Car accidents in New York don’t just shake up your day—they hit your wallet, health, and ability to work. Whether it was a fender bender or a multi-car crash, one question is common: how much is my car accident worth?

The insurance company may throw out a quick number, but that doesn’t mean it’s fair. The real value of your case depends on medical bills, time off work, how the crash affected your daily life, and what kind of legal pushback you might face from the other side.

At Greenspan & Greenspan Injury Lawyers, P.C., we work with New Yorkers who need real answers—not guesswork or lowball offers. Here’s what goes into a car accident settlement and why the first offer is rarely the best one.

How Is a Car Accident Settlement Calculated?

Insurance companies don’t have a set formula for calculating a settlement for car accident injuries—but they all look at the same factors when making an offer:

  • Medical expenses. This category includes ER visits, surgeries, physical therapy, and medication. Your car accident settlement should also cover any anticipated future medical costs linked to your injuries.
  • Lost pay. If you missed work—or won’t be able to return to your previous job—any lost wages, vacation time, or other compensation, including diminished earning capacity, should be included in your proposed settlement.
  • Pain and emotional impact. Chronic pain, post-traumatic stress disorder (PTSD), sleep problems, and loss of enjoyment of daily life all influence the compensation you may receive.
  • Property damage. Whether your car needs repairs or is totaled, the costs of replacement or fixing the damage are calculated as part of your proposed settlement.
  • Who caused the crash. Under New York’s comparative fault system, insurance companies may try to reduce your car accident payout by claiming you share responsibility.

Every claim is different, and insurance companies are not in the business of offering full payouts upfront. That’s why it’s critical to understand the real numbers behind your case before accepting anything.

How Does Comparative Fault Impact a Car Accident Payout?

Under New York law, a court will reduce the value of your claim based on how much fault you share for the crash. Knowing this, insurance companies will try to assign as much blame as possible to you in an attempt to reduce what they owe.

For example, you’re driving through an intersection in White Plains when a driver runs a red light and slams into your car. The insurance company argues that you were going too fast, and a court finds you 15% responsible. If your damages add up to $200,000, your final payout would drop to $170,000. Even if you reach a settlement, the insurance company will consider your potential fault in determining how much to offer you.

 An attorney can help you gather evidence to strengthen your claim and counter the insurance company’s arguments that you shared fault for the accident.

How Long Do You Have to File a Car Accident Claim in New York?

Time limits for filing a car accident claim in New York are strict.

Under New York law, you generally have three years from the crash date to file a lawsuit. But if your accident involved a government-owned vehicle, such as a Metropolitan Transportation Authority (MTA) bus, sanitation truck, or police car, you must file a notice of claim within 90 days and start legal action within one year and 90 days.

Letting the deadline pass means giving up your right to compensation—no matter how strong your case is. The sooner you start, the better your chances of gathering the evidence needed to prove what happened and push back against insurance tactics.

How Much to Expect from a Car Accident Settlement

There’s no single number that applies to every case, but here’s a look at what factors go into determining a fair car accident settlement: 

  • Extent of injuries. A sprained wrist won’t carry the same weight as a traumatic brain injury. The more severe and long-lasting the injury, the greater the potential compensation.
  • Damages. Medical bills, lost wages, and pain and suffering all play a role. Unlike some states, New York does not cap damages, meaning there’s no legal limit on what you can recover for pain and suffering.
  • Insurance coverage. The amount available depends on the at-fault party’s policy limits. In some cases, additional claims may be possible against an employer, a manufacturer, or your own uninsured/underinsured motorist coverage.

The value of a case comes down to the details—medical records, lost income, ongoing treatment, how the injuries affect your ability to work and live normally, as well as any comparative fault assigned in the case.

What If the Insurance Company Won’t Offer a Fair Car Accident Settlement?

Insurance companies don’t always play fair. Their goal is to settle the claim for as little as possible. When they refuse to offer a reasonable amount, working with a lawyer with experience in car accident cases can make all the difference in what you walk away with.

Some of the biggest insurance roadblocks include:

  • Unfair settlement offers. Insurance companies use low settlement offers to cut costs before victims fully understand the impact of their injuries.
  • Arguing that you were at fault. They may twist the details to shift blame under New York’s comparative fault rule.
  • Downplaying the severity of injuries. They may argue that medical records don’t support the compensation sought or that a pre-existing condition contributed to the injury.
  • Delaying payouts. Some insurers drag out negotiations, hoping victims get frustrated and settle for less.

Remember, if you agree to a settlement and later realize your injuries need more treatment or are more extensive than you initially thought, you cannot go back and ask for more money. A New York car accident payout should reflect every identifiable and anticipated cost the crash caused—now and in the future. 

Having a New York car accident attorney who knows how insurance companies operate can make all the difference when negotiations start. A strong claim backed by police reports, medical records, expert testimony, and witness statements puts pressure on the insurance company to meet its obligation.

Talk to a New York Car Accident Lawyer Who Puts Your Case First

A car accident settlement isn’t just about today’s bills—it’s about ensuring you’re not the one paying for injuries and expenses that shouldn’t be yours.

For over 30 years, Greenspan & Greenspan Injury Lawyers, P.C. has helped injured drivers and passengers across New York stand up to insurance companies, businesses, and even government agencies that try to cut corners on what they owe.

We’ve earned recognition as Super Lawyers and have recovered millions for people who didn’t take the first offer because they knew they deserved better.

If the insurance company isn’t playing fair, call us today. Let’s talk about what your car accident case is worth—and how we will work to help you get it.