How Does an Insurance Company or Defendant Value Your Case?

One of the most common things that a personal injury attorney is asked is what a victim’s injury is “worth.” That is an understandable question—but one that is very difficult to answer.

Answering the question with “it depends,” sounds kind of like a cop out—but in a way, that is the exact answer. The value of an injury—and by value, we mean what you might end up settling a case for, or what a jury may end up awarding you—are based on a number of factors.

What Would a Jury Do?

Before trial, when value is measured in terms of what, if anything, an insurance company is offering to settle your case, the value of an injury is the product of negotiation between the two sides.

The insurance company (or Defendant directly) will often make an offer to you to settle your case. But that offer won’t be arbitrary—it will be based on what other juries have done or compensated victims, all of whom have had about the same injury or case as you have.

Note we said “about the same.” That’s because no two cases really are exactly alike, even if the facts of the accident are the same. In 20 rear end car accident cases, the injuries may be slightly different, the victim’s prior medical histories may be different, the speed of the car that hit the other car may be different, and the victim him or herself, may be more or less sympathetic and thus likable, to a jury.

Out of Pocket Expenses

Of course, there are factors that attorneys and insurance companies look at, when determining the value of a case. One such factor is your economic, or out of pocket damages. These are things like past and future medical expenses, and past and future lost wages.

Imagine someone so catastrophically injured that he won’t be able to work again. He is 40 years old, and made $50,000 a year. Taking that amount and multiplying it by about 25 lost working years, and that’s one a million dollars just in lost wages.

Of course, the math is never that simple, and this doesn’t mean that a jury is just going to do the math and award the money. A jury needs to be convinced that you can’t work again, that you would have continued to earn that money, and that you didn’t do anything to contribute to your own accident.

Non Economic Damages

All this doesn’t even take into account things like pain and suffering and anxiety or loss of quality of life. These damages don’t have a definitive value, and many insurance companies won’t offer you much for pain and suffering, at least at first. But as your case goes on, and they learn about how your injuries have impacted your life, their opinion often changes.

We can help you present your case as best as possible, to help you get a positive settlement or verdict later on. Call our Boston personal injury lawyers at The Law Office of Joseph Linnehan, Jr. today at 617-275-4200 if a loved one has been injured in any kind of accident.

Sources:

facs.org/advocacy/federal-legislation/liability/guide-to-liability-reform/ending-the-confusion/

law.com/verdictsearch/state/fl/