Ahhhh yes….. the most common question we receive at Davis Law Group, when it comes to representing accident victims who pursue claims for compensation as a result of personal injury. That is the $64,000 question.
Sorry to disappoint but…… my stock answer is usually, “It depends…” Depends on what? Well, many things really. In any given claim there may be one or two dozen factors that may affect value. Here’s a partial list:
- Extent of injuries – Are they permanent or only temporary? Obviously, a permanent injury represents a greater value than if the injury eventually resolves.
- Cost of care – How much treatment have you received? A person that needs medical care for the rest of his or her life will have a much bigger claim then if the person only needs care for 6 mos.
- Effect of injuries – Are they catastrophic and/or life-changing? Or can the person do everything he or she could do before the accident?
- Facts of accident – Was the accident severe and dramatic, or was it a minor fender-bender with not much visible damage to the vehicle?
- Is the injured person likeable, trustworthy, and will make a good witness? I always tell my clients that juries have an easier time awarding high damages to people they respect, admire and like.
- Pre-existing medical history – Did the victim have a non-existent medical history so I can more easily prove that the subject accident was the sole cause of the injuries and ongoing complaints? Or does the victim have numerous prior and similar injuries or symptoms before the accident so a defense attorney can raise serious questions about whether the accident was the cause?
These are examples of the most common factors that can affect the value of a personal injury case. But there are many others. Because there are so many variables that go into an evaluation of a personal injury claim, no two cases are alike. That means two cases that appear to be similar or identical on the surface (same injury, same treatment, etc.) can actually produce widely different settlements or verdicts.
As a lawyer who routinely evaluates personal injury cases, I can also tell you that it may take time to determine the real value of a case. Some injuries can take months or years to resolve, or before a person reaches maximum medical improvement. I may not have a firm handle on the value of a claim until the person goes through many months or years of treatment. Often times medicine is a slow process of ruling out potential or competing diagnoses. Some injuries just take time to resolve.
Contrary to popular belief – THERE IS NO FORMULA one can use to determine the value of a personal injury case. Some people think you only have to multiply the medical bills by a factor of 2.5 or 3 (or any number) and that’s how you come up with value. I wish it were that simple. Come to think about it, if it were that simple I’d be out of a job. There would be no use for an attorney because you and the insurance adjuster could merely use the formula and then settle the case. It just doesn’t happen, not unless the adjustor convinces you that some formula does exist. If that happens, the adjustor will use the “formula” to produce a very low settlement offer with the hope you’ll accept it. I have seen adjustors use a “formula” in an effort to show the victim that the settlement offer is “fair” and “objective.” Some people fall for it. Many don’t.
To sum it up, no one really knows the true value of a case, unless it’s the jury who hears all of the evidence and makes an award at the conclusion of a trial. Unless that happens, the attorneys and insurance company try to predict how a jury will see the case and then assign a settlement value less than this number. It really is somewhat of an art, and it takes a lawyer who’s gone to trial several times to really gauge how juries decide injury cases, and it also helps when trying to predict how a judge might rule on the common legal issues involved in personal injury cases. A judge has an enormous amount of discretion when it comes to deciding which evidence comes in, and what stuff stays out. So a lawyer who has tried cases and argued motions before a judge will have a better idea on what evidence may likely come in or out in any given case.
If you want to know the likely value of your personal injury case, you should use a professional. This is especially true if you have a bigger claim, or if you have injuries that are fairly severe, lasting months, and/or when the medical bills exceed a few thousand dollars. Don’t take chances by damaging your case based on statements you make to the adjustor, or by settling the case for an amount that is far less than what may be fair and reasonable given the facts of your claim.
on Dec 28th, 2009 at 6:45 pm
This is a useful, helpful article for people who have been injured and are wondering if they have a case, and, if so, what is it worth?