There’s no better way to spend a beautiful day than to be out on the water. While nobody ever expects a boating excursion to take a turn for the worse, accidents do happen—and sometimes, they have lifelong consequences. In these cases, you may decide to bring a boat accident lawsuit to get the compensation you deserve. But as your lost wages and medical bills pile up, it could be time to research other options, like pre-settlement funding. Here’s what you need to know.
Boating Accident Statistics
According to the United States Coast Guard, there were 4,439 recreational boating accidents in the United States in 2021. Out of these accidents, 2,641 individuals were injured and 658 were killed. The top five accident types were collisions with another vessel, collisions with fixed objects, flooding or swamping, grounding, and falling overboard. By far the highest number of deaths were due to drowning, followed by trauma.
Causes of Boating Accidents
The Coast Guard report also lists the most common causes of boating accidents, which include:
- Operator inexperience: Experience and knowledge of safety rules is important—75% of deaths happened on boats where the operator didn’t receive safety instruction.
- Operator inattention: Distracted driving, such as texting, eating, or chatting with friends, leads to many boat accident lawsuits, just as it does with cars and trucks.
- Improper lookout: Boat operators are responsible for actively monitoring their surroundings. Not doing so could be considered negligence.
- Equipment failure: Engine failure and other mechanical problems can easily lead to a boat accident if the operator loses control of the vessel.
- Boating while under the influence: Alcohol is the leading contributing factor in fatal boating accidents, playing a part in 16% of deaths.
- Navigation rules violation: Sometimes operators know the rules and simply don’t follow them. Rules violations can be a strong case for a boat accident lawsuit.
- Hazardous waters: Hazards like bad or fast-changing weather, strong currents, and submerged objects can cause major damage to your boat and the people on it.
Types of Boating Accident Injuries
Some common injuries that result in boat accident settlements include:
- Lacerations: It’s easy to lose your balance on a boat, and cuts happen often. Propellors can also cause severe lacerations.
- Broken bones: The severity of a broken bone can vary, but a bad break can do permanent damage.
- Brain injuries: Slip and fall accidents are common on boats and can result in concussions, hemorrhaging, and serious traumatic brain injuries.
- Spinal cord injuries: Collisions can cause whiplash, and there’s also a danger of being thrown from the boat and damaging the spinal cord on impact with the water.
- Drowning: Drowning is by far the most common cause of death in boating accidents, accounting for 81% of fatalities.
Boat Accident Lawsuits and Compensation
If you’ve been injured in a boating accident, you may be able to get compensation from the operator who was at fault. Personal injury liability rules vary by state, but you will need to prove that the boat operator’s careless actions caused your injury. Then you may be able to recover compensation for your medical bills, future rehabilitation costs, lost wages, and pain and suffering—but costs can pile up as you’re waiting for your boat accident settlement. If you need cash now, you can turn to pre-settlement funding.
What Is Pre-Settlement Funding for a Boating Accident Lawsuit?
Simply put, personal injury pre-settlement funding gives you an advance on your settlement amount. It’s a portion of what you expect to receive, but it’s given to you before you settle. Once your case is settled or the court reaches a verdict, the funding company receives the previously agreed-upon portion of the settlement as payment.
How Long Does It Take to Get Pre-Settlement Funding for Your Boat Accident Lawsuit?
Pre-settlement funding is designed to get you cash, quickly. The application process is simple, and typically easier than a loan. You provide us with a few details, and we’ll call you and your attorney to get a better idea of your case. Once your application is approved and we’ve received the signed purchase agreement, we’ll send you the funds, typically within 24 business-hours.
What Are the Requirements for Pre-Settlement Funding?
While we won’t check your credit or employment status, there are a few requirements you need to fulfill. You must be represented by an attorney on a contingency basis, which means you’re only responsible for paying them if you win your case. You’ll also need to have a strong case, and have already filed or soon be filing your boat accident lawsuit.
How Much Money Can You Get from Pre-Settlement Funding for a Boating Accident Lawsuit?
Pre-settlement funding varies based on your expected settlement and the strength of your case, so it can range from $500 to more than $1 million. USClaims typically offers about 10% of your expected settlement, but can offer up to 12.5%.
How USClaims Can Help with Your Boat Accident Lawsuit
If you’re currently waiting for a boating accident lawsuit to finalize, keep in mind that you have other options. Recreational boating or cruise ship lawsuit funding can help you pay your bills while you wait for your case to settle. USClaims has low, capped rates, and we only get paid if you win a settlement. Apply now or call us today at 1-877-USCLAIMS to learn more.
- “Coast Guard Releases Summary of 2022 Recreational Boating Statistics.” United States Coast Guard News, www.news.uscg.mil/Press-Releases/Article/3398506/coast-guard-releases-summary-of-2022-recreational-boating-statistics/. Accessed 12 July 2023.
- Recreational Boating Facts | National Safe Boating Council. www.safeboatingcouncil.org/resources/recreational-boating-facts/. Accessed 12 July 2023.