Navigating the aftermath of a car accident in New York can be overwhelming, especially when it comes to understanding the potential value of your personal injury claim. As an experienced attorney in New York, I’m here to help you understand the factors that significantly impact the settlement value of a car accident claim in the state.
What’s the Average Car Accident Settlement in NY?
The average car accident settlement in New York is approximately $287,000, significantly higher than the national average. This figure is influenced by New York’s no-fault insurance law, which limits smaller claims and often results in higher average settlements for serious injuries.
Keep in mind, however, that this is just an average, and the value of your case could deviate substantially. Each case is unique, and you must weigh multiple factors to determine what your case is worth.
Factors Most Impacting the Value of My Car Accident Settlement
Let’s look at the factors that have the most impact on the value of your claim.
Injury Type and Severity
The nature and severity of your injuries are primary determinants of your claim’s value. More severe injuries like traumatic brain injuries, spinal cord injuries, or broken bones typically result in higher settlements.
Liability
Determining who is at fault is crucial. In New York’s no-fault system, liability may not be as critical for PIP claims. However, this factor becomes more important for serious injury claims.
Damages
You can get compensated for economic damages, like medical expenses and lost wages, and non-economic damages, such as pain and suffering.
Available Insurance Coverage
The insurance coverage limits the involved parties carry can affect the settlement amount. Higher coverage limits may lead to higher potential settlements.
New York’s No-Fault Insurance Laws and Your Settlement
New York follows a no-fault insurance system, meaning your own insurance company covers medical expenses and lost wages up to a certain limit, regardless of who caused the accident. For additional compensation, such as for pain and suffering, your injuries must meet a certain severity threshold.
Time Limits for Filing a Personal Injury Lawsuit in NY
In New York, the statute of limitations for filing a car accident lawsuit is three years from the date of the accident. It’s crucial to act within this timeframe to ensure you preserve your right to pursue legal action.
Example of a Recent Car Accident Settlement I Achieved
In a notable case, I represented clients in a complex car accident claim that resulted in a substantial $8,500,000.00 settlement. This case involved intricate negotiations and a deep understanding of New York’s car accident and personal injury laws. The settlement was a significant achievement that reflected my commitment to getting justice and fair compensation for the severe impact the accident had on my clients’ lives.
Understanding the value of a car accident claim in New York requires considering various factors, including the severity of injuries, liability, damages, and insurance coverage.
If you’ve been involved in a car accident in New York, it’s important to consult with an experienced attorney who can help you navigate these complexities and fight for the compensation you deserve.
Contact me at 480-381-1015 to discuss your case and explore your legal options.
