Pedestrian Accident

Pedestrian Accident Settlements: How Much Can You Expect?

Posted on by Fast Funds
Pedestrian Accident Settlements How Much Can You Expect
20
May

Pedestrian accidents can be devastating, leading to severe injuries and significant financial strain. If you’ve been involved in such an incident, you might be wondering about the average settlement for a pedestrian hit by a car. Let’s delve into the intricacies of pedestrian accident settlements, exploring what factors influence them and how you can navigate this complex process to secure the compensation you deserve.

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How Are Pedestrian Lawsuits Resolved?

Pedestrian accident settlements can be resolved through various channels, including insurance settlements and court verdicts. Understanding these avenues is crucial for maximizing your compensation.

Insurance Settlements

In many cases, victims pursue compensation by filing a claim with the insurance provider of the liable party. Depending on the jurisdiction and insurance coverage, you may also have the option to claim from your own insurance policy. However, navigating insurance settlements can be intricate, often requiring legal help to ensure you receive fair compensation.

Trial Verdicts

If negotiations with the insurance company fail to yield adequate compensation, pursuing a lawsuit through civil court may be necessary. Unlike insurance settlements, court verdicts offer the opportunity to recover damages more comprehensively. While some states impose caps on damages, others allow for more extensive compensation.

What Damages Can You Recover?

Determining the value of your pedestrian accident claim involves evaluating both economic and non-economic damages. Understanding these categories is essential for accurately assessing your losses.

Economic Damages

These encompass tangible financial losses incurred as a result of the accident. Examples include medical expenses, loss of income, property damage, and other monetary burdens directly attributable to the incident.

Non-Economic Damages

In addition to financial losses, victims may also be entitled to compensation for intangible harms such as pain and suffering, emotional distress, loss of enjoyment of life, and disfigurement. While quantifying non-economic damages can be challenging, they represent a crucial aspect of your overall compensation.

Factors Influencing Settlement Amounts

The damages from a pedestrian accident settlement can vary widely, from $10,000 to $500,000 or even more. The broad range is because several factors can influence the average settlement for a pedestrian hit by a car. These include:

Severity of Injuries

The extent and severity of your injuries play a significant role in determining the compensation you’re entitled to. Severe injuries that result in long-term disability or significant impairment generally command higher settlements.

Medical Expenses

The total cost of medical treatment, including current and future expenses, will impact your settlement amount. This encompasses hospital bills, rehabilitation costs, and ongoing therapy expenses.

Lost Income

If your injuries prevent you from working or result in diminished earning capacity, you may be entitled to compensation for lost wages and future income loss.

Insurance Coverage

The insurance policies held by the at-fault party and yourself can influence the available compensation. Adequate coverage increases the likelihood of obtaining full restitution for your losses.

Negligence and Liability

Establishing the negligence of the driver and proving liability are critical aspects of securing a favorable settlement. Evidence demonstrating the driver’s fault can strengthen your case and enhance the likelihood of a substantial settlement.

