New York’s personal injury law firm
Click For Your Free ConsulationPosted in Slip and Fall Accidents on October 29, 2024
Over two million fall injuries occur each year because of conditions like slippery walkways, uneven floors, and similar circumstances. In the event that you or a loved one suffer these injuries while lawfully present on another’s property, you may have a legal cause of action against the property’s owner.
Slip and fall lawsuits in New York are one way through which injured parties may resolve their legal claims against a property owner. And like other civil actions, they could lead to settlements. The property owner pays the injured person a specific amount in exchange for the wounded individual agreeing not to pursue additional recourse.
Before any slip and fall case settles, the parties must agree on the amount of money the injured person should receive. The amount should adequately address the victim’s expenses while limiting the exposure the owner could face if the matter went to trial. In that sense, settlements can benefit slip and fall victims and negligent property owners alike.
Nevertheless, the nature and extent of the victim’s injuries are of central concern when determining an appropriate settlement value. An accident that results in a traumatic brain injury or permanent spinal cord damage will settle for a higher amount than one that results in a broken arm. A victim’s emotional and mental harm also factor into the equation.
There are two general types of losses a slip and fall injury victim might experience: economic and non-economic.
The former encompasses medical expenses associated with a person’s injuries, lost wages, and other costs for which there is a bill, invoice, or receipt. The latter refers to intangible losses, such as losing a person’s peace, security, or enjoyment of life. Any settlement must consider the average cost of both forms of losses a victim might have sustained in their accident.
A slip and fall can lead to numerous physical injuries, each with varying degrees of severity. Injuries that result in permanent disabilities or affect numerous bodily functions will require the greatest amount of treatment. For example, the total lifetime cost of treating a traumatic brain injury was recently estimated to be nearly $87,000.
Broken arm, hip, and leg bones are typical in slip and fall cases. A simple bone fracture can cost as much as $7,500 to treat, while compound fractures and fractures to long bones in the arms and legs can cost much more. The costs associated with treating a broken bone also increase if surgery is needed to set and stabilize the bone to promote proper healing.
These figures represent only the direct and immediate cost of treating a slip and fall victim’s injuries. If the person must spend any time in a hospital, that will also add to their expenses. A three-day stay in a hospital can cost as much as $30,000 on top of other medical-related expenses.
A victim must also consider their lost wages and decreased earning potential. For example, suppose that a victim breaks their leg and cannot work for six months. If that individual normally made $1,000 per week, being unable to work for six months would put them out of nearly $24,000 in income.
Similarly, a slip and fall accident can affect a person’s ability to return to their previous employment, affecting their future earning potential. Suppose the individual described above needed to accept a less demanding job after their injury, and it only pays $500 per week. That difference in pay also represents a financial loss that should be reflected in a settlement.
Beyond physical injuries, a slip and fall accident can take a toll on a person’s mental and emotional well-being. These effects are unique to each individual and can vary greatly, even among those who sustain the same physical injuries.
Nevertheless, the financial costs of such emotional and mental trauma will typically be more significant where the victim’s physical injuries involve any of the following:
A slip and fall resulting in a minor bone fracture might not cause much in the way of mental harm. Conversely, a broken hip that immobilizes the victim for months will likely result in significant emotional trauma.
Because any slip and fall accident can involve many variables, arriving at a single average settlement amount for these cases is impossible. Still, it is generally agreed that a slip and fall in which the victim suffers a simple fracture that does not require hospitalization or surgery could settle for a few thousand dollars.
A victim who suffers a fractured hip in a New York slip and fall, on the other hand, might require surgery to repair the fracture and hospitalization for several days after that. The person’s mobility, as well as their ability to work and participate in daily activities, would be greatly impacted. Given all these aspects, such a case could settle for $40,000 or more.
Again, it is crucial to remember that these figures are rough estimates based on average expenses.
The amount a specific victim will receive through a settlement will ultimately depend on numerous factors, such as:
New York slip and fall victims may find it helpful to consult with an experienced attorney who can help them understand an appropriate settlement amount for their case.
A settlement is a common way in which slip and fall lawsuits are handled in New York. The amount for which such cases are settled depends on the victim’s economic and non-economic losses and other relevant factors. While every case is different, even slip and fall accidents resulting in a single broken bone can lead to a settlement worth several thousand dollars.
If you need legal assistance, contact the New York City personal injury lawyers at Law Offices of Jay S. Knispel Personal Injury Lawyers at your nearest location to schedule a free consultation.
We have two convenient locations in New York:
Law Offices of Jay S. Knispel Personal Injury Lawyers – New York City Office
450 7th Ave #1605
New York, NY 10123
(212) 564-2800
Law Offices of Jay S. Knispel Personal Injury Lawyers – Brooklyn Office
26 Court St Suite 2511
Brooklyn, NY 11242
(718) 802-1600