Watch any amount of TV and you will see dozens on dozens of ads of guys snarling with pit bulls, jumping up and down on the roof of an 18-wheeler, or some with a softer touch, each trying to outdo each other in squeezing money out of insurance companies in auto accident cases. What’s going on here? Can you really get rich if you are in an auto accident?
State law requires that each driver have liability insurance of at least $30,000 per person, $60,000 per event for personal injury, and $25,000 for property damage. The majority of drivers in Texas only have this minimum coverage. It is estimated that 1 in 7 drivers have NO insurance.
If you are involved in an auto accident where the other person is at fault, and they only have minimum coverage, it is likely the maximum payout will be $30,000, but this does not mean you will get even this. If you hire an attorney, the typical charge is 1/3 to settle a case, and a higher percentage if a lawsuit is filed. If an ambulance takes you to the hospital, a typical charge is $1,500. You can expect emergency room charges to start at $1,500, even for minor injuries. If you need to follow up care with physical therapy, or a specialist, that will be thousands more. If the injury is more serious, such as broken bones that need an operation, anything under $10,000 is a bargain. If these costs are covered by insurance, Medicare, or Medicaid, each of these programs has a lien on any settlement monies you might receive.
If you are involved in a moderate fender bender with another car (under $5,000), your car repair and medical wills will most likely get covered, but after these and attorney fees are paid, your share will typically be modest.
The reality is, that there are big payoffs, if you are seriously hurt, such as broken bones, internal injuries, or brain damage, and the vehicle that caused the accident has a large amount of insurance coverage. Hope springs eternal. All the noise and fury of attorney television ads and highway billboards with snarling dogs and flame throwers are directed toward snagging the small percentage of “high dollar “ accidents.
If you are involved in an auto accident, no matter the seriousness, give the Law Office of Elliott Klein, PLLC, a call for a realistic evaluation of the results you might expect.