Transcript
How Much Is Your Car Accident Case Worth?
If you’re watching this video, it’s likely that you—or someone you care about—has been injured in a car accident in New York. One of the biggest questions you’re probably asking is:
“If I pursue a claim, how do I know what it’s worth?”
While it’s tempting to say, “If you’re badly hurt, it’s a big case,” the truth is far more complex. Let me walk you through the same process I use with my clients to determine the value of a personal injury case.
Understanding Liability and Serious Injuries
Imagine you’re sitting at a red light or stop sign, minding your own business, when suddenly someone crashes into the back of your car. You’re seriously injured—maybe you suffered fractures or even required surgery. In that case, three things are clear:
- It wasn’t your fault.
- The other driver is 100% responsible.
- You’ve been badly hurt.
So what happens next?
Why Insurance Coverage Is the Starting Point
The first thing we need to look at is the insurance coverage available on the at-fault vehicle. You might think your injury is what matters most—and you’d be right—but collectability is crucial. A jury could award you a large amount, but if there’s no coverage or assets, collecting that money becomes a major hurdle.
Case Example: Hit by a Taxi in Westchester
Let’s say the accident happened in Westchester County, just north of New York City, and the at-fault vehicle is a taxi. In this region, taxis are only required to carry $25,000 per person and $50,000 per accident in liability insurance. So even if you were severely injured, that might be all that’s available for compensation.
Can you sue the driver or the taxi company for more? Unfortunately, many taxi drivers have few personal assets, and companies are often structured to avoid deep liability. In short, collecting beyond the policy limits is often unrealistic.
Your Own Insurance Matters Too
Now we look at your insurance. In New York, your policy must include:
- $50,000 Personal Injury Protection (PIP) – Covers medical bills, lost wages, and other expenses.
- $25,000 Uninsured/Underinsured Motorist Coverage (UM/UIM) – Kicks in when the at-fault party lacks adequate insurance.
When Your Coverage Fills the Gap
If you were hit by an uninsured driver or a stolen vehicle, your UM/UIM coverage becomes critical. But if you bought a cut-rate policy with minimum coverage, you might not be able to recover more than $25,000—even if your injuries are life-altering.
That’s why it’s so important to review your own policy and consider increasing your UM/UIM limits. A good agent can help you get covered up to $250,000, $500,000, or even $1 million, protecting you if you’re hit by an underinsured driver.
What If You’re Hit by a Commercial Vehicle?
If you’re hit by a commercial vehicle like a garbage truck, FedEx, or UPS truck, you’re in a much better position. These vehicles usually carry higher coverage limits, which means:
- There’s more money available for your injuries.
- We can pursue the true fair value of your case without being constrained by low policy limits.
Action Steps to Protect Yourself
- Review Your Insurance Policy
Call your insurance agent and ask:
“What happens if I’m hit by a driver with no or minimum coverage?”
You may be able to add more UM/UIM coverage for peace of mind. - Be Cautious When Borrowing Vehicles or Accepting Rides
Know whose car you’re driving or riding in. Their policy becomes the first line of protection in an accident, so make sure they’re adequately insured. - Call a Personal Injury Lawyer Early
If you’ve been injured, speak to an experienced attorney as soon as possible. At Greenspan & Greenspan, we offer free consultations, and everything you tell us is confidential and protected by attorney-client privilege.
Final Thoughts: Determining Case Value
In the end, determining how much your case is worth involves:
- Understanding who’s at fault
- Evaluating available insurance coverage
- Calculating the extent of your damages and injuries
It’s not just about how badly you’re hurt—it’s also about who can pay. If you need help navigating this, contact us. We’ll explain your legal rights and fight to maximize your compensation.
Experiencing a car accident can be a traumatic and life-altering event. In the aftermath, you’re likely dealing with physical pain, emotional distress, and financial burdens. One of the pressing questions on your mind is, How much is my car accident settlement worth? Understanding the value of your case can help you plan for the future and ensure you receive the compensation you deserve.
At Greenspan & Greenspan, we are here to guide you through this challenging time with compassion and expertise.
