Calculating the Value of an Injury Lawsuit
Let’s make this clear: it’s impossible for anyone to tell you—with any certainty—what you’re likely to receive in compensation when pursuing a personal injury case. While your goal is to recover 100% of your related damages/losses, every case is unique, and every case has its challenges.
The most-qualified person to advise you with regard to the potential value of your claim is your attorney, and your attorney alone. You obviously cannot rely on what the insurance company says, because they have a vested interest completely counter to yours. They will often lie to your face and say they can only offer a certain amount, in hopes that you accept their offer without hiring an attorney. Do not fall for their games.
What determines the value of a personal injury case? Let’s start by considering the actual damages that a plaintiff (victim) can sue for:
- Medical Expenses: This is often the first and foremost expense, as medical bills are very high. This includes medical care, surgeries, ER care, physical therapy sessions, diagnosis expenses, the cost of medication, and the use of high-tech equipment. Medical expenses include both past medical bills as well as expected future expenses recommended by your doctor.
- Lost Wages: If an accident victim misses work because of a personal injury then he or she is entitled to seek compensation for lost wages (including reduced earning capacity moving forward). In order to collect these damages, the plaintiff must prove how much their income was prior to the accident. For future lost wages, evidence must be provided as to what the earnings would have amounted to.
- Loss of Consortium: These damages cover the accident victim’s injury to his marital relationship. This may involve the inability of the injured party to enjoy sexual relations, to communicate with the other partner, or some other reason in which his marriage has been irreparably harmed.
- Pain and Suffering: While the most expensive cases of pain and suffering involve pain resulting from disfigurement, embarrassment and permanent disability, it can also apply to emotional distress, mental anguish and the loss of enjoyment of daily living.
- Punitive Damages: While punitive damages are not often sought, a judge or jury can award them to the plaintiff as punishment for the defendant’s egregious actions, and also as a deterrent for future similar actions.
Black’s Law Dictionary (the most widely used law dictionary in the United States) states that additional factors may also determine the potential value of a personal injury claim, such as:
- The age of the client (the younger the victim and the greater the loss, the more compensation tends to be awarded).
- The nature and extent of the injuries.
- Personal attributes and the fortitude of the client.
All this being said, you’re simply not going to be able to get accurate information regarding the value of an injury claim by searching the internet. In fact, many people with legitimate and meritorious claims never recover a penny. Without an attorney on your side who can give you leverage over the insurance company, you’re simply at the mercy of your claims adjuster. The good news is that personal injury attorneys work on contingency, meaning you never have to risk a penny of your own money to hire a lawyer.
If you’d like to discuss your case with an attorney (for free) today, call Rasansky Law Firm today at 1-800-ATTORNEY. We’ll advise you of your options and give you our honest advice regarding your claim. If you decide to hire us, we’ll begin working on your case today!
Category: Lawyer's Advice
