How Are Car Accident Settlements Calculated?

FREE CASE EVALUATION

  • We’ll win or it’s free.
  • 200+ 5 Star Reviews
  • 5000+ Cases Prepared for Trial

How Are Car Accident Settlements Calculated?

If you’ve sustained an injury in a car accident due to no fault of your own, you’re most likely now seeking financial compensation to help cover the cost of your medical bills, lost wages, and other damages you’ve incurred as a result of the incident. Please continue reading and reach out to a dedicated New York City personal injury lawyer from the Law Office of Richard M. Kenny to learn more about how car accident settlements are calculated in NYS and how our legal team can help you through the process. Here are some of the questions you may have:

What is a car accident settlement?

A car accident settlement is a financial agreement. It compensates victims for losses incurred due to a car accident. In these agreements, the responsible party or their insurance company pays the victim. This payment aims to cover various damages, such as medical expenses and lost wages. Settlements are negotiated outside of court, often with the assistance of attorneys.

How are car accident settlements calculated in New York State?

Calculating settlements in New York State involves several unique considerations. New York is a “no-fault” insurance state. This means each party’s insurance covers their own damages, regardless of who caused the accident. However, for serious injuries or damages exceeding a certain threshold, victims can pursue claims against the at-fault driver. The compensation amount typically depends on factors like the severity of injuries and the impact on the victim’s life. Medical bills, lost earnings, and property damage are usually the starting point. Pain and suffering, often harder to quantify, are also taken into account. New York law also considers comparative negligence, which can reduce compensation if the victim was partly at fault.

Should I hire an attorney to help maximize my compensation?

Navigating the complexities of car accident settlements can be challenging. An experienced personal injury attorney provides invaluable assistance. Attorneys understand the nuances of New York’s laws and insurance policies. They can effectively negotiate with insurance companies, aiming to secure fair compensation. Legal representation is particularly crucial when dealing with severe injuries or disputes over fault. Lawyers also help in quantifying non-economic damages like pain and suffering. With an attorney, you’re more likely to achieve a settlement that truly reflects your losses and future needs.

If you have any further questions or you’d like to file a personal injury claim, please don’t hesitate to contact our legal team today.

CONTACT OUR EXPERIENCED NEW YORK CITY FIRM

Our entire legal team is dedicated to providing the advice you need and the personalized attention you deserve. If you have been injured due to another party’s negligence, call 866-886-0892 or fill out our contact form to schedule a free consultation with a New York City personal injury lawyer. You may be entitled to financial compensation, which can help you on your road to recovery.

Recent Blog Posts

The Importance of Receiving Medical Treatment After a Slip & Fall
At the first hint of injury, it is crucial to protect your health and your legal rights by seeking medical attention. If you've been injured in a slip and fall… Read More
Can I Hold My Landlord Civilly Liable for an Injury?
Typically, tenants trust that their landlord maintains a safe environment for them. However, that is not always the case. Tragic apartment accidents and injuries may occur due to negligence. Individuals… Read More
Can I Sue for a Slip & Fall Injury in a Fast Food Restaurant?
If you were injured in a slip and fall accident at a fast food restaurant, you will need to reach out to our firm today to speak with an experienced… Read More
What Are Some Examples of Negligent Security?
Negligent security occurs when property owners fail to provide adequate safety measures on their premises, leading to harm. These oversights can range from insufficient lighting to non-existent surveillance, creating ripe… Read More
What if My Child is Injured While At Daycare in NYC?
Entrusting your child to a daycare facility comes with the expectation of safety and care. Yet, accidents happen, raising concerns and fears among parents. Please continue reading and reach out… Read More
Who is Responsible if I’m Injured Due to Dangerous Bus Stop Conditions?
Though virtually no one expects to sustain an injury while simply waiting for the bus to arrive, bus stops are sometimes neglected and pose a wide array of safety hazards… Read More
The Importance of Receiving Medical Treatment After a Slip & Fall
At the first hint of injury, it is crucial to protect your health and your legal rights by seeking medical attention. If you've been injured in a slip and fall… Read More
Can I Hold My Landlord Civilly Liable for an Injury?
Typically, tenants trust that their landlord maintains a safe environment for them. However, that is not always the case. Tragic apartment accidents and injuries may occur due to negligence. Individuals… Read More
Can I Sue for a Slip & Fall Injury in a Fast Food Restaurant?
If you were injured in a slip and fall accident at a fast food restaurant, you will need to reach out to our firm today to speak with an experienced… Read More
What Are Some Examples of Negligent Security?
Negligent security occurs when property owners fail to provide adequate safety measures on their premises, leading to harm. These oversights can range from insufficient lighting to non-existent surveillance, creating ripe… Read More
What if My Child is Injured While At Daycare in NYC?
Entrusting your child to a daycare facility comes with the expectation of safety and care. Yet, accidents happen, raising concerns and fears among parents. Please continue reading and reach out… Read More
Who is Responsible if I’m Injured Due to Dangerous Bus Stop Conditions?
Though virtually no one expects to sustain an injury while simply waiting for the bus to arrive, bus stops are sometimes neglected and pose a wide array of safety hazards… Read More

MEMBERSHIPS AND AWARDS

Trial Lawyers University
Car Accident Lawyer

THE LAW OFFICE OF RICHARD M. KENNY

Whether you need a car accident lawyer, slip and fall lawyer or legal representation for any type of accident, the NYC personal injury lawyers at The Law Office of Richard M. Kenny can help. Located in New York City, we've helped thousands of individuals throughout the Bronx, Brooklyn (Kings County), Manhattan, Queens and Nassau County recover the compensation they need to receive proper medical care, treatment and quality of life after serious injury.

FREE CASE EVALUATION

If you've been injured due to the negligence or wrong-doing of another, we can provide you and your loved ones with the legal support needed to ensure proper medical attention, long-term treatment and fair, reasonable financial compensation is received for your personal injury. The initial consultation is always free. For immediate assistance, call (212) 421-0300.

"*" indicates required fields

TRANSIT INFORMATION:

34 St. - Herald Sq (0.13 mi)
St. - Penn Station (0.17 mi)
34 St. - Penn Station (0.35 mi)