There is no one set formula anyone can use to determine exactly how much your personal injury case is worth. The ultimate value of your claim depends on several factors.
A personal injury attorney may be able to estimate the value of your case based on what claimants with similar cases have received in the past. The approximate value depends on several factors:
Generally, the more extensive your injuries are, the more compensation you will receive for medical bills, lost wages and pain and suffering if you win your case. If your injuries result in permanent disability or disfigurement, you may receive additional compensation.
To receive compensation, you must be able to prove that the other party caused your injury through negligence or a breach of duty. Additionally, the specific circumstances of your accident will determine which laws apply to your case that can impact the value. The stronger the evidence you have to support your claim, the better chance you have of recovering damages. If the evidence supporting your claim is weak, the other party may offer you a lower settlement amount or force you to prove your case in court. If the other party was grossly negligent, you may be entitled to collect both compensatory and punitive damages.
A large potential settlement won’t do you much good if the at-fault party has no ability to pay the settlement. Unless the at-fault party is a wealthy company or individual, the maximum amount you can recover will likely be the limits of the at-fault party’s liability insurance. However, if you have your own applicable insurance coverage, you may receive additional compensation from your insurance company. You can not collect for the same damage more than once, but your insurance can cover damages not paid for by the other party if they are uninsured or underinsured.
Many factors go into the ultimate value of your personal injury claim. A personal injury attorney can help you gather evidence, determine the financial resources of the other party, secure expert witnesses and determine whether you may be entitled to punitive damages. If you need help estimating the potential value of your personal injury claim, contact a personal injury lawyer from Wieand Law Firm LLC.
