After experiencing a car accident, it’s important to ask questions, especially involving insurance and injury compensation. One of those questions may include, “How much is my car accident claim worth?”. Well, it’s important to note that you may not be able to estimate the worth of your claim because each accident is different, and circumstances differ. Knowing the average amount for a car accident settlement would not be useful because each settlement is calculated based on the person’s specific scenario experienced. However, there are many factors to know that may influence the worth of your accident settlement. If you’re seeking a personal injury lawyer Deer Park NY, Mandler & Sieger is here to help. Knowing your options is important, so visit our website to learn more today!
How is a Car Accident Settlement Calculated?
All accident settlements are relative and knowing the worth of each scenario is extremely important. But how exactly is a settlement calculated? Well, settlements are decided based on what is lost in the accident. For example, an accident that involves only some minor property damage would be worth far less than an accident involving hospitalization or the loss of a loved one or passenger. Victims of serious accidents are entitled to claim far more because of the severity of the accident and the greater losses they’ve experienced. A few concepts determine the amount you’re entitled to when experiencing an accident. If you’d like to know how much your settlement is worth, visit your personal injury lawyer Deer Park NY at Mandler & Sieger. However, here is a list of entities that determine the value of a settlement:
- Lost wages
- Pain or Suffering
- Emotional damage and distress
- Property damage
- Medical bills
Factors That Impact the Worth of a Car Accident Settlement
Many factors go into determining just how much a settlement is worth. However, knowing these factors and which ones may be relative to you is necessary. When experiencing an accident, you may have gone through a life-changing experience, and knowing what you’re entitled to is essential. Here at Mandler & Sieger, We have you covered with the best personal injury lawyer Deer Park NY. We promise to ensure you get the compensation you rightfully deserve for the tragic experience you’ve gone through. Nevertheless, here are some factors that determine how much your car accident settlement is worth:
- Insurance Coverage – Most states, including New York, require all drivers to have liability insurance. Therefore, when an accident occurs, the victim will pursue a claim through the at-fault driver’s insurance. However, if damages exceed the at-fault driver’s insurance policy limit, compensation may not be adequate for the accident settlement. Therefore, it may be worth pursuing a claim against the driver to receive rightful compensation for the accident.
- Liability – In New York, liability is determined, so there is a percentage of each driver at fault. Therefore, a driver at 60% fault would be entitled to pursue a claim worth 40% of their total losses.
- Injury Severity – The severity of injuries sustained plays a large role in determining the worth of your settlement. For example, a survey conducted by Martindale-Nolo determined that the average settlement for no injury was $16,700 whereas injured victims received $29,700 on average. That’s a $13,000 difference on average! Depending on the severity of an injury you are entitled to much more compensation. If you’ve experienced an injury contact Mandler & Seiger for a personal injury lawyer Deer Park NY.
- Wage and Financial Loss – These losses can include anything from property damage to wage loss. Therefore, time away from work due to the incident can be compensated for. As well as any damage to your vehicle or personal property through the incident. Knowing the worth of your incident is necessary and we promise you will receive the full extent of your claim through Mandler & Sieger your personal injury lawyer Deer Park NY.
Contact Mandler & Sieger For a Personal Injury Lawyer Deer Park NY
An accident can be life-changing and it’s important to receive the compensation you’re entitled to. Don’t walk away and allow other drivers to take advantage of a situation that impacts you. Seek your personal injury lawyer Deer Park NY, with Mandler & Seiger! Here at Mandler & Sieger, we promise you will receive the compensation you deserve. Contact us or visit our website today to ensure you secure the settlement you deserve!