In New York, the average value of a personal injury claim is around $287,000. Yet it’s impossible to determine how much your claim might be worth until we can look at the facts of your specific case.
However, we can look at some general factors that can factor into how much money you may receive as we seek to negotiate your settlement.
#1) Your Degree of Fault
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New York is a comparative negligence state. This means that in any given accident, each party is assigned some percentage of fault. The fault might be 97% the other party’s and only 3% yours, 50% and 50%, or any other combination of percentages.
You can recover funds even if you are 99% at fault, but there are diminishing returns. The same percentage amount will reduce any award you receive. So if your settlement or award is $287,000, but you’re found to be 30% at fault, you’ll only receive $200,900. It’s still a respectable sum, but it is a lower one. This is why our law office works hard to ensure that your percentage of fault is set as low as possible.
#2) The Severity of Your Injuries
One of the biggest myths in the field of personal injury law is that people launch personal injury suits to get rich.
In reality, those really big settlements happen when the injuries are life-altering. They pay for long-term care and money to live on, not mansions and cruises.
Your injuries’ severity and impact on your life will play into your pain and suffering award, typically set as a multiplier between one and five. The multiplier is applied to your medical damages.
If your multiplier is set at 3 and your medical damages are $500,000, your pain and suffering award would be $1,500,000, and your total award would be $2,000,000. But the higher the multiplier, the worse you’re usually injured.
To increase this award, be sure to document the extent to which your injuries impact your daily life.
#3) Your attorney’s negotiation skills.
Skill and experience matter, especially when it comes to staring down the other party and convincing them to offer a fair settlement.
92% of cases settle out of court. You need a bold, knowledgeable attorney who will negotiate effectively on your behalf.
If the case actually goes to court, things get even harder. Juries in New York are often skeptical of personal injury claims. So you’ll need a prepared litigator who can really paint a picture for them.
Get Help Today
We’ve resolved thousands of personal injury cases and can help you resolve yours. If you’ve been injured in an accident, maximize your chances of a high settlement by contacting us to schedule your free consultation today.
See also:
7 Red Flags to Watch Out For When Selecting a Personal Injury Lawyer
4 Questions to Ask During a Personal Injury Consultation
5 Issues That Can Cause a Judge to Dismiss Your New York Personal Injury Case
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