What is The Average Settlement of a Motorcycle Accident Injury Claim?

Because of the severity of the injuries sustained by the motorbike drivers, motorcycle accidents might result in exorbitant medical bills. The average settlement of a motorcycle injury claim is around $80,000. However, some cases may settle for $9,000, while others may be worth millions of dollars. Every collision is unique, thus estimating the value of motorcycle accident injury claims is hard. There are numerous elements that can affect the amount of money that can be recovered. For that reason, it is crucial to seek legal advice from an experienced motorcycle accident injury lawyer. A lawyer will have a better estimate of how much you can recover after studying the specifics of your case.

What Factors Influence Your Motorcycle Accident Settlement?

Like previously mentioned, there are several factors that can increase or decrease the settlement amount. Here are some of the most important ones:

Motorcycle Accident Liability

Without a doubt, determining who was at blame is one of the most crucial aspects to examine when determining the value of your motorcycle accident injury claim. To receive compensation for your losses, you must show that the other driver was irresponsible and that their actions caused the accident. You will most likely be unable to obtain compensation if you do not have the proper evidence to indicate that the other party was at fault. Furthermore, New York is a comparative negligence state. That means that even if the other party was primarily to blame, you could be held accountable for a smaller portion of the accident. For example, if the other party was accountable for 80% of the accident, you were responsible for the other 20%. As a result, the percentage of liability you carry will diminish your compensation.

Insurance Policies of Both Parties

Checking the insurance coverage of both parties is another crucial thing to consider when calculating the value of your case. First, you must determine whether the other driver is insured. If the at-fault party is not covered, you should review your insurance policy and learn more about uninsured motorist coverage. If the person who caused the accident is insured, you must be aware of the policy’s limits. Remember that you cannot recover beyond the policy limits. If the other party’s insurance company cannot cover your medical expenditures and other damages because their limits are too low, you can still use your underinsured motorist policy or file a personal injury claim. A lawyer will be able to decide the appropriate course of action based on both parties’ insurance plans.

Reckless Driving

Your prospects of collecting compensation can be greatly reduced if there is evidence that you were driving recklessly. This is equally true if the motorbike driver was under the influence of drugs or alcohol. While it is feasible to receive compensation, the settlement sum is unlikely to be large.

Severity of The Injuries

As you may expect, major injuries result in high medical expenditures. A person who sustained a few scratches will not require nearly as much medical attention as someone who will require surgery. Remember that your compensation must cover both current and future medical expenditures.

Damages

The value of your case will be assessed by combining all economic and noneconomic damages. This means that the severity of your injuries, property damage (the motorcycle), lost pay, impaired earning ability, pain and suffering, and any other out-of-pocket expenses should all be considered. The greater your losses were, the bigger your compensation should be.

Lost Earnings/Earning Capacity

You may be unable to return to work for several days or even weeks following a motorcycle accident. This indicates you will lose money. The amount of money you should have earned must be included into the compensation. If your injuries were severe enough to preclude you from doing your previous job, you must be compensated for your lost earning capacity. Your lawyer will assist you in calculating the amount of money you could have made using your pre-accident wage and estimating the number of years of work you had left.

What Are The Most Common Motorcycle Accident Injuries?

• Whiplash
• Road rash
• Spinal injuries
• Broken or amputated limbs
• Broken ribs
• Facial disfigurement
• Facial fractures
• Lacerations
• Organ damage
• Internal bleeding
• Traumatic brain injury (TBI)

How to Calculate Pain and Suffering in a Motorcycle Accident Case?

Pain and suffering is a noneconomic loss because it is a damage that does not directly affect you monetarily. Nonetheless, you should be compensated for the emotional hardship, psychological trauma, and mental anguish caused by your injuries. Calculating pain and suffering is not an easy task. There is not a correct method to do this but an experienced motorcycle accident attorney will use the best approach for each individual case. There are two approaches that are most commonly used:

• Multipliers method: Insurance firms frequently employ this method. Essentially, they take the amount of money that accounts for economic losses and multiply it by a number between one and five, being three the most commonly used number.

• Per diem method: This strategy is not as popular as the multipliers method. The per diem technique entails designating a cash amount to each day. The dollar amount is then multiplied by the number of days between the date of the accident and the date when the victim is expected to be entirely healed or attain the highest possible level of recovery.

Despite the fact that these are two of the most popular, insurance companies and attorneys are not required to employ them. Based on the facts of your case, your attorney will evaluate which approach is best for calculating the worth of your noneconomic damages.

How Long Does it Take to Settle a Motorcycle Accident Claim?

Some motorcycle accident claims might be resolved in a matter of months, while others can take years. Each case is unique, and the time it takes to resolve them varies. Cases involving huge quantities of money take longer to resolve.

Normally, both sides will spend the majority of their time attempting to gather evidence in order to create a good case, which can take months if evidence is difficult to obtain. Additionally, the victim’s recuperation period will be important. Your doctor will not be able to precisely predict the medical treatment you will require in the future right after the injury; they will have to wait and observe how you progress.

Finally, if you cannot settle your case through negotiation with the insurance company and opt to file a personal injury lawsuit, the time it takes to conclude the case will undoubtedly grow.

How a New York Motorcycle Accident Lawyer Can Help?

Hiring a motorcycle accident lawyer increases your chances of receiving the money you deserve for your injuries. A lawyer will assist you in obtaining the evidence you need to support your claim, calculating the worth of your claim accurately, negotiating with the insurance company, and guiding you through the entire claim process. Some of the finest motorcycle accident attorneys can be found at Greenberg & Stein P.C. Our legal experts will assist you in all aspects of the claim procedure and will represent you in court if necessary. If you have just been in a motorcycle accident, call us at 212-681-2535 to set up a free appointment to review your case.