a motorcycle accident, and they include the following:
- Economic damages: This includes all damages that can be calculated in specific dollar amounts. They are tied to monetary or physical losses whose value can be calculated in dollar equivalents. Some include medical costs, loss of earning capacity or wages, motorcycle repair or replacement, etc.
- Non-economic damages: This type of damage is also often referred to as general damage. They are often not quantifiable in monetary or dollar value. Some include emotional or physical pain and suffering, fear, anxiety or humiliation, mental anguish, emotional distress, loss of enjoyment, etc. One thing about this damage type is that it is often challenging to calculate and demonstrate. So, you will need the services of an experienced motorcycle accident lawyer to help you.
There is also wrongful death damage, which comes up in extreme situations. This damage type entails that the family members of a deceased accident victim can file a wrongful death settlement claim. Indeed, a family member’s death often leaves a massive emotional and financial burden on other family members. However, collecting accident compensation for wrongful death can help to reduce the burden in such cases.
As already mentioned, proving any damage in an accident case can be tricky, and you will need a personal injury attorney to help you navigate the process.
How Much is a Good Accident Compensation for a Motorcycle Accident?
To know the best settlement amount for your case, you need to learn about the average settlement for motorcycle accident cases. Well, the average accident compensation for motorcycle accidents today is about $80,000. But then, it is crucial to note that this is just an average figure at best, and it is not a guarantee that you will get the same amount. Most victims might not even receive anything close to the amount as their accident compensation.
If you are interested in knowing your particular case’s settlement, consider consulting an accident settlement calculator. However, you should know that the calculations are often done according to your case’s peculiarities. Plus, even though the average motorcycle accident compensation amount is high, the typical amount many people receive is often lower.
How Long will the Settlement Take?
The time it will take to get your accident compensation will also vary according to the peculiarities of your case. However, it often takes an average of 30 days to six weeks after you have been in the accident. Some factors that affect how long your settlement will take include the accident’s severity, the insurance company, your bike accident lawyer, etc.
Sometimes, it might take 20 to 30 days before the insurance adjuster offers you a first settlement offer. After this, you can discuss the offer with your attorney to determine if it is okay or too low. However, you should note that the first settlement offer from an insurance company is sometimes the best.
The Difference Between Settlement Value vs. Trial Value in a Motorcycle Accident Case
When it comes to motorcycle accident compensation, you should know that there are often two types of valuations. They include the trial value and settlement value. You should also know that the settlement value is often much lower than the trial value. However, it is what you should put your hopes on. This is so that you can avoid losing the case at trial. After all, in the legal industry, a bird at hand is worth more than two in the bush.
On the other hand, trial value entails how much you reasonably expect to get as a settlement if you win at trial. This amount is often much higher than the settlement value. However, experts will always advise you to only go for it if you are sure of winning the case at trial.
Coleman Law Group can Help You
Of course, it is crucial to note that the quality of attorneys you hire for your motorcycle accident case will also contribute to the success of your accident compensation claim.
Not to worry, though; our team of attorneys at Coleman Law Group is always ready to help you make the most out of your settlement claim. Contact us today, and you will never regret your decision.