It’s important that you don’t make any quick or impulsive decisions when you’re offered a settlement by an insurance company after a motorcycle accident in New York City. You have one opportunity to recover compensation, and once you agree to accept an offer, you’ll waive the right to seek additional money for your medical bills, loss of income, and other damages in the future.
The insurance company will do whatever it can to limit costs and increase its own profits – and that includes trying to get accident victims like yourself to settle your insurance claim for the bare minimum. Often, insurance adjusters try to take advantage of injured motorcyclists’ stress, anxiety, and fears and manipulate them into settling their insurance claims for pennies on the dollar. They might make an offer very early on in the claims process, too, before you’ve spoken to or hired a NYC motorcycle accident attorney.
There’s a lot to consider before you formally accept an insurance company’s settlement offer, especially when you’ve suffered serious injuries that will likely affect your life for months, years, or decades to come. Only when you know the true value of your motorcycle accident claim can you make an informed decision about whether or not it’s in your best interest to accept the insurance company’s settlement offer.
How Can I Know What my Motorcycle Accident Claim Is Worth?
Every motorcyclist who gets into a traffic accident in New York will have a unique experience. The unique costs, challenges, and hurdles you face after a motorcycle crash will influence the damages you can recover and how those damages are valued.
New York allows injured motorcycle riders to seek economic damages and non-economic damages from a negligent party and/or their insurance company. Economic damages cover present and future financial consequences, while non-economic damages acknowledge that the trauma of a motorcycle accident affects much more than your bank account. Compensable damages can include money for:
- Medical bills
- PTSD
- Chronic pain
- Lost wages
- Disability
- Inconvenience
- Reduced earning capacity
- Rehabilitation and therapy
- Costs paid out of pocket
- Pain and suffering
- Emotional distress
- Loss of consortium
- Disfigurement and physical scarring
- Damage to your motorcycle and other property
- Reduced quality of life
Several things will impact how these damages are valued and, in turn, how much money the insurance company should offer in a settlement agreement.
- Did you need to be hospitalized?
- How has your earning capacity changed?
- Were you wearing a motorcycle helmet?
- Did you take steps to mitigate your injuries?
- Are you being blamed, even in part, for the motorcycle crash?
- What are the at-fault party’s insurance benefits and limits?
- How has being in a motorcycle accident affected your quality of life?
- What types of physical injuries did you suffer in the motorcycle accident?
- Will you need long-term medical care to achieve maximum medical improvement?
- Are you expected to have some level of permanent impairment or disability?
- Has your ability to work been compromised because of the motorcycle accident?
More serious injuries tend to lead to more significant expenses and life changes. In turn, the amount of money a rider requires to cover their financial losses and cope with life after a motorcycle accident can be much, much higher. Only once your motorcycle accident is thoroughly investigated and the nature of your physical injuries is known will it be possible to know what your case is worth and if the insurance company’s settlement offer comes close to matching that.
Working with an experienced New York City motorcycle accident attorney at The Platta Law Firm can help you gain valuable insight into your claim’s worth and make smart decisions during the negotiation process.
How Can a Motorcycle Accident Attorney in NYC Help Me Recover a Fair Settlement?
Getting an attorney involved forces the insurance company to take your fight for compensation seriously. Insurance companies lose the upper hand and are forced to put their manipulative playbook and strategies aside. When faced with the team from The Platta Law Firm, the insurance adjuster will know that they have to make a good faith effort to settle your claim for its true
value or risk facing our exceptionally talented New York trial attorneys in court. When you choose The Platta Law Firm, we’ll launch a thorough investigation into your motorcycle accident, partner with expert witnesses as we evaluate your damages and assess the motorcycle accident’s impact on your life, and build a compelling legal claim that forces the insurance company to make you a fair offer. As long as their offer covers your future costs and accounts for the future financial repercussions of your accident, as well as your pain and suffering, it can be in your best interests to settle.
Our NYC personal injury lawyers will help you understand the potential pros and cons of accepting a settlement, offer guidance and insight, and work hard to ensure that you’re awarded full compensation for all of your damages. We offer a free consultation, so contact our award-winning motorcycle accident lawyers in NYC for help at (212) 514-5100 today.