How to Calculate Your Car Accident Compensation Amount

It is not possible to calculate your car accident compensation amount prior to settling your case. There are many factors that go into determining the compensation for your injuries, which eliminates the possibility of predicting the outcome of your case.

That said, a careful review of the facts of your case could allow one of our car accident lawyers to advise you on what you might expect. No attorney can promise a favorable result in your personal injury case, but our team is prepared to work tirelessly to help you get the compensation you need.

There Are Limits on Compensation Available Through “No-Fault” Insurance

New York is one of a handful of states that operates under a “no-fault” insurance system. In most jurisdictions, a person that is injured in a car accident has the right to file a lawsuit when the collision results from negligence. That is not the case in a no-fault system.

In New York, drivers are expected to carry no-fault insurance. This insurance covers some of the expenses of a motor vehicle accident no matter who was at fault.

The intention is to ensure that drivers get immediate access to medical care without the need to go through litigation first.

Limitations of a No-Fault Insurance Claim

While this approach is noble, there are significant limitations when it comes to what you might recover through a no-fault insurance claim. For starters, these insurance policies have limits. Most drivers carry no-fault insurance that is capped at $50,000 in coverage. If your medical bills are more than that, the insurance company is not obligated to pay for them.

Another important consideration is that the benefits available under these policies may be limited compared to a personal injury lawsuit.

A Personal Injury Lawsuit Could Provide Additional Compensation

You may be compensated for more through a lawsuit than a settlement. Our team will not hesitate to file a lawsuit when we feel it is appropriate to do so. We want you to be covered for every expense.

In many situations, it is possible to avoid the no-fault insurance process and pursue a civil lawsuit against the other driver. If you can establish that you suffered serious injuries in the crash, the law allows you to move forward with a civil suit. Some examples of serious injuries include:

• Broken bones
• Death
• Loss of a fetus
• Dismemberment
• Disfigurement
• Permanent loss of a body organ, function, or system
• Significant loss of use of a body organ, function, or system
• Any non-permanent impairment that limits your usual daily activities for at least 90 but fewer than 180 days.

Alternatively, you could avoid the no-fault insurance system if you can show that you suffered economic damages in excess of $50,000. Typically, this involves a combination of medical expenses and lost wages.

There are Many Factors That Could Impact the Amount of Compensation You Receive

There are other factors that could impact your case outside of whether you pursue a civil lawsuit or file a claim with your insurance company. A personal injury attorney serving from our firm could advise you on how each of these factors impacts your case.

The Other Party’s Insurance Coverage

If you are pursuing a legal claim against the other driver, their insurance coverage will also impact your potential recovery. While insurance companies have ample assets to pay claims, uninsured drivers often do not.

The Severity of Your Injuries

The more severe your injuries, the greater your chance for compensation typically is. This is because of the increasing prospect of large medical expenses following a severe injury as well as the long-term costs that can follow an accident.

Long Delays in Filing a Lawsuit

Waiting too long to file an insurance claim or personal injury lawsuit could dramatically reduce your potential compensation. In fact, it could prevent you from securing a monetary award at all.

If you were hurt in an accident, you generally have three years to file a lawsuit against the negligent party. If you fail to do so on time, a judge is empowered to dismiss your case with prejudice, because of something known as the statute of limitations. In New York, the statute of limitations is governed by CVP § 214.

Connect with Us Today to Discuss Your Car Accident Injury Case

While there is no easy way to calculate your car accident compensation amount on your own, our firm could help you understand what you might expect to recover. We are prepared to carefully evaluate your case and guide you through the litigation process.

If you are ready to get started with your personal injury case, call (516) 358-6900 for a free consultation with a team member from the Law Office of Cohen & Jaffe, LLP today. We’d like to represent you and get your feet back on the ground after a preventable car accident.

For a free legal consultation, call 516-358-6900