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How Much Is a Personal Injury Case Worth?

Posted on June 26, 2020 in Personal Injury

A common question plaintiffs ask during personal injury claims is how much their cases might be worth. The value of a claim can be critical for the victim and his or her family. It can determine whether the plaintiff will be able to pay off his or her debts and move forward comfortably after a serious accident. Every personal injury case is unique. The only way to receive an accurate representation of what your claim might be worth is with a consultation with a Los Angeles personal injury lawyer.

What Is The Average Personal Injury Settlement?

An average settlement amount for a personal injury claim in California does not exist. It is impossible to calculate an accurate average due to the wide range of settlements and verdicts achieved for clients. Some clients will recover $10,000 or less via insurance settlements while others receive multimillion-dollar judgment awards. An average amount would not accurately represent what an individual plaintiff could receive for his or her specific losses. Instead of searching for averages, contact an attorney for a personalized evaluation of your unique claim. That is the only way to get an accurate depiction of the potential value of your case.

What Damages Are Available?

While there may not be an average personal injury case value, there are ways to estimate what your case might be worth. Start by creating a list of all compensable economic and noneconomic damages you suffered in the accident. Compensable damages can refer to the actual damages incurred, such as medical bills and lost wages, as well as intangible losses, such as physical pain and emotional suffering.

• Past and future health care expenses
• Lost wages
• Losses related to a permanent disability
• Pain and suffering
• Mental anguish
• Property damages
• Out-of-pocket costs
• Travel expenses
• Punitive damages

Write down all the general and specific damages you can think of connected to your recent accident. Gather evidence supporting these losses, such as pay stubs, medical records, hospital bills, insurance statements and property repair estimates. Then, contact an attorney for an accurate estimate of your case’s value.

What Factors Impact The Value Of A Claim?

Economic damages are easier to calculate than noneconomic. Obtain an accurate portrayal of the value of your economic damages based on the real damages you incurred. Noneconomic damages, however, can be more difficult to estimate. You and your lawyer can go over several factors that may impact the worth of your case together.

• The severity of your injuries and how they affected you. In general, plaintiffs with more serious injuries will have higher-value claims.

• The defendant’s ability to pay. Some defendants will be unable to pay the full award granted, leading to smaller recoveries for plaintiffs. A lawyer can help you search for additional defendants to improve your odds of recovering.

• Tactics employed by an insurance company. Insurance companies may try to decrease the values of settlements through strategies such as denying benefits unfairly. Hiring a lawyer to combat these tactics could optimize your recovery award.

• Comparative negligence. An argument as to your portion of fault for the accident could reduce your recovery award. If you were 15% responsible, for example, you would receive 15% less for your damages.

• Pre-existing injuries. A pre-existing injury could present a reason for an insurance company to deny your claim or offer less compensation. A lawyer can help you fight for fair compensation based on your medical records and history.

Discover the potential value of your personal injury claim by consulting an attorney. A personal injury attorney can review the facts of your case, collect evidence and help you understand how much your claim might be worth. Then, your lawyer can take over settlement negotiations or take your case to trial on your behalf to fight for maximum compensation.