Discover the top 4 factors that will influence the value of your personal injury claim.
If you have been injured in a traffic accident or a premises accident, you may very well be entitled to have your expenses and suffering compensated by the party who caused your accident. But figuring out just how much compensation you can reasonably expect to receive may be complicated. The best way to get a clear figure in your specific case is to consult an experienced personal injury attorney like Fernando D. Vargas. However, in the mean time you can begin estimating the value of your claim by considering the following 4 important factors.
- Nature of the Damages
- Past and future medical bills
- Care and support during recovery
- Lifelong care
- Lost wages
- Lost earning capacity
- Pain and suffering
- Overall Strength of the Case
- Defendant with Means
- Caliber of Your Attorney
The first factor to consider is the types of injuries or losses the accident has caused you to suffer. This can include expenses for:
By totaling your medical bills and then multiplying by three to represent pain and suffering, you can arrive at a reasonable estimate of your compensation. However it is important to remember that this is just an estimate, not a guarantee. There are many factors that can justify calculating pain and suffering differently or cause a judge to award less pain and suffering than you may ask for.
Obviously, the strength of the evidence in your case must also be considered when valuing your claim. Strong evidence increases your chances of securing a favorable settlement in negotiations rather than in court. This can save you money because there will be fewer legal fees to pay out of your settlement.
In most traffic accident or premises accident cases, the defendant’s insurance company ends up paying your damages. If the defendant does not have insurance, the practical value of your case may be significantly diminished. After all, most individuals do not have savings sufficient to pay out a large cash settlement all at once or even as an annuity. An unemployed and uninsured defendant would be a double dose of trouble for the value of your case.
According to a study from the Insurance Research Council, individuals who retain an attorney to represent them in a personal injury case receive, on average, 3.5 times as much compensation in their settlements than those who represent themselves. So if simply by hiring an attorney you can strengthen your claim, imagine how much good it will do you to hire a 5-star Avvo attorney like Fernando D. Vargas.