- WHAT CLIENTS ARE SAYING -

In June, my wife and I asked our attorney about giving us a loan against any settlement proceeds from our case. He told us that the state bar does not
permit lawyers to participate in the financing of clients. The offer of settlement was very low so the case needed to be filed in court. I called Fast Funds. Within 24 hours, I had entered into an agreement with them, selling a very small portion of the anticipated proceeds to them in exchange for immediate financing. Now my suit is in court and I don't have to worry about money until it's outcome. Thank god for Fast Funds
B.G.
As a result of the advances you have made to our client, we were able to refuse an extremely low settlement offer and take the case to court. We settled the day of the trial for a very generous sum. Had there been no advances by Fast Funds, our client would have had no choice but to accept the inadequate offer since he was in severe debt due to his inability to work. Thank you for your helpful assistance in providing our client with the ability to persevere.
C.F.
I was involved in an accident which took my left leg. I was forced to live homeless for eleven months. Thanks to the Fast Funds people advancing money. I now live in an apartment,I am walking on a prosthetic and otherwise getting my life back together, even though my attorney has not yet settled my lawsuit. I don't know what I would have done for money because the insurance company has offered nothing so far.
A.R.S.
I was involved in an auto accident which caused me to suffer a herniated disc. Because of this injury, I was forced to miss many months of work. I had no income and no place or person to turn to for money. My attorney told me he was unable to help with any financing and the insurance company was refusing to settle the case. I turned to a company called Fast funds. They immediately reviewed my file and took the financial pressure off by providing me with interim financing. I am now able to wait for as long as it takes for my lawyer to achieve a successful result in my case. Without the financial involvement of Fast Funds, I don't know what I would have done.
K.P.
I wanted to thank you for your sensitivity in helping me cope through a very difficult time in my life. Without your help, I would have been unable to pay my rent , forcing my wife and children to be put on the street. I have not been able to return to work and I was tempted to accept the insurance company's very low offer to settle, even though I knew it was not fair or reasonable. You have given me the ability to withstand the financial pressures. Thanks for your help. I will never forget it
C.S.
I have in the past referred clients to Fast Funds Inc., a non-recourse company. The experience of my clients
and my firm were totally positive. Fast Funds was responsive to the clients financial and emotional needs, provided the necessary emergency money and did not interfere in any manner with my handling of the cases. The clients, without my input, negotiated the advance directly with the company. In each case, they were completely satisfied with the final result of the case, including the amount of profit earned by Fast Funds. Non-recourse funding is clearly a valuable tool to the plaintiff's attorney.
M.J.L.
"I am writing to recommend the valuable assistance of the Fast Funds Inc., a company that provided interim funding to financially needy clients. They help to insure that a case will be brought to a successful resolution. A good case in point is when I was offered $75,000.00 for a seriously injured client. Had she not been able to take advantage of the advance financing offered by Fast Funds, I would have been forced to take the money. As it turned out, because my client now had the financial ability to withstand the pressures of time, I tried the case to a jury and received a verdict of $315,000.00.
M.S.D.
It is my belief that non-recourse companies, such as Fast Funds, the company to whom I refer my needy clients, perform an invaluable service to both the client and the attorney. Simply put, it is common knowledge that one of the tools negotiation utilized by insurance companies is time. Offering
considerably less money than the actual case value to a client in desperate need of funds while the case is pending, gives the insurance companies a tremendous advantage. This advantage is minimized and the playing field is leveled when the client has the ability to obtain funds for a minimal portion of the anticipated proceeds. Many times, with no prospects of income, an injured party will settle the case for whatever offer is made.
R.J.F.

Timelines and Pre-Settlement Funding

It’s important to manage expectations regarding the timeline for receiving your pedestrian accident settlement. While some cases may be resolved relatively quickly, others can drag on for months or even years, particularly if litigation is involved. Factors such as negotiation complexities, court schedules, and appeals processes can contribute to delays in receiving compensation.

If you’re facing financial hardship while awaiting your settlement, pre-settlement funding offers a viable solution. Unlike traditional loans, pre-settlement funding provides you with a cash advance against your anticipated settlement amount. This enables you to cover immediate expenses such as medical bills, living costs, and other financial obligations without waiting for your case to conclude.

Frequently Asked Questions

How does comparative negligence impact pedestrian accident settlements?

Comparative negligence laws vary by state and can significantly affect the outcome of a pedestrian accident case. In states that follow a comparative negligence system, compensation may be reduced proportionally based on the plaintiff’s degree of fault. Understanding how comparative negligence laws apply in your jurisdiction is crucial for assessing your potential recovery and strategizing your legal approach. An experienced attorney can evaluate the circumstances of your case and navigate the complexities of comparative negligence to maximize your compensation.

What role does evidence play in proving liability in pedestrian accident cases?

Evidence is paramount in establishing liability and securing a favorable settlement in pedestrian accident cases. This may include eyewitness testimony, police reports, surveillance footage, medical records, and expert opinions. Collecting and preserving evidence in a timely manner is essential for building a strong case. Additionally, presenting compelling evidence during negotiations or trial proceedings can sway the outcome in your favor and bolster your claim for damages.

Are there potential sources of compensation beyond the at-fault driver’s insurance policy?

In some cases, additional sources of compensation may be available to pedestrian accident victims. This could include coverage under the driver’s employer’s insurance policy if the accident occurred during the course of employment. Additionally, uninsured or underinsured motorist coverage held by the victim or their family members may provide supplementary compensation if the at-fault driver is uninsured or lacks adequate coverage. Exploring all potential sources of compensation is essential for ensuring you receive full restitution for your losses.

What are the long-term consequences of pedestrian accidents beyond immediate injuries?

