Wondering how you can get maximum compensation from a pedestrian accident settlement?
Thousands of pedestrians are hit by cars and trucks every year, leaving victims to deal with devastating injuries, loss of wages, and high medical bills.
Here’s the problem:
Far too many accident victims settle their claims for far less than what they deserve. From rising pedestrian deaths (+80%) to insurance companies lowballing settlements, getting fair compensation is harder than ever.
The good news?
With the right strategy and legal guidance, you can maximize your pedestrian accident settlement. By partnering with a qualified pedestrian accident lawyer NYC, you can secure the best possible compensation and help protect yourself from the numerous pitfalls that pedestrian accident victims face.
In this ultimate guide, we will walk you through the strategies to help ensure you get every penny you deserve.
So if you’ve been injured in a pedestrian accident, read on to learn how to increase your settlement!
Inside this guide you’ll find:
- Understanding Pedestrian Accident Settlements
- How Much Do Pedestrian Accident Settlements Typically Pay?
- Pedestrian Accident Settlement Calculation: Factors That Increase Your Payout
- Pedestrian Accident Settlement Mistakes That Leave You Short-Changed
- How To Maximize Your Pedestrian Accident Settlement
Understanding Pedestrian Accident Settlements
A pedestrian accident settlement is the compensation you and the other party agree to settle a claim.
Here’s the thing…
The majority of personal injury claims are settled out of court. You will be dealing with an insurance company, whose goal is to pay you as little as possible. It’s essential to have a clear strategy in place.
How Much Do Pedestrian Accident Settlements Typically Pay?
First, let’s look at the numbers behind pedestrian accident settlements.
The average settlement is $277,250. The median settlement is $50,000. That’s a huge gap.
Why so much disparity?
As you might have guessed, settlement numbers depend greatly on the injury’s severity and the situation’s circumstances. Minor injuries can settle for $10,000 – $15,000, while moderate injuries (broken bones, etc.) can settle between $20,000 – $75,000.
On the other hand, life-changing injuries such as spinal cord injuries, traumatic brain injuries, permanent disabilities, amputations, etc. can see settlement numbers exceed $100,000 and even $1,000,000 in some extreme cases.
The more severe your injury, the higher the settlement.
Pedestrian Accident Settlement Calculation: Factors That Increase Your Payout
So how can you increase your pedestrian accident settlement?
The first step is to understand the key factors that drive pedestrian accident compensation higher.
Injury Severity & Long-Term Impact
As you would expect, the worse your injury, the higher the settlement.
Serious injuries lead to extensive medical expenses and ongoing care. When there is permanent disability, courts are more likely to award you higher compensation because of that.
Medical Expenses (Past & Future)
Medical bills do not lie.
Make sure that your settlement covers every medical-related cost (hospital stays, surgeries, medications, physical and/or occupational therapy, ongoing treatment, etc. ).
This includes all emergency room visits, specialists, procedures, and expected future medical costs. Thorough documentation of medical expenses is a must.
Lost Wages & Earning Capacity
Did your injuries keep you from going to work? Then you are entitled to compensation for every paycheck you have missed.
This is where many accident victims fail to claim compensation for lost wages. But it does not end there…
Serious injuries can reduce your future earning capacity.
In other words, your ability to earn money in the future. If your injuries prevent you from being able to return to your job, this can seriously impact the amount of your settlement, which should include compensation for diminished earning capacity.
Pain & Suffering
This is where some settlement amounts skyrocket.
Pain and suffering is physical and mental suffering you experience from your accident. Lawyers often multiply all your economic damages (medical bills, lost wages, etc.) by 1.5 to 5 times, depending on the severity of the injury and quality of life impact.
Clear Liability
The stronger the evidence that the at-fault driver was negligent, the better your case will be.
Fault cannot be disputed, when there are multiple witnesses, surveillance cameras and/or police reports.
Pedestrian Accident Settlement Mistakes That Leave You Short-Changed
What not to do after a pedestrian accident is often even more important than knowing the right steps.
Accepting The First Offer
Insurance companies are infamous for giving quick and very low settlement offers.
The goal is to get you to accept the “quick money” so they can avoid paying you your actual worth.
The reality is that first offers are never what your case is worth.
By accepting the first offer, you are waiving your right to pursue further compensation.
If a few months later you realize that your injuries are more serious than first thought, it is too late to go back and ask for more money.
Failing To Document Everything
If it’s not in writing, it didn’t happen.
Take photos of injuries, the accident scene and property damage.
Save all your medical records and receipts. The more evidence you have, the more it will be difficult for the insurance companies to deny your claim.
Giving Recorded Statements Without Legal Counsel
Insurance companies love recorded statements.
Their insurance adjusters will ask for them immediately and hope you will say something that could be used against you later.
The bottom line is, the more you talk without your lawyer, the higher the risk of reducing your settlement.
Not Seeking Immediate Medical Attention
Delaying medical treatment can be used against you.
If you waited a few days to seek medical attention or failed to follow doctors’ orders, it can be a sign that your injuries are not as bad as you claim.
Bottom line: even if you do not think you are injured, always seek medical attention as soon as possible after an accident.
How To Maximize Your Pedestrian Accident Settlement
Ready to take your settlement to the next level? Follow the steps below.
Get Medical Treatment & Follow Doctor’s Orders
Medical records are the foundation of your pedestrian accident case.
Seek medical attention immediately and follow all recommendations. Insurance companies use any opportunity to claim that your injuries are less severe than you report.
Gather All Evidence
Keep all the evidence of your pedestrian accident claim.
This includes the police report, witness’ statements, photos and/or videos of the scene, your medical records, and employment records. The more information you have, the stronger your case is.
Calculate Your Total Damages
Make a list of all of your losses, both past, present, and future.
Lost wages, future medical costs, and loss of earning capacity should all be taken into consideration when calculating the worth of your case. An experienced lawyer will help ensure you are not short-changing yourself.
Hire Experienced Legal Representation
This is the number one thing to maximize your pedestrian accident settlement.
An experienced pedestrian accident lawyer will know the ins and outs of pedestrian accidents. Insurance companies know this and are more likely to settle a claim for a higher amount, if a lawyer is involved.
Hiring a lawyer means legal fees (25% – 40% of the total settlement). However, their experience and expertise will often result in a much larger settlement.
The reality is that a lawyer will almost always get you more money than you would get by yourself.
Do Not Settle Too Soon
Some injuries do not present immediately after an accident.
Settling your case too soon can mean leaving money on the table. It’s important that you don’t settle until you have reached maximum medical improvement, which will give you an accurate representation of compensation you will need.
Key Takeaways
Maximizing your settlement can be the difference between being undercompensated and getting every penny you deserve.
Insurance companies have one goal in mind: to pay you as little as possible.
The only way to protect yourself and level the playing field is by having the right legal representation.
Do not accept first offers. Do not give recorded statements without legal counsel. Do not settle your claim too early.
Above all else:
Document everything, seek medical treatment immediately, follow doctors’ orders, and hire a qualified pedestrian accident lawyer who understands the nuances of these types of claims.
The difference between a low and a high pedestrian accident settlement could be hundreds of thousands of dollars.