In a personal injury case, a settlement is an agreement between the parties to settle a lawsuit outside of court. Many cases are resolved in this way to avoid going to trial, where outcomes can be unpredictable. Further, choosing a settlement can benefit both parties by providing a faster resolution and, in turn, reduced legal fees.Â
Along with a settlement agreement, there is usually a guaranteed amount of compensation. In this article, we will explore New York City lawsuit settlements to shed some light on the factors that influence these amounts and how they are determined.
Factors Influencing Settlement Amounts
Many individuals considering a personal injury lawsuit want to know the settlement amount for their case. Unfortunately, estimating the exact settlement amount at the beginning of a case, when there are many unknowns, is impossible.
However, learning the factors influencing settlement amounts in personal injury cases can illuminate the process. Several factors will affect the compensation a plaintiff receives when settling out of court. Below, we’ve listed the factors that typically influence New York City lawsuit settlements for further consideration.
These factors reflect both tangible and intangible losses. It’s important to note that individuals must work closely with expert legal professionals who can evaluate your case and leverage these factors to negotiate the best possible settlement amount.
| Average New York City Lawsuit Settlements: Influencing Factors | |
| Injury Severity | The more severe the injury, the higher the potential settlement amount due to increased medical costs and the need for long-term medical care |
| Medical Expenses | Past and future medical treatments related to the injury will influence settlement amounts. |
| Lost Wages and Future Earnings | When determining a settlement amount, money lost from time off work and future earnings due to permanent incapacity will be considered. |
| Pain and Suffering | This is a non-economic factor calculated based on the intensity and duration of the victim’s pain. |
| Liability | In any case, the extent of the defendant’s fault will influence the settlement amount. Because New York uses the comparative negligence rule, a settlement amount may be reduced if the plaintiff is found to share some of the blame. |
Average Settlement Ranges for Personal Injury Cases
Average settlement ranges for personal injury cases vary based on the case type, and specific circumstances surrounding the accident. Every settlement will reflect the case’s specifics, including injuries sustained and the degree of negligence involved.
However, we’ve listed examples of actual settlements by case type won by the Law Offices of Eric Richman below. These settlements can provide a general overview of the outcome of a personal injury lawsuit in New York City.
| Case Type | Settlement Amount | Case Details |
| Construction Accident | $2,250,000 | VWorker fell due to inadequate safety equipment, resulting in severe injuries and inability to work. |
| Medical Malpractice | $2,200,000 | Young woman paralyzed after a spinal surgery due to medical negligence. |
| Sexual Assault | $2,000,000 | The victim was assaulted due to negligent security at an apartment building. |
| Pedestrian Accidents | $1,100,000 – $1,500,000 | Various severe injuries from being struck by vehicles, with extensive hospitalization. |
| Homicide/Negligent Security | $1,500,000 | The tenant was murdered in her apartment. The case involved negligent security claims. |
| Car Accident | $745,000 | The victim in a vehicle rear-ended, requiring neck surgery. |
| Slip and Fall Accidents | $325,000 – $450,000 | Falls due to uncleared snow and defective staircase, requiring surgeries. |
| Trip and Fall Accidents | $400,000 | Falls on snow and ice and defective steps lead to severe injuries and surgical needs. |
| Premises Liability | $875,000 | NYPD detective injured by a ricochet bullet at a poorly maintained firing range. |
The Legal Process in New York
A personal injury settlement involves several legal stages, the first of which is filing a claim. Following this, your lawyer will initiate negotiations with the other party and their legal team. The case will proceed to trial if an agreement cannot be reached. If an agreement is reached, the case will be closed by signing a contract specifying the amount to compensate the victim adequately for their injuries and losses.
The Law Offices of Eric Richman has over twenty-five years of experience securing favorable settlements for our clients. We have extensive experience and a dedicated legal team ready to guide you through the challenges of your case and achieve the best possible legal outcome.
If you have more questions about average New York City lawsuit settlements or if you or someone you love has been injured due to someone else’s negligence, contact us today for a free consultation to discuss your case.
Eric Richman’s team offers compassionate, expert legal representation for the New York City Area. To learn more, contact us for a free consultation or Call us at (800) 801-9655.
