If you have been injured because of someone else’s negligence in New York, you may be entitled to compensation for your economic and non-economic damages. Most personal injury cases are resolved through settlement negotiations rather than going to trial.
However, reaching a fair settlement is not always simple. Insurance companies may dispute the value of your claim or try to minimize what they pay. Continue reading to learn how settlement negotiations work in a New York personal injury case.
How Settlement Negotiations Begin
Before any negotiations can take place, your attorney needs to have a full picture of your injuries and losses. That means waiting until you have completed medical treatment, or at least reached a point where your doctor can give a clear prognosis for your recovery. Settling too early can leave money on the table because the full extent of your damages may not be known yet.
Once your personal injury attorney has gathered the necessary evidence, they will prepare a demand letter and send it to the insurance company. This letter lays out the facts of your case, the injuries you sustained, the treatment you received, and the total amount of compensation you are seeking.
What to Expect From the Insurance Company
It is rare for an insurance company to accept the amount in the demand letter right away. These are businesses built around managing risk and minimizing payouts, and they have entire teams dedicated to protecting their bottom line. In most cases, the insurer may deny the claim or respond with a counteroffer below the amount requested.
From there, the back-and-forth begins. Your attorney and the insurance adjuster may exchange offers and counteroffers over the course of several weeks or longer.
What Tactics May Insurance Companies Use During Negotiations?
During negotiations, the insurance company may use a number of tactics to reduce the value of your claim.
Some of the most common include:
- Questioning the severity of your injuries
- Blaming you for contributing to the accident
- Pointing to gaps in your medical treatment
- Pressuring you to accept a quick settlement
- Disputing the cost of your future medical care
Having an experienced lawyer handle these conversations can help you respond to these tactics and protect your interests throughout negotiations.
How Long Do Settlement Negotiations Take?
There is no set timeline for personal injury settlement negotiations. Some claims may be resolved relatively quickly, while others take longer because of disputed liability, serious injuries, or disagreements about the value of the claim.
Your attorney may also recommend waiting until the extent of your injuries is better understood before accepting an offer. Taking additional time can help ensure that future medical treatment and other ongoing losses are considered during negotiations.
What Factors Can Affect the Value of My Settlement?
Each personal injury case in New York is different, and the amount you ultimately settle for will depend on a number of factors.
Some of the most important include:
- The severity of your injuries and whether they are permanent
- Your total medical expenses, including future treatment costs
- How much income you lost and whether your ability to earn has been affected long-term
- The strength of the evidence supporting your claim
- The degree to which the other party was at fault
- The limits of any relevant insurance policies
New York follows a pure comparative negligence standard. This means you may still recover compensation if you share responsibility for your injuries, but your recovery can be reduced according to your percentage of fault. Your attorney can respond to allegations of fault and work to protect the value of your claim.
What Happens if Negotiations Fail?
If the insurance company refuses to make a reasonable offer, your attorney may recommend filing a lawsuit. In New York, the statute of limitations for many personal injury claims is three years, although different deadlines and exceptions may apply depending on the type of case.
Filing a lawsuit does not necessarily mean your case is going to trial. In fact, many cases settle during the litigation process, sometimes even after a trial date has been set. The act of filing a lawsuit often signals to the insurer that you are serious about pursuing full compensation, and that alone can push them toward a better offer.
Contact the Middletown Personal Injury Lawyers at Rolo Law Personal Injury Lawyers for Help Today
Before you sign a settlement agreement, it is important to understand that doing so is generally final. Once a claim is settled and released, you typically give up the right to pursue additional compensation for the same claim. That is why it is important to make sure an offer accounts for your current and future losses before accepting it.
Rolo Law Personal Injury Lawyers can review your case, handle negotiations with the insurance company, and help you determine whether a settlement offer fairly accounts for your losses. Schedule a free consultation with a Middletown personal injury attorney today to learn more about your legal options.
Visit Our Personal Injury Law Office in Middletown, NY
Rolo Law Personal Injury Lawyers
265 NY-211 Suite 106B, Middletown, NY 10940
(845) 383-7790