Average Settlement for NYC Motorcycle Accidents

Motorcycle accidents can have serious physical, financial, and emotional consequences for injured riders. Thankfully, pursuing motorcycle accident compensation from the party responsible can help cover your medical bills, lost wages, and other losses.

Since every motorcycle accident case is unique and numerous factors can influence the final amount, it’s difficult to pinpoint what constitutes an average motorcycle accident settlement. An experienced motorcycle accident attorney from Finz & Finz, P.C., can review your case and help you understand what you might be able to expect from a settlement.

Damages Available in a Motorcycle Accident Settlement

While the motorcycle accident compensation available to you depends on the specifics of your accident, you may be able to seek compensation for:

Medical expenses, including anticipated future costs
Lost income, including loss of earning capacity
Physical and emotional pain and suffering
Diminished quality of life
Property damage

Factors That Affect Your NYC Motorcycle Accident Settlement

Several factors can influence the amount of your motorcycle accident settlement. These include:

Severity of Injuries – More extensive injuries typically result in larger settlements due to higher medical expenses and longer recovery times.
Insurance Coverage – The limits of the relevant insurance policies can cap your settlement amount. Whether you have underinsured or uninsured motorist coverage can also play a role.
Fault Determination – If you are partially at fault for the crash, the insurance company may reduce your settlement. New York follows a comparative negligence rule that allows you to seek compensation but adjusts the amount based on your percentage of fault.
Accurate Valuation – Be certain that you include any future losses or expenses in your insurance claim. When you reach an agreement with the insurance company for a motorcycle accident settlement, you cannot seek additional money, even if additional expenses arise.
Detailed Losses – The more information you can give the insurance company about medical bills, lost wages, and other financial influencers, the stronger your claim will be.
Non-Economic Damages – Pain and suffering and other non-economic losses are more challenging to quantify but can significantly affect your settlement amount.

How to Calculate Pain and Suffering in a Motorcycle Accident Case

Calculating pain and suffering involves considering several aspects of your post-accident life. Lawyers often use the multiplier method, where they multiply your economic losses (like medical bills and lost income) by a number between 1.5 and 5, depending on the severity of your pain and suffering. Certain factors play a role in determining your pain and suffering compensation:

Chronic pain or long-term suffering increases the value of your claim.
If the accident limits your ability to perform daily activities or hobbies, your motorcycle accident compensation may be higher.
You may include anxiety, depression, or post-traumatic stress disorder (PTSD) resulting from the accident in your claim.

Contact Our New York City Motorcycle Accident Lawyers

Were you hurt in a motorcycle accident in New York City? The experienced team at Finz & Finz, P.C., is here to help you maximize a potential motorcycle accident settlement. We have a proven track record of securing significant settlements for our clients. Over the years, our firm has scored record verdicts and settlements totaling over $1 billion. Contact Finz & Finz, P.C., today to get started with a free consultation.