Although none of us want to think about being involved in a mishap while on the road, unfortunately, accidents happen. This is especially the case for those who ride motorcycles on a regular basis. There are multiple cases of people who find themselves suddenly left scrambling to find legal representation after an accident. If you have questions about motorcycle accident lawsuit funding, the following is an overview of the most frequently asked questions.
What is the average motorcycle lawsuit payout amount?
Generally speaking, the average settlement amount motorcycle accident payout largely depends on the extent of the damages. In particular, motorcycle cases tend to have higher settlement amounts due the fact that they are more likely to have a serious injury involved. In extreme cases, these injuries are life-changing. Therefore, the average amounts of a motorcycle accident settlement is typically in the $100K+ range. However, an individual motorcycle accident payout may be more or less than this amount.
How long does it take for the lawsuit to be settled and received?
Once again, this varies on a case by case basis. However, motorcycle lawsuits tend to take more time to be settled and received, due to the fact that they are typically so severe in nature. Typically, these cases can last an average of two or more years. However, cases where injuries require disability, a life care plan can be provided to care for the injured. Given that these are the most extreme cases, they can take up to 5 years and the settlements are often in the several million dollar range.
What common motorcycle injuries pay the most?
Some of the most common injuries caused by motorcycle accidents are:
- Loss of limbs that require amputation
- Traumatic Brain Injury (TBI)
- Back and neck injuries
Are there common types of motorcycle accident factors that affect the settlement amount?
Just as with other types of accidents, there is a wide array of factors that can cause motorcycle accidents. However, one of the most common are slick road conditions. This is because these are known to contribute to many motorcycle accidents, as these conditions make it so people are unable to brake as quickly. This typically results in head-on collisions, sideswipes and rear-end hits.
What loans work best for motorcycle accident lawsuits?
Due to the length of these cases and the severity of motorcycle crash lawsuit cases, pre-settlement funding should be done slowly or with installments to pay bills only. While taking out large lawsuit loans can be tempting, this often proves to be a costly mistake later down the line.
What role does insurance play in the settlement?
Insurance companies typically like to settle motorcycle cases when their driver is a fault. They usually have high injuries and if the plaintiff is injured for life, then a jury could possibly award a large amount out of sympathy.
- Motorcycle accident payouts are typically larger than other accidents due to their severity.
- Most motorcycle accident lawsuits take years to settle.
- Pre-settlement funding should be done slowly or in installments to cover necessities only.
Need help securing legal funding?
If you need help securing legal funding, we’re here to help. Simply contact our team of professionals here at Legal Bay, and allow us to assess your unique circumstances and find out how we can better assist you. Rather than trying to handle everything alone, getting settlement loans can be one of the best ways to ensure your finances are covered until your motorcycle accident settlement has been finalized and dispersed.