Following an auto accident, there are a number of losses you may suffer. Understanding what these losses are may help you in deciding how to proceed after the accident, such as deciding whether or not to hire an NY car accident lawyer.

There are nearly 300 million registered vehicles traveling U.S. roadways. Of those vehicles, around six million are involved in collisions annually. Even minor collisions can cause serious harm. When another party's negligence plays a role in triggering an accident, the victim deserves compensation. A qualified personal injury lawyer should be consulted in such a situation. If you need help in seeking compensation for injuries caused by the accident, legal representation is your best bet.

A lawyer, such as Brandon J. Broderick, Attorney at Law, can help recover losses, which is discussed below. If you have any other concerns, our team can help address them.

Economic Losses Explained

Any financial losses that are quantifiable are referred to as economic losses. Specifically, this can include costs of repairs to homes or vehicles, as well as any associated medical costs and lost wages. If you can prove that you suffered a financial loss as the result of the accident, you may be eligible for compensation.

Keep in mind that many insurers will only pay for economic losses, allowing for speedy resolutions of claims. Nonetheless, you might suffer from other non-economic damages as well. Although harder to prove, non-economic losses must be taken into account when seeking compensation for all losses.

Non-Economic Losses Explained

You have likely heard of the legal concept of "pain and suffering." It is a legal term that refers to both physical and mental harm that is brought on by a car crash or other accidents. Damages for pain and suffering are considered non-economic. In addition to physical injuries, many people involved in auto accidents also suffer from emotional distress.

Some accident victims may suffer from post-traumatic stress disorder (PTSD) after an automobile collision. Counseling or medication may be necessary to treat PTSD. In extreme situations, they could be unable to return to work. However, insurance companies are hesitant to cover visits to a psychologist or the expense of medication. On the other hand, an insurance adjuster can argue that the crash wasn't the actual cause of the PTSD.

Non-economic losses aren't just emotional distress. A person's happiness and well-being may be severely impacted if say your significant other has a loss of quality of life or dies in an accident. This is another loss, although the challenge comes from the fact that it may be hard to quantify the extent of the losses.

In the end, it can be difficult to assign a dollar amount to non-economic losses. Damages of this nature are typically determined by attorneys. Furthermore, they might consult professionals for assistance.

Punitive Damages

The courts use punitive damages as a form of punishment for misbehavior or wrongdoing by another party. Punitive damages are rarely awarded in car accident cases. Instead, they are usually only awarded in the most extreme cases, such as those involving drunk driving and serious injuries. Punitive damages are intended to serve as strong deterrents, hence courts often award substantial sums.

Punitive damages are intended to punish willful or wanton behavior that directly caused or contributed to an accident or injury. Overworked truck drivers have fallen asleep at the wheel, causing accidents and resulting in lawsuits for personal injuries. You might file a lawsuit against the trucking company if they did not allow its drivers to have sufficient rest and seek punitive damages.

A faulty product is subject to the same strict liability principles. A corporation is operating recklessly if it releases a faulty product onto the market.

How Are Damages Calculated?

Your personal injury lawyer will be tasked with figuring out how much money you will seek in compensation. There is where experience becomes invaluable, and why an experienced lawyer by your side is important.

Your lawyer can advise you on what kind of settlement offer is reasonable. However, that total must account for all losses. If the proposed sum is not accepted, a lawsuit can be formally filed.

Settlements are reached out of court in the vast majority of personal injury cases. The threat of legal action is often all it takes to get an insurance company or other liable party to settle. That's why it's so important to hire a good personal injury lawyer. They will aid in reaching a swift and equitable conclusion.

Legal Representation for New York Car Accident Victims

A car accident caused by another person should result in you receiving full compensation for your losses. The result of your case may depend on whether or not you work with an experienced New York car accident lawyer. Why take the chance of getting paid unfairly? Working with our team of attorneys at Brandon J. Broderick doesn't cost you anything upfront. We take cases on a contingency fee basis, which means we only get paid if we win your case. If we cannot reach a settlement, we will take your case to court if there is a chance we can resolve your case.

If you need a lawyer, allow us to help you recover your losses. Contact our office today to have our attorneys evaluate your case.
We have represented clients across New York, with offices in Brooklyn, Yonkers, Queens, the Bronx, Rochester, Buffalo and Albany.