New York Car Accident Attorney: Understanding Car Accident Settlements

New York Car Accident Attorney: Understanding Car Accident Settlements

A car accident settlement can be a quick way to secure compensation, but is it always the best decision? Many auto accident victims feel pressured to accept the first offer from insurance companies and later realize that they settled for far less than they deserved.

Understanding how car accident settlement work and when it’s the right time to agree to one directly impacts the compensation you receive. If you have been involved in a car accident, consulting a New York car accident attorney can help ensure you get a fair settlement. Here’s what you need to know before signing any agreement.

How Do Car Accident Settlements Work in New York?

New York follows a no-fault insurance system, which means your own insurance policy covers your medical expenses and lost wages, no matter who caused the accident. However, if your injuries are serious and meet the threshold for a personal injury lawsuit, you can pursue additional compensation from the at-fault driver’s insurance. Most car accident claims in New York end in a settlement rather than going to court.

Factors to Consider Before Accepting a Settlement

It’s always best to consult a car accident lawyer before making a decision on whether or not to accept a settlement. A trusted New York car accident attorney will ensure that you consider these main factors before accepting a settlement:

1. What is the extent of your injuries? If you are not sure, don’t accept the offer as you can’t ask for more money later.
2. Have you considered future expenses? Sometimes, surgeries and therapy could cost more in the future.
3. Did you lose wages? Your settlement should include compensation for lost wages.
4. Has your quality of life been reduced or are you in emotional distress? Then, your settlement offer should include compensation for pain and suffering.

Trying to decide whether this criteria has been factored in, is challenging. A committed car accident attorney can be trusted to help you figure things out since they are on your side, unlike insurance companies.

When to Accept a Settlement Offer in New York

There are situations where accepting a settlement is the best course of action. You can consider agreeing to a settlement if:

• You have completed medical treatment and are fully aware of all current and future medical costs.
• The settlement offer completely covers your damages including medical expenses, lost wages, and pain and suffering.
• Your car accident attorney in New York has reviewed the settlement and negotiated a fair amount.
• You want to avoid the risks, costs, and time involved in a car accident lawsuit.

However, if you are choosing to accept a settlement offer without any advice from a car accident lawyer, there’s a very high probability that you are losing the chance to recover damages from your car accident.

Even if you are partially at fault, the New York law allows one to get partial compensation. Therefore, before accepting a settlement offer, ensure that it is fair. At Alex Yadgarov & Associates, our New York car accident attorneys have over a decade of experience in fighting for clients so that you receive the maximum deserving compensation. Schedule a free initial consultation and let us help you.