How Much Is My Car Accident Claim Worth?

The actual worth of a car crash claim depends on many factors. A car accident lawyer can help you get a ballpark estimate of the damages available for your claim.

New York is a no-fault state. So your first recourse for compensation will be your own insurance company. However, you may be entitled to file damages from an at-fault driver for more serious injuries. You will need legal help to make sure you get a fair settlement in either case.

Here are the types of damages you can seek in a car accident claim, and a look at how you can calculate your claim’s worth.

Economic Losses in a Car Crash Claim

Economic losses are material losses for which you can calculate a specific dollar value. In a car accident case, these include:

  • Medical Costs – You are entitled to recover the full amount of the medical costs of crash-related injuries. These include doctor’s fees, travel expenses, diagnostic costs, the costs of treatment and medication, as well as long-term costs until complete or maximum recovery.
  • Lost Wages – A severe injury is likely to prevent you from resuming work for a certain period. You can seek these lost wages in your claim under economic damages.
  • Property Damage – A car accident typically results in vehicular damage. You may need to spend a significant amount on car repairs or replacement. You can get full compensation for such property damage in your no-fault or third-party claim.
  • Rehabilitation – For some injuries, you may need ongoing and long-term rehabilitation. For instance, you may require physical therapy sessions for several months or even years to fully heal. You can recover these expenses in your claim.

Non-Economic Losses in Car Crash Claims

Non-economic losses are intangible losses you face in the wake of a crash. These typically include:

  • Physical pain and suffering
  • Loss of enjoyment of life
  • Loss of consortium
  • Emotional distress
  • Bodily disfigurement
  • Others

Calculating the Total Worth of Your Claim

Different factors impact the total payout amount in car crash claims. The most notable among these is your degree of fault and the severity of your injury. Or maybe you’re wondering if you can recover compensation if you were the only one involved in the accident.

Under the New York Civil Practices Code 1411, your amount of damages in personal injury claims is reduced by your degree of fault. For instance, if you are 40% at fault, and you are entitled to $50,000 in damages, you will get only $30,000.

The severity of your injury typically determines the period of recovery. The more severe your injury is, the longer you will take to recover. This means that you may be entitled to a larger sum for medical costs, lost wages, and other damages.

Speak to a Car Accident Lawyer Today

If you have been injured in a car crash, it is important to get legal help at the earliest point possible. Here at Greenstein & Milbauer, LLP, we have helped many crash victims recover a fair amount of compensation for their crash-related losses.

Call us today at 1-800-VICTIM2 (842-8462) or fill out our form for details.

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