What Is the Average Car Accident Settlement in New Jersey?
Automobile accidents are one of the most common causes of emergency department visits in New Jersey each year. Car crashes can cost thousands of dollars in medical bills, property damage and other expenses. If you get involved in a car accident, understanding the potential value of your insurance settlement can allow you to plan more effectively for your future. Learn about average car accident settlements and how to navigate the state’s no-fault law with help from an experienced New Jersey car accident attorney.
How Does New Jersey’s No-Fault Law Work?
New Jersey is one of only a few states that operate under a no-fault auto insurance system. This system is designed to make it easier for crash victims to collect financial compensation for their related losses, which may include bodily injuries, medical bills and property repairs. Under this rule, car accident victims do not need to prove fault to qualify for financial compensation. Instead, they will seek benefits from their own car insurance providers, regardless of fault.
A type of insurance known as personal injury protection (PIP) coverage is required for all New Jersey drivers. This mandatory insurance will pay for a policyholder’s bills after a car accident, even if the driver was not at fault. However, a rule known as a tort exemption under Section 39:6A-8 of the New Jersey Revised Statutes allows victims with serious injuries to file third-party claims outside of the no-fault system. Serious injuries include permanent disabilities and significant scarring or disfigurement.
Types of Compensation Available
A first-party claim for PIP coverage after an automobile accident in New Jersey could result in a payout for the policyholder’s necessary medical care, losses of income, funeral expenses and essential services. If the victim has grounds to pursue compensation from another driver or a third party, the amount of compensation can increase to cover other losses. Various economic and noneconomic damages may be available, such as:
- Past and future medical bills
- Lost wages
- Loss of earning capacity
- Permanent disability
- Motorcycle repairs or replacement
- Pain and suffering
- Emotional distress
- Loss of consortium
- Wrongful death damages
- Punitive damages
While the same general types of compensation are available to car accident victims, no two cases are exactly alike. There is no definitive answer for car accident victims who want to know what the average settlement value is. A particular claim could be worth $10,000 or less or multiple millions. The best way to learn the value of your case is by consulting with a personal injury attorney in New Jersey.
Do Not Rely on “Average” Settlement Values – Contact a New Jersey Car Accident Attorney
Each car accident claim is unique. The value of a claim is determined according to its individual factors, such as the severity of the victim’s injuries, the amount of wages lost and the insurance coverage available. For this reason, you should not trust any “average” settlement values you see online. Instead, consult with a car accident attorney in New Jersey for a personalized evaluation of your case.
Contact an attorney before accepting a fast settlement from an insurance company. An insurance provider will want to save money on your payout to protect its own profits; a car accident attorney, on the other hand, will work for you to seek maximum damages. The lawyers at the Law Offices of Jeffrey Hasson, P.C., will take the time to learn how your car accident has impacted you and your family. Then, we will use proven legal strategies to fight for the best available case results.