Settlement amounts for vehicle collisions within New York State jurisdiction (hereinafter “NY”) vary substantially. According to industry data compilation, NY settlements average $287K, markedly exceeding nationwide figures.
Look, here’s the deal with New York’s setup: They use a no-fault system, where your insurance covers the first $50,000 of your economic losses, and there are no questions about who caused the crash. It’s pretty straightforward.
Whereas parties sustaining serious injuries and/or damages beyond the abovementioned threshold may pursue legal remedy via civil litigation against the responsible party/parties, subject to applicable statutes and precedent.
The numbers? They’re all over the place. You might be looking at $20-25K for a fender bender with some whiplash. But god forbid you end up with a traumatic brain injury or, heaven help us, someone dies – those cases can hit seven figures easily.
Considering the complex nature of applicable laws, regulations, and procedural requirements governing such matters, parties are strongly advised to seek counsel from qualified legal professionals specializing in NY vehicular collision litigation to evaluate specific claim value and strategy.
Simply put: Every crash is different. What you get depends on how badly you’re hurt, what bills you’re facing, and about a million other things that can pop up—getting a lawyer who knows NY accident law inside and out. That’s just innovative business.
