If you have suffered injuries as a result of an accident, you may be wondering about the value of your personal injury claim. Especially if your injuries are serious, it’s important that you get the best settlement possible to help you make a full recovery. However, it can be challenging to determine the value of a personal injury claim on your own, which is why you should consult with a personal injury attorney in New York.
What Factors Determine the Value of a Personal Injury Claim?
Unfortunately, there is no guaranteed answer that can help you understand the settlement value for your injury claim. This is because every claim is unique, and there are many different factors that affect injury settlements.
Here are the main factors that will impact the total value of your personal injury claim:
- The severity of your injuries
- Your medical expenses
- Lost wages and reduced earning capacity
- Property damage
- Pain and suffering
- Long-term treatment
Economic vs. Non-Economic Damages
In New York, there are also different types of damages you could receive, impacting the value of your claim.
- Economic damages: These are damages that are verifiable and have a monetary value, including things like lost wages, medical expenses, property damage, lost earning capacity, and lost business opportunities.
- Non-economic damages: These are damages that are subjective and don’t have a monetary value. They include things like pain and suffering, loss of consortium, disfigurement, loss of capacity to enjoy life, and loss of bodily functions.
- Punitive damages: These are non-compensatory damages that are sometimes awarded purely to punish or deter the defendant. Punitive damages are mostly only awarded for cases involving willful or blatant negligence.
How Liability Impacts Compensation
Other factors that impact the value of your personal injury claim include liability. For example, if the other party is clearly at fault for the accident, you are more likely to receive a higher settlement amount. However, this could potentially go down if they only hold a percentage of fault or if the fault is disputed.
Also, keep in mind that New York is a no-fault state, which could also have an impact on the value of your claim.
A personal injury attorney in New York can help you better understand what you can expect from your claim and how you can prove fault, if applicable. They can also help negotiate with insurance carriers so that you are not pushed into accepting a low offer.
Get In Touch With a Personal Injury Lawyer Today
For any type of accident where you are the victim and walk away with injuries, you have the right to seek compensation. However, not all claims are created equally, and there are many things that can impact the value of your personal injury lawsuit.
Not only can a personal injury attorney in New York help you create a strong claim, but they can also negotiate on your behalf so that you get the best injury claim compensation amount possible.
If you are ready to pursue personal injury compensation in New York, contact us today at Gash & Associates, P.C., in New York at 914-328-8800.
