Many clients ask us a simple question: “How much is my personal injury claim worth?” The answer is not so simple. More often than not, individuals who are injured rely on insurance companies to tell them how much their damages are worth, even when the insurance companies’ main goal is to minimize the spend out of their own pockets. Because they usually aren’t looking at the injury from the client’s perspective, they may not truly understand the extent of the injuries. The actual value of the case can be found in the minute details. Insurance companies need to factor in ALL the facts to put forward an accurate settlement estimate.
These cases, also referred to as tort cases, may be filed in a wide range of situations. Sometimes these injuries may be minor. Other times they can be devastating. It can be overwhelming for victims trying to deal with the complication of the legal process to get their life and health back together at the same time. An injury attorney can prove vital in helping to minimize the stress.
Determining Factors
Personal injury cases are somewhat straightforward. The injured individual files a civil complaint against the person/party responsible. It may seem that every injury results in a “settlement,” but injury cases are actually a court-based process. The amount of time (hyperlink to other blog) an injury case will take varies case-to-case.
The value of a personal injury claim can vary. The true monetary value, however, usually depends on the following factors:
- Medical expenses;
- Lost work expenses;
- Unique case circumstances;
- The defendants’ individual assets or insurance assets;
- Physical/emotional pain and suffering; and
- Evident financial loss.
These factors can fluctuate based on each individual situation, so it is almost impossible to get an accurate estimate without a consultation with an experienced injury attorney. It is important to understand that there is only so much time (known as the statute of limitations) to file a complaint. For this reason, it is imperative to contact an injury attorney as quickly as possible so the process can begin.
Document Everything
Another proponent in determining how much a personal injury case is worth can depend on the ability to prove that the costs mentioned above can or will be incurred by the injured person. Therefore, it is important to document everything following an injury, including medical bills, copies of pay stubs prior to the injury, evident financial loss, and more.
The complexity of determining the value of an injury settlement may seem evident, but insurance companies would rather not get caught up in doing so. Calculating the compensation by only factoring lost wages and medical bills (also referred to as “specials”) is irrational. Physical and emotional suffering can and often do lead to a higher compensation, even if it is difficult to quantify.
Hiring an Attorney
Personal injury cases can be life-changing. Understanding the influence that a qualified attorney can have on your case is crucial. The experienced, dependable lawyers at Berry Law Firm will assist you in fighting your next battle to receive the full amount of compensation you deserve. Contact us today.
