While many are lucky enough to make it out of a car accident with only minor scratches, others are left to suffer serious and often life-changing injuries. In the wake of tragedy, obtaining compensation often becomes a lifeline.
New York law allows those who were injured because of the negligence of another to seek recompense for losses such as medical expenses, lost wages, pain and suffering, and more. But every case is different, and calculating a fair settlement isn't always straightforward.
For accurate estimates, it's best for victims to talk to a reliable car accident lawyer on Long Island. They can also determine how personal injury settlements are calculated in NY. In the meantime, this article will offer insight into how settlements are calculated.
Why Seeking Compensation After a Car Accident Is a Good Idea
The reality is that many people walk away from car accidents without holding the at-fault party liable for their damages. This can be detrimental for a number of reasons.
Injured Victims Can Get the Medical Care They Need
Firstly, car accident claims help injured parties obtain the medical care they need. Severe injuries may require extensive treatment, including surgery and rehabilitation. According to an article from CBS News, the average cost of an ER visit in New York is $1,668, and hospital stays can cost thousands of dollars.
To add fuel to the fire, those who suffer serious injuries cannot work until they have recovered. This often creates financial turmoil within the person's household. Seeking compensation then becomes critical to a person's physical recovery.
When victims have their medical bills paid, they can confidently obtain the treatment they need.
The Other Party Is Held Responsible
All motorists have a duty to ensure that their conduct does not endanger others on the road. When a driver's recklessness causes harm to someone else, it's important that they are held responsible for their actions. This can prevent the same kind of incident from recurring and protect others from facing a similar fate.
It Offers the Kind of Compensation That Insurance Coverage Simply Does Not
Pain and suffering, emotional distress, and mental anguish are realities after a serious injury. The trauma of a near-death experience can have lasting consequences for victims.
While insurance claims will typically cover a portion of the medical expenses and lost wages, they do not include non-economic damages. There are also limitations on the amount that victims are paid.
The good news is that filing a personal injury lawsuit can provide victims access to compensation for these losses.
How Car Accident Settlements Are Calculated in NY
Simply put, car accident settlements are determined by adding economic and non-economic damages. Moreover, in some cases, punitive damages may apply, which are also added to the total awarded to the victim.
Economic Damages
These are generally the easiest to calculate. They include costs that can be quantified quite easily. Bills and receipts are typically used to back up these damages.
Here is an overview of some of the most common types of economic losses:
Medical Expenses
All personal injury cases include medical expenses, which encompass the cost to treat conditions directly related to the incident. Hospital stays, the cost of surgery, and ongoing medical treatment (future medical expenses) are all included.
Lost Wages
If a victim's injuries prevent them from working, they can add lost income to their claim. This can usually be proved by obtaining paperwork from the person's employer and presenting proof of income using bank statements.
Property Damage
Car accidents often result in damage to vehicles and other items in the car. The cost of repairs or replacement of any destroyed property can be added to the claim.
Non-economic Damages
The truth is that monetary losses are not the only effects of a car crash. Those who suffer more severe injuries are often left to deal with emotional distress and intense pain as they recover. Fortunately, New York law also allows victims to seek compensation for these damages.
Pain and suffering is a term that describes a wide range of non-economic losses. It generally includes the following:
Physical pain
Permanent disabilities
Disfigurement
Loss of enjoyment of life
Emotional distress
The reality is that it is not easy to calculate, and a variety of factors must be considered in order to determine what a suitable amount is.
This includes the nature of the injury, the effect it has had on the person's day-to-day life, the recovery time, and more.
Punitive Damages
When a crime occurs, causing an innocent victim to suffer, the court may award punitive damages. By imposing financial consequences, the judicial system aims to punish the person for their conduct.
Calculating Pain and Suffering Damages in Car Accident Cases
As mentioned previously, calculating pain and suffering damages is not easy. There are two primary methods used to do this:
The Multiplier Method
With this method, an insurance company will take the economic damages and multiply them by a certain number (usually between two and five). The multiplier used is typically determined by the victim's injuries and the impact they have had on their life.
For less serious injuries, a smaller number is used, while a larger multiplier is assigned to those who have suffered significantly because of a car crash.
The Per Diem Method
To determine the pain and suffering damages in a personal injury case using this method, each day is assigned a value. This daily rate will then be multiplied by the total number of days that the victim suffered.
Key Factors That Affect the Value of a Personal Injury Claim
There are a number of factors that influence personal injury settlements. For more information, our law office may be able to help.
The Nature and Severity of the Injury
Personal injury claims are centered around medical expenses. Therefore, to the surprise of no one, the severity and type of injury will have a major impact on the settlement amount awarded.
More severe consequences, such as traumatic brain injuries that require major medical procedures and ongoing care, will likely pay a higher amount than a claim for a broken bone.
It's important to note that future healthcare costs are also taken into account. If the victim requires ongoing physical therapy, these expenses will also be included in the claim.
Comparative Negligence
New York follows a comparative negligence law. It allows victims to file a claim for damages even if they are partly to blame for the accident. However, in such cases, the amount that a person receives is reduced by the percentage fault that they are assigned.
Suppose John was injured in a car crash because he was traveling over the speed limit. However, he collided with someone who ignored a stop sign and was operating a motor vehicle under the influence of alcohol.
He is then awarded 30% of the blame. If he successfully settles for $10,000 of compensation, he will only receive $7,000.
Therefore, the victim's fault also influences the amount they ultimately receive.
Recovery Time
If the injured person requires a long time to recover from their injuries, they will likely lose more time at work, limiting the amount of income they receive. This will increase the lost wages damages, increasing the value of the claim.
Furthermore, permanent disabilities could affect the individual's ability to continue in their line of work, in which case additional compensation may apply.
Insurance Limitations
Insurance policy limits may also influence the amount a person receives. If their damages exceed these restrictions, victims will have to file a personal injury claim to obtain the amount they rightly deserve for their injuries.
Determining the Value of a Claim
The truth is that calculating personal injury settlements is challenging. The good news is that a New York car accident attorney can help. They have years of experience with such claims and will ensure that the victim is able to get the maximum compensation for their injuries.
A lawyer knows which method to use when determining pain and suffering damages and will add future medical expenses and lost wages to the claimant's economic losses.
The Law Office of Carl Maltese Has Recovered Millions of Dollars in Compensation
Car accident claims are often complex, demanding rigorous legal representation. As one of Long Island's most trusted law firms, we are confident in our ability to accurately assess claims and offer sound legal guidance.
Accident victims can contact us to talk more about their case at a free consultation. We are also able to discuss how truck accident settlements are calculated in NY.
Frequently Asked Questions
1. Is it okay for an injured party to file a personal injury claim if they were partly to blame for the accident?
Yes. New York's comparative negligence laws allow claimants to obtain compensation even if they contributed to the crash. However, the settlement amount they receive will be reduced by their percentage fault.
2. Are personal injury attorneys really necessary for car accident cases?
Absolutely. An experienced lawyer has a comprehensive understanding of the law and can help victims navigate the complex landscape.
They also know how to calculate car accident settlement amounts and offer reliable advice on how to ensure a favorable outcome. Attorneys are also skilled negotiators and aren't afraid to do whatever it takes to win the case.