Pedestrian accidents can have enduring repercussions that extend far beyond the initial physical injuries. Victims may experience chronic pain, disability, psychological trauma, and reduced quality of life. Furthermore, ongoing medical treatment, rehabilitation, and adaptive equipment may be necessary to manage long-term impairments. Understanding the full scope of potential consequences is essential for accurately assessing the value of your claim and advocating for comprehensive compensation.

How do settlement negotiations typically unfold in pedestrian accident cases?

Settlement negotiations in pedestrian accident cases often involve extensive back-and-forth between parties, including insurers, attorneys, and potentially mediators. Both sides may present evidence, assess liability, and calculate damages to reach a mutually agreeable resolution. Negotiating a fair settlement requires a thorough understanding of legal principles, case precedent, and the specific circumstances of the accident. Tried and true negotiation tactics, coupled with effective advocacy, can facilitate a favorable outcome without the need for protracted litigation.

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What recourse do pedestrians have if the at-fault driver is uninsured or underinsured?

If the at-fault driver lacks adequate insurance coverage, pedestrians may face challenges in recovering full compensation for their losses. In such cases, uninsured motorist (UM) or underinsured motorist (UIM) coverage held by the victim’s insurance policy may provide recourse. These policies are designed to step in and cover damages when the at-fault party is unable to do so. Additionally, pursuing legal action against the uninsured driver personally may be necessary to secure restitution, although collection efforts can be challenging.

What are the potential tax implications of pedestrian accident settlements?

Pedestrian accident settlements are generally considered non-taxable income when they are awarded as compensation for physical injuries or emotional distress. However, certain elements of the settlement, such as punitive damages or interest, may be subject to taxation. Understanding the tax implications of your settlement is essential for proper financial planning and compliance with tax laws. Consulting with a tax professional or financial advisor can provide clarity on how your settlement may impact your tax obligations.

What options are available for pedestrians who require ongoing medical care or assistance?

Pedestrian accidents can result in significant medical expenses and long-term care needs for victims. In addition to compensation obtained through a settlement or verdict, various resources may be available to assist with ongoing medical care and support. These may include government assistance programs, disability benefits, charitable organizations, and community resources. Exploring all available options can help ensure that pedestrians receive the necessary care and assistance to facilitate their recovery and improve their quality of life.

How can pedestrians protect themselves from future accidents and injuries?

Taking proactive measures to enhance pedestrian safety is essential for reducing the risk of future accidents and injuries. This may include adhering to traffic laws, using designated crosswalks, wearing reflective clothing at night, and remaining vigilant while walking near roadways. Additionally, advocating for improved pedestrian infrastructure, such as sidewalks, crosswalk signals, and traffic calming measures, can contribute to safer walking environments for pedestrians of all ages and abilities.

What recourse do pedestrians have if they were injured in a hit-and-run accident?

Hit-and-run accidents present unique challenges for pedestrians seeking compensation for their injuries. In such cases, it’s crucial to report the incident to law enforcement immediately and gather any available evidence, such as eyewitness accounts or surveillance footage. Depending on the circumstances, victims may be able to pursue compensation through their own uninsured motorist coverage or other legal avenues. Working with an experienced attorney can help navigate the complexities of hit-and-run claims and maximize the chances of obtaining compensation.

What steps should pedestrians take immediately following an accident to protect their rights?

In the aftermath of a pedestrian accident, taking prompt action to protect your rights and preserve evidence is essential. This may include seeking medical attention for injuries, documenting the scene of the accident, obtaining contact information from witnesses, and contacting law enforcement to file a report. Additionally, refraining from making statements or signing documents without legal representation can help prevent potential pitfalls that may compromise your claim. Consulting with a knowledgeable attorney as soon as possible can provide valuable guidance and advocacy throughout the claims process.

Alleviating Your Financial Burden Fast

If you’ve been injured in a pedestrian accident, don’t bear the financial burden alone. Fast Funds is here to support you every step of the way. Our team focuses on providing pre-settlement funding to help you cover immediate expenses and regain financial stability while awaiting your settlement.

Contact us today to explore your options for pre-settlement funding and take the first step towards securing the compensation you deserve. With Fast Funds by your side, you can focus on your recovery with confidence, knowing that your financial needs are taken care of.

Don’t delay  reach out to Fast Funds now and get the support you need during this challenging time. Your path to financial relief starts here.