Bus accidents can cause numerous economic and non-economic damages. If you’ve been in a crash with a bus, you may be wondering about your claim’s potential value.
A bus accident settlement’s worth will depend on the circumstances of the accident and the damages you incurred. If you’ve been injured in a bus crash, you may be facing a slew of unexpected expenses. Personal injury pre-settlement funding can help you pay your bills until your case is resolved.
How Much is the Average Bus Accident Settlement Worth?
Since every case is unique, there is no average bus accident settlement. Some victims receive tens of thousands of dollars, while others receive millions. The value of your settlement will depend on the circumstances of the accident and the damages you suffered.
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What Factors Determine a Bus Accident Claim’s Worth?
Several factors dictate the value of a bus accident claim, including:
- Severity of injuries: More serious injuries (such as traumatic brain injuries, spinal cord injuries, or broken bones) generally lead to a higher settlement.
- Medical expenses: The amount you’ve spent on medical treatment and the projected costs of your future care will significantly influence your settlement.
- Lost wages: If your injuries prevent you from working, you can include lost wages in your claim. If your injuries cause long-term disability, future lost income can also be part of your settlement.
- Pain and suffering: Non-economic damages like pain and suffering, emotional distress, and loss of enjoyment of life are harder to quantify but are still a critical part of a bus accident settlement.
- Liability: Bus accident claims often involve multiple parties, including the bus driver, the bus company, and other drivers. The liable parties’ degree of negligence could affect the value of your settlement.
- Insurance coverage: The type and amount of insurance coverage available can also play a significant role in the calculation of your settlement.
- State laws: Some states have comparative negligence laws that can reduce compensation if you are partially at fault for the accident.
What Types of Compensation Can You Recover?
In a bus accident claim, you may be eligible for several types of compensation, including:
- Economic damages: These include medical bills, lost wages, and property damage. Economic damages are typically easier to quantify because they involve actual financial losses.
- Non-economic damages: These include pain and suffering, emotional distress, and loss of enjoyment of life. Non-economic damages are harder to calculate, but they can still be included in your settlement.
- Punitive damages: In rare cases, punitive damages may be awarded. These are designed to punish the responsible party for particularly egregious behavior (such as reckless driving or intentional misconduct) and deter others from engaging in similar behavior.
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Who Pays After a Bus Accident?
In a bus accident, the party responsible for paying the settlement depends on the circumstances of the crash. Here are the most common scenarios:
- The bus driver: If the bus driver acted negligently, such as by driving under the influence or engaging in reckless behavior, you may be able to pursue compensation through their insurer.
- The bus company’s insurance: If the bus company is liable for the accident, their insurance policy will typically cover your settlement.
- Another driver’s insurance: If another driver is at fault for the bus accident, their insurance may cover your settlement.
- Your own insurance: If there is no clear at-fault party, or if the liable party’s insurance is insufficient, your own auto insurance policy may provide coverage.
- Government entities: If a city-owned bus was involved in the accident, the local government entity may be responsible for compensating you.
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How Long Does a Bus Accident Settlement Take?
The length of time it takes to settle a bus accident claim varies from case to case. Simple cases where liability is clear and injuries are minor may be resolved within a few months, while more complicated cases that involve multiple parties or significant injuries can take a year or longer.
Factors like negotiations with the insurance company, the need for additional medical evaluations, and court proceedings can all influence a case’s timeline.
What is Pre-Settlement Funding, and How Does It Work?
Pre-settlement funding is a non-recourse cash advance you receive while you wait for your settlement to be finalized. This type of funding can be helpful if you’re facing financial hardship due to medical bills, lost wages, or other expenses related to your accident.
It’s important to note that pre-settlement funding is not a loan. If you lose your case, you don’t have to repay the funds.
How Long Does Pre-Settlement Funding Take?
The process of securing pre-settlement lawsuit funding is relatively quick. Once your application is approved, you can expect to receive the funds within a few days. On the other hand, if you wait to receive your full settlement, you may not get paid for months.
What Can I Use Pre-Settlement Funding For?
You can use pre-settlement funding for any life expenses related to your accident. This may include:
- Medical bills
- Lost wages
- Rent or mortgage payments
- Car repairs or replacement
- Everyday living expenses
Pre-settlement funding is designed to help you meet your day-to-day needs while your case is pending and ensure you don’t have to settle for less than you deserve.
Apply for Pre-Settlement Funding Today
Bus accident cases can take months to conclude. If you’re facing financial hardship while waiting for your settlement, let Pegasus Legal Capital help. In over 10 years in business, we’ve provided risk-free funding to over 15,000 people facing situations just like yours. This money allows you to meet your daily expenses now rather than on the court’s schedule.
Don’t let financial stress cause you to accept a low settlement offer. Apply today to get the financial relief you deserve.
Your pre-settlement funding consultation is free — contact us today!