How to Calculate Your Car Accident Compensation in New York—Without an Online Calculator
A car accident lawyer can investigate your claim and determine the full value
If you or a loved one has been injured in a car accident in New York City, one of the first questions you might have is, "how much is my injury claim worth?"
This is an important question for many reasons. In particular, if you don’t get the money you need to cover the costs associated with your accident, you could end up having to pay for some or all of your accident-related expenses out of pocket.
That's why it’s important to understand how the car accident compensation process works in New York. There are many online calculators that you can use to try to determine your claim's value, but there are so many variables that online calculators simply can't take into consideration in the same way that an experienced car accident attorney can.
That’s why we want to help you understand how to calculate your car accident compensation.
Who pays for car accidents in New York?
New York has a “no-fault” car insurance system. That means you can file an insurance claim with your own insurance company after an accident, regardless of who's at fault.
But that's just the start of the process. In many cases, you can seek financial compensation from the at-fault driver’s insurance company by stepping outside of the no-fault system in the event your injury meets certain criteria.
Each case is different and often requires a unique approach. That’s why it’s so important to talk to a car accident lawyer when you've been injured in a crash.
What if I was partially at fault?
If you're partially responsible for your accident, you could receive less money based on what percentage of fault you share for the crash. Under New York law, how much money you're able to recover after a car accident will be reduced proportionately by whatever percentage of fault your share for the accident.
For example, if your injury claim was originally worth $100,000 but you are found to be 20 percent at fault, you would be eligible to recover $80,000.
How is compensation determined for my accident?
This is a question a lot of people have after a serious car accident, especially after they receive a lowball settlement offer from an insurance adjuster.
Many times, insurance companies focus on just the short-term expenses associated with a car accident. They don’t think long-term, even if they know that you might end up having more medical bills and other expenses related to your injury.
What can I be compensated for?
Whether it's a settlement or a favorable court verdict, your compensation should cover the cost of all your losses, such as:
- All medical care related to your accident, including past, present and anticipated future medical care. This can include surgery, hospital fees, doctor appointments, physical therapy, and prescription medications.
- Repairing or replacing your car, especially if it’s a total loss.
- Replacement income if your doctor instructs you to stay home from work to rest and recover from your injuries.
- Lost future income.
You may also be eligible to receive “non-economic damages,” a legal term for financial compensation not tied to a direct economic loss. Non-economic damages can be more subjective and can include:
- Pain and suffering.
- Loss of companionship.
- Diminished quality of life.
How do I calculate car accident compensation?
Often, the best way to start the process is to add up your medical bills and vehicle repair bills.
Next, you’ll need to gather your recent pay stubs. How much money per week did you earn before your accident? Are you still making that much money? Have you lost out on pay you could have earned if you didn’t get hurt in a car accident?
What bills and expenses do you expect to have in the future due to your car accident? If you’ve never been in a serious car accident before, estimating how long you will not be able to work and how much money your medical care will add up to in the future can be very challenging.
Why should I hire a lawyer?
The sooner you talk to an attorney about your legal rights and options, the better. Insurance companies know there can be a lot of money at stake after a car accident, which is why they will do everything they can to devalue or deny your claim.
At Giampa Law, our Bronx car accident attorneys know how to deal with insurance companies. We understand how the legal system works in New York. And we’re prepared to work hard for the outcome your case deserves. Contact us today for a free consultation.