How Are Slip And Fall Settlements Calculated in New York?
Slip and fall injury settlements in New York are calculated based on several key factors. While each case is unique, and settlement amounts can vary widely, the following considerations play an important role in determining the value of a slip and fall settlement.
Liability
The strength of the case in proving liability is crucial. If evidence is available and it can be proved that the property owner or occupier was negligent and responsible for the slip and fall accident, the likelihood of a favorable settlement increases.
Injuries and Damages
The nature and extent of the injuries suffered by the victim are primary factors. More severe injuries typically result in higher settlements. Medical bills, ongoing treatment costs, and the impact of injuries on the victim's life are considered.
Loss of Income
If the victim is unable to work for a certain time period, suffers a disability that prevents them to work, or experiences another type of loss of income due to the slip and fall injuries, these financial losses are factored into the settlement amount.
Pain and Suffering
Non-economic damages, such as pain and suffering, emotional distress, and a diminished quality of life, are considered when calculating the settlement. The assessment of these damages can be subjective and may require negotiations.
Comparative Negligence
New York follows a comparative negligence system, where the victim's own negligence can affect the settlement amount. If the victim is found partially at fault for the accident, the settlement may be reduced proportionally.
Available Insurance Coverage
The property owner's insurance coverage can impact the settlement. Larger insurance policies generally provide more significant settlements, ensuring that victims are adequately compensated for their injuries.
Precedents and Case Law
Previous slip and fall cases and settlements in New York can serve as reference points for determining an appropriate settlement amount. Legal professionals use these precedents to establish a reasonable settlement range.
Quality of Legal Representation
Having skilled legal representation can make a substantial difference in the settlement amount. Experienced and resourceful attorneys can negotiate effectively and ensure that the victim's rights and interests are protected.
Negotiation Skills
Effective negotiation skills are essential in securing a fair settlement. Attorneys with a reputation as aggressive negotiators will work to maximize the settlement amount by strongly advocating on behalf of the victim and back their claim with compelling evidence and facts.
You should note that slip and fall settlements in New York are often reached through negotiations between the victim's lawyer and the property owner's insurance company. Each case is unique, and the specific circumstances will influence the final settlement amount. Having an experienced slip and fall injury attorney in New York on your side will ensure that you receive the maximum financial compensation you deserve.
Why You Need a Top New York Slip and Fall Injury Lawyer to Maximize Your Settlement?
A Top Lawyer will have Extensive Legal Skills and Resources
Negotiating Leverage
Having a lawyer with extensive legal skills and resources increases your negotiating leverage. Insurance companies and opposing parties are more likely to offer a favorable settlement when they recognize that your attorney is fully capable of taking the case to trial and presenting a compelling case before the judge or jury. Their ability to go to trial demonstrates a readiness to vigorously pursue your rights and hold powerful defendants and large insurance companies accountable for maximum damages on your behalf.
A Top Lawyer will Prepare for Trial even while the Negotiations are Going on
Negotiating Leverage
Maintaining trial preparedness throughout negotiations is a critical factor in maximizing your slip and fall injury settlement. When the defendant knows that your lawyer is fully ready for trial, they are more inclined to offer a fair settlement to avoid the uncertainties and potential costs of a courtroom battle. This approach conveys your lawyer's commitment to securing the best possible outcome for you, bolstering your negotiating position.
A Top Lawyer will have a Formidable Record of Large Settlements and Verdicts
Negotiating Leverage
A lawyer's proven record of securing large settlements and verdicts in slip and fall injury cases is a potent negotiating tool. It demonstrates their ability to achieve substantial damages for the injured victims in case after case, which can soften the stand of the defendants and compel them to offer a higher settlement. The track record serves as evidence of the attorney's skill, and insurance companies are often more willing to negotiate favorable terms to avoid the risk of a massive jury verdict against them.
Get the Most Results-Driven New York Slip and Fall Attorneys on Your Side
At the Law Offices of Michael S. Lamonsoff, our battle-tested New York slip and fall injury lawyers, led by the indomitable attorney Michael Lamonsoff "The Bull," are equipped with the skills and resources to take on powerful adversaries. With a demonstrable record of successes in these cases, we are here to maximize your compensation. Don't settle for less when you can have the best on your side. Take a stand and let "The Bull" and his team fight for what you rightfully deserve. To schedule your free consultation, call us today at 212-962-1020 or contact us online.