Filing an Insurance Claim in New York
In New York, the first step after a car accident is typically filing an insurance claim. New York is a no-fault state, which means that the insurance company for the car that you were traveling in will cover your medical expenses and lost wages up to a certain limit, regardless of who was at fault for the accident. This coverage is known as personal injury protection (PIP). If you were a pedestrian hit by a car or truck, the vehicle’s insurance company will be responsible for paying your no fault benefits.
However, if your injuries are severe or your damages exceed the limits of your PIP coverage, you may need to pursue a claim against the negligent party. This is where understanding the value of your car accident case becomes crucial.
How Much Is My Car Accident Settlement Worth?
The value of the average car accident settlement in New York depends on various factors. While providing an exact figure is challenging, understanding these factors can give you a clearer idea of what to expect. Here are the key elements that influence the amount of compensation you may be entitled to.
Medical Expenses
Your medical expenses are a significant component of your settlement. These expenses include the cost of emergency room visits, hospital stays, surgeries, medications, physical therapy, and any ongoing medical treatments. It is important for you to keep all medical records and receipts, as they will be crucial in determining your settlement amount.
Lost Wages
If your injuries prevent you from working, you may be entitled to compensation for lost wages. This includes not only the income you’ve already lost but any future earnings you may be unable to earn due to your injuries. Calculating lost wages can be complex, especially if you are self-employed or have variable income, but our experienced attorneys can help you determine a fair amount over and above what you will receive from no fault for payment of lost wages.
Pain and Suffering
Pain and suffering refer to the physical pain and emotional distress you’ve endured as a result of the accident. These damages are more challenging to quantify than medical expenses or lost wages, but they are vital to your compensation. Factors such as the severity of your injuries, the impact on your daily life, and the duration of your recovery will influence this portion of your settlement.
Property Damage
You can also seek compensation for the damage to your vehicle and any other personal property affected by the accident. Compensation can include the cost of repairs or the fair market value of your vehicle if it was totaled.
Other Factors
Because each accident is unique, there is no way to truly determine the average settlement for a car accident. Additional factors affecting your settlement include the amount of available insurance, the strength of your evidence against the negligent party, and whether you were partially at fault for the accident.
When to Hold the Negligent Party Responsible
If your damages exceed your PIP coverage or your injuries meet the serious injury threshold set by New York law, you can hold the negligent party responsible. Serious injuries include significant disfigurement, bone fractures, permanent limitation of use of a body organ or member, and significant limitation of a bodily function or system. There are a total of nine categories of what New York Law has defined to be serious injuries
You can file a personal injury lawsuit against the at-fault driver to seek additional compensation in these cases. This process can be complex and requires a thorough understanding of New York’s personal injury laws. Our team at Greenspan & Greenspan is ready to assist you in navigating this legal journey.
When Filing a Lawsuit Is the Best Option
While many car accident cases are settled without having to go to court, there are situations where filing a lawsuit is the best option. These include:
- Severe injuries—if you have sustained serious injuries that will require long-term medical care or result in permanent disability;
- Uncooperative insurance companies—when insurance companies refuse to offer a fair settlement or deny your claim without a valid reason; and
- Disputed liability—if there is a dispute over who was at fault for the accident, legal action might be necessary to establish liability and secure fair compensation.
Your attorney can help you determine the strength of your claim and if your case would have more favorable results if you pursue litigation.
Understanding Average Car Accident Settlements
Many people wonder about the average car accident payout. While averages can provide a general idea, it’s important to remember that every case is unique. Factors such as the severity of injuries, total medical costs, lost income, the amount of available insurance coverage and individual circumstances all contribute to the final settlement amount. Consulting with an experienced attorney can give you a more accurate estimate based on your specific situation.
Encouragement to Seek Legal Assistance
Navigating the aftermath of a car accident can be overwhelming, but you don’t have to do it alone. At Greenspan & Greenspan Injury Lawyers, we are committed to helping you answer the question, How much is my car accident settlement worth? Our team of dedicated attorneys and staff will work hard to see to it that you receive the compensation you deserve. Our compassionate and experienced attorneys will work tirelessly to protect your rights and guide you through the legal process.
If you have been involved in a car accident, don’t hesitate to contact Greenspan & Greenspan. Contact us today for a free consultation, and let us help you on the road to recovery. Your well-being is our top priority, and we are here to support you every step of the way.
