How Do You Determine the Value of Your Lawsuit?

Accidents and injuries are going to happen at some point or another, and sometimes no one is at fault. However, there are plenty of times when someone has been negligent, or careless in some way, and then it is someone’s fault. At those times, if you become injured, the law is designed to compensate you, but insurance and claim adjusters are not going to make it easy to receive compensation.

Could Your Case Be Worth a Million Dollars?

A common question early in the case is how much will you get? What’s the case worth? As put by one injury attorney phoenix az has a multitude of cases, each one with a different scenario. If we were discussing something like a car repair, it’s easy to obtain several estimates for the repair costs. However, it’s not that straightforward with personal injury claims, because it’s difficult to have a complete understanding of a person’s entire medical situation.

The value of a person injury case is dependent upon the extent of injuries, the amount of medical bills, how much of your medical bills are being paid by someone else, the amount of wage losses, if at all, and what damages you may incur in the future. That’s a lot of factors.

One way to understand the value of a personal injury case is to look at the verdict form in a typical personal injury case. Most verdict forms ask the jury to decide the total amount of the medical expenses related to the accident and the total amount of wage loss. Another question will ask whether the injuries are permanent. If injuries suffered in an accident are not permanent, then pain and suffering may not be collected.

Determining the Value of a Claim

The value of personal injury cases are highly influenced by the amount of medical expenses and wage loss. In small cases involving minimal injuries, the insurance company sometimes will pay a small sum of money and be done with the case, without very much proof of loss. In larger cases, specific proof of medical complications could be important to convince an insurance company to pay sizable damages before a lawsuit is filed.

Most of the time, attorneys can give you a range of the value of your case, based upon their experience. Insurance companies usually keep a database of the amounts they have paid out in particular cases, which are shared with each other, but not with consumers.

Keep in mind that the initial amount the insurance company offers for your case is not necessarily the final amount, and they may have to pay more or less in your particular situation. The important point to remember is that all of the data that accumulates on personal injury cases will influence your present case. For example, if a person suffers a certain back injury, and the insurance company typically pays out $40-60,000 for that type of back injury, it doesn’t mean future cases will receive that much, because every case is different. However, that gives you an indication of how much of a settlement was granted.

Think of your case as a unique situation, with its own facts, details, and factors that could change your outcome. And remember, insurance companies are focused on profits, not to pay out money on insurance claims. What’s vital to your case are the details and how they are presented, so it’s wise to consult an attorney, experienced in personal injuries.