What Is the Average Personal Injury Settlement in New York?

After an accident, New York personal injury laws allow you to obtain compensation from the at-fault party’s insurer. While you might wonder what the average injury settlement is in New York, there is no true “average,” since settlement amounts vary depending on the specific circumstances of the case.

Whether it is a fractured bone or spinal cord injury, many personal injuries create a substantial impact on victims’ lives. You’re likely to experience physical pain, discomfort, or emotional discomfort, necessitating a fair settlement value that caters to injury-related losses.

Consider engaging a trusted personal injury attorney to enhance your chances of obtaining a positive outcome.

Types of Damages in a Personal Injury Claim

You may be eligible for any of the following damages in a personal injury claim:

Economic Damages

Economic damages compensate for the financial losses a victim suffers related to the accident, including anticipated financial losses. Economic damages take up a significant portion of a personal injury claim.

Here are a few examples of economic damages:

• Medical bills
• Lost wages
• Out-of-pocket expenses
• Loss of earning capacity

Non-Economic Damages

Non-economic damages compensate personal injury victims for the intangible losses they suffer as a result of the injury. They are also called general damages and are not easy to quantify because they’re not tied to a specific loss.

Examples of non-economic damages include:

• Mental anguish
• Pain and suffering
• Loss of enjoyment of life
• Loss of companionship

Punitive Damages

A court or a jury can award you punitive damages, also known as exemplary damages, in addition to economic and non-economic damages. As opposed to compensatory damages, punitive damages are not meant to compensate the victim but to punish the plaintiff for serious misconduct.

Factors That Influence the Value of Personal Injury Settlement

• The Severity of the Injury: If you sustain a traumatic brain injury, you’re likely to obtain a higher settlement value compared to a victim of a broken arm. Recovering from a severe injury takes multiple doctor visits, long-term care, and rehabilitation expenses, explaining the need for a higher settlement value.
• Long-term Impact: If an injury forces you to live with the consequences of an accident for a long period, you may receive a hefty settlement amount. For instance, you may receive additional damages to cater for structural changes in your home or car as a way of coping with the injury.
• Impact on Daily Life: You may receive additional damages if you can no longer participate in daily activities. If an amputated arm prevents you from playing with your children, you can receive additional damage for loss of enjoyment of life.

Speak to an Experienced Personal Injury Attorney

Personal injury victims endure a worsened financial situation due to hefty medical bills. The injury may also keep them out of work, leading to a loss of income and an inability to sustain their previous living standards.

Consider hiring an experienced attorney from The Barnes Firm, with a track record of successfully obtaining settlement amounts.

Contact us online or call us at (800) 800-0000 for a free case evaluation.

Richard Barnes – President of The Barnes Firm

Richard Barnes: “As President of The Barnes Firm, I have dedicated my career to achieving justice in hundreds of cases for the victims of injuries caused through the fault of others. Additionally, I have been honored to have been elected Best Lawyer and a Super Lawyer”

Years of Experience: 30+ years
LinkedIn Profile: Richard Barnes