For someone who has suffered a personal injury due to the negligence of another, compensation for damages is an important step in getting back to a normal life. Determining the amount of money that could be recovered starts with assessing the value of a case. After filing a case and depositions are taken, it will then enter the mediation process where a third party will help resolve the dispute. Understanding the value of a personal injury case is a critical step during the mediation process as this dollar amount helps both parties determine if a settlement or trial is the best course of action. Depending on the type of case and the sustained injuries, there is a range of factors to consider when calculating the value of a case.
Calculating The Value of Personal Injury Case
The first thing a lawyer will help an injured party determine is the total compensation amount that could be recovered from the defendant. A lawyer will analyze all of the relevant factors to estimate the best possible outcome for their client in each case.
Lawyers will generally use these factors when assessing the value of a case:
- Insurance Limitations – To determine the best result in a personal injury case, a lawyer will look at the insurance policy to determine how much money is available from bodily injury or liability coverage. Insurance policies have limits that state how much the company will pay in the event of a claim.
- Ability to go to Trial – If a case has a high probability of succeeding in court, an insurance company may be more likely to settle beforehand to avoid attorney’s fees and court costs. An insurance company could save money by resolving a case in a settlement rather than proceeding to trial.
- Cost of the Case – The time and cost involved will vary from case to case and is dependent on the complexity and risk of each situation. Legal costs will generally be higher if you go to trial because of the time and work involved with the process. Panter, Panter & Sampedro works on a contingency fee basis, meaning that our team will get paid only when our client recovers damages.
- Impact on the Defendant – There could be a political or social issue that could impact how much a defendant would consider paying out in some instances. The attention a case could bring to a defendant could affect their decision to settle or not.
- Personal Damages – An experienced legal team will know how to calculate medical treatment costs, lost earnings, future lost income, estimated future medical expenses, and pain and suffering related to the injury claim.
Hire Experienced Lawyers for Proper Compensation
The team at Panter, Panter & Sampedro treats our clients like family and works to ensure they understand all aspects of a case, including the factors that help us determine the value. Our team is available to answer your questions and we want to hear your story. Call us today for a free consultation at (305) 662-6178.