Having the right law firm on your side when fighting a huge insurance company is crucial for you and your family. Insurance companies are trying to pay you the least amount of money possible, and settling your personal injury claim for a fair amount requires skilled and knowledgeable legal counsel.
If you've been injured due to someone else's negligence in Westchester County or the Greater New York City region, contact our experienced personal injury lawyers . Seasoned personal injury attorneys can navigate the complex world of injury settlements, so you and your family receive the compensation you’re due.
What Is a Personal Injury Settlement? A personal injury settlement is a legal agreement reached between the injured party and the at-fault party or their insurance company to resolve a personal injury claim. This agreement usually involves a sum of money paid to the injured party to compensate them for their losses.
After decades of experience with personal injury cases in Westchester County and the 5 boroughs, we know that the average personal injury settlement in the Greater New York City region is 10x higher than the average in the rest of the state. This substantial difference highlights the critical importance of working with experienced personal injury lawyers to secure the compensation you deserve after an accident.
At Tomkiel & Tomkiel , we're a team of advocates who fight hard to get our clients massive personal injury settlements. We've achieved amazing success, and here are some recent cases we're proud of:
We're not just lawyers, we're your partners in fighting for justice.
The Steps of Getting a Personal Injury Settlement The settlement process for a personal injury case can be complex. But our attorneys can navigate this process for you and win the compensation you’re owed. Here's a breakdown of what to expect:
Consult with Our Attorneys The first step is to seek legal guidance from our skillful personal injury attorneys. We will help you understand your rights, assess the strength of your case, and advise you on the best course of action. Without the help of an attorney, the insurance company will take advantage of you and you will receive less money for your injuries and losses.
Gather Information and Evidence Our attorneys will gather evidence, including medical records, police reports, witness statements, and photos, to prove your claim and demonstrate the seriousness of your injuries. The more detailed and compelling the evidence, the stronger your case will be and the more money you could potentially receive.
Demand Letter One of your skilled and knowledgeable lawyers will send a demand letter to the insurance company outlining your claim, presenting all the evidence, and demanding full and fair compensation. This letter will formally initiate the negotiation process and set the stage for a settlement discussion.
Negotiation The negotiation process for a personal injury settlement is complex and involves several factors.
The strength of your case, including the evidence of negligence and the severity of your injuries, will significantly impact the settlement amount. The aim of insurance companies is to minimize their payouts. Your injuries and damages, including medical expenses, lost wages, pain and suffering, and permanent disabilities, will influence the settlement offer. State laws can influence the settlement process and the types of damages you may be eligible for. Your personal injury attorney will negotiate with the insurance company on your behalf, advocating for the maximum compensation possible.
Don’t Lose Out on Tens of Thousands of Dollars Our experienced New York personal injury lawyers at Tomkiel & Tomkiel are here to make sure you get every dollar for your injury. Don’t wait because time is of the essence. Contact us today for a free consultation.
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Settlement Offer Your attorney will carefully review any settlement amount offered by the insurance company with you, considering all factors, before you decide whether to accept or continue negotiations. This review process is necessary to ensure you understand the offer and its potential implications.
Acceptance and Agreement If you accept the offer, a formal settlement agreement will be drafted outlining the terms of the payment and any releases of liability. Your personal injury attorney will carefully review this agreement to ensure it is in your best interests.
Payment Once the settlement agreement is signed, the insurance company will pay the settlement amount according to the agreed-upon method. This payment can be made in a lump sum or through a structured settlement, depending on the terms of the agreement and what is best for you.
Release of Liability You will sign a release of liability, which means you agree to give up your right to pursue further legal action in exchange for the settlement payment. It's important to understand the full implications of signing a release before proceeding.
Factors Influencing the Personal Injury Settlement A personal injury settlement is a lump sum payment intended to compensate you for your financial and non-financial losses. You have significant flexibility in how you use these funds. The amount of the settlement will be determined by considering the following factors:
Medical expenses cover past medical bills, including hospital stays, surgeries, medications, and therapy. They also encompass anticipated future medical expenses, such as treatments, medications, or therapies.Lost wages address the income lost during your recovery period. It can also cover potential future income loss due to disability or an inability to work.Pain and suffering accounts for the physical pain and discomfort you experience, as well as the emotional distress, anxiety, and mental anguish that can result from an injury. It also acknowledges the loss of enjoyment of life that can occur due to an injury.Property damage covers repairing or replacing damaged property, such as a vehicle, home, or personal belongings.Other expenses can include home modifications to accommodate disabilities, caregiving costs, and transportation expenses.While receiving a personal injury settlement can be a significant financial benefit, it's important to be aware of potential restrictions on how you can spend those funds.
Factors That Don't Affect Your Personal Injury Settlement Amount When determining your personal injury settlement, certain factors won't boost your compensation amount, even if you think they should. The settlement amount stays based on your actual damages and documented losses.
Having dependents, ongoing bills, or other financial obligations won't increase your settlement. While your situation may be difficult, factors like job stress, family responsibilities, or general life challenges won't enhance your compensation. Existing debts, mortgage payments, or other financial commitments don't increase your settlement amount. Your settlement is calculated based on actual injury-related damages (medical bills, lost wages, and direct suffering), not external life circumstances or financial needs.
How Are Personal Injury Settlements Paid Out? Most personal injury settlements are paid out in one of two ways. Here are the primary methods to choose when you reach a settlement in a personal injury case.
Lump Sum Payment This is the most common way personal injury settlements are paid. You receive the entire settlement amount in a single payment, typically within a few weeks of the settlement agreement being finalized. This method is straightforward and provides immediate financial relief.
However, it can be challenging to manage a large sum of money effectively, and some people find it difficult to plan for long-term financial needs with a single lump sum.
Structured Settlement In a structured settlement, the settlement amount is paid out in a series of regular payments over a specified period. This can be beneficial for individuals with long-term medical needs, providing financial stability for ongoing medical care and other expenses.
This method can also provide a level of protection against potential mismanagement of funds, as the payments are automatically distributed over time, reducing the risk of impulsive spending or financial instability.
Don’t Risk Your Future. Get Help with Tomkiel & Tomkiel If you've been injured due to someone else's negligence, taking action as soon as possible can be the difference between getting nothing or potentially winning a huge settlement. Don’t take that chance. Tomkiel & Tomkiel is here to fight for you after an injury in Westchester County or New York.
Contact us today for a free consultation with our dedicated personal injury lawyers to discuss your settlement options.
