The amount of money you can get from a car accident claim depends on how badly you were hurt and what you lost. If you have minor injuries, you might get less money. But if you get hurt badly, you could get a very substantial settlement or verdict. There are several factors that go into calculating how much your claim is worth.
New York City has a lot of people living there, and its streets are often full of cars, cabs, and delivery trucks. Accidents happen a lot in all five boroughs, especially in areas with a lot of traffic. Most minor accidents in this area are handled by a no-fault insurance system. That’s why it’s a good idea to hire a car accident lawyer in New York City to help you figure out what kind of compensation you can expect.
Average Compensation by Injury Severity
Every case is different, but here are some rough estimations based on past cases:
- Minor injuries (sprains, soft tissue): $5,000 to $25,000
- Moderate injuries (broken bones and concussions) cost between $25,000 and $100,000.
- Serious injuries that need surgery or long-term care cost between $100,000 and $1,000,000 or more.
- Permanent disability or loss of function: $500,000 to several million dollars
Bear in mind that these are general ranges. The actual amount you get depends on how the injury changed your life and your finances.
What Makes Up the Compensation Amount?
You will get a total settlement that includes several kinds of damages. Each one adds to the amount you get:
- Medical bills: Going to the emergency room, having surgery, getting physical therapy, and receiving more treatment in the future.
- Lost income: Money you didn’t make and money you could not make in the future if you can’t work.
- Pain and Suffering: Physical pain, emotional stress, and trauma.
- Damage to Property: The expense of fixing or replacing a car.
- Out-of-Pocket Expenses: Transportation, medications, or home care needs.
There might be punitive damages if the other driver was reckless, but this is not common.
New York’s No-Fault Rule and What It Means
New York is a no-fault state. That means that your insurance will cover up to $50,000 in basic injury costs. This pays for medical bills and 80% of missed wages, but only up to a specific amount.
If you get hurt badly, like breaking bones or permanent loss of function, you can only sue the other driver. That’s when you can claim pain and suffering or all of your lost wages, even if they exceed the no-fault limits.
Insurance Coverage Limits Matter
Unless the other driver has personal assets, you can only get back what the insurance policy covers. In New York, each driver must have at least $25,000 in bodily injury liability. Some drivers have more than others, but not all.
If your damages are more than what their insurance covers, SUM insurance (Supplementary Uninsured/Underinsured Motorist) may be able to help.
Your case’s value depends on how bad your injuries are, how much money you lost, and how strong your case is. Average settlements range from $5,000 to well over $1,000,000. Always go to a lawyer who has handled claims like yours before to get an accurate estimate.
