Determining the value of a personal injury claim is not exactly like pulling any number out of the air. It requires a deep analysis of several factors. Personal injury attorneys break it down into how your injury has impacted your life.
An experienced personal injury attorney will look at every aspect of the case to maximize the value of a claim. They often look at medical expenses, lost wages, and how the injury has affected the client’s life.
Economic Damages
When assessing a personal injury claim, attorneys first consider economic damages, those tangible financial losses due to the injury. These range from medical treatment to the loss of wages because one is unable to go back to work and may not be for a long period as a result of their injuries. If property damage exists, as in a car accident with damaged vehicles, the repair or replacement cost is included.
Non-Economic Damages
Non-economic damages are more subjective and represent the physical and emotional pain and suffering caused by the injury.
Examples of such damages include
- Pain and suffering
- Emotional distress
- Loss of enjoyment of life
- Loss of consortium
The extent of injury, how long it takes to recover, and the pain endured play a major role in determining these kinds of damages. The attorneys work with the client to determine how the injury has affected their daily life, usually through expert testimony, to establish a reasonable value based on experience and legal precedents.
Comparative Negligence
In some instances, the injured party may be at fault partly for the accident. That involves apportioning percentage fault among parties.
For instance, if a person is injured and happens to be 20% at fault, the compensation may be reduced by that percentage. Lawyers are supposed to thoroughly analyze evidence, such as police reports and statements of eyewitnesses, usually to assess liability with minimum fault to the client for maximum recovery.
Insurance Policy Limits
The compensation an injured party can receive often depends on the at-fault party’s insurance coverage. Attorneys review policy limits to determine available recovery. If the insurance coverage is insufficient, they may explore additional recovery through the at-fault party’s assets or other liable parties. Attorneys also check if the injured party’s own insurance, such as underinsured motorist coverage, can help cover any gaps in compensation.
Legal Precedents and Jurisdictional Factors
Finally, attorneys consider the legal precedents and jurisdictional factors that may influence the claim. Laws and regulations related to personal injury claims can vary significantly by state, and understanding these nuances is crucial for evaluating a claim’s potential value.
For example, some states have damage caps that limit the amount of compensation that can be awarded for non-economic damages, while others do not.
Attorneys also examine how similar cases have been handled in the local jurisdiction and consider the likelihood of success in court. They take into account the specific legal strategies that have been effective in that jurisdiction, the experience of local judges and juries, and any relevant statutes that may affect the claim.
