Calculating the dollar value of a personal injury claim can be difficult. Since the circumstances of each case are different, there is no set formula attorneys can use for every case. However, our attorneys always consider certain factors when determining the value of a personal injury case.
What factors might affect the value of a personal injury case?
The same accident can result in different injuries for different people involved in the accident. Seemingly identical injuries can take a longer or shorter amount of time to heal in any particular person, based upon a multitude of factors. An injury from which one person might make a full recovery can cause permanent impairment or disability in another person. These and many other factors will affect the value of your personal injury claim.
To determine the value of a personal injury case, we identify all the factors, evaluate the circumstances, and apply an informal “yardstick” to determine an appropriate range for the settlement amount.
There are three “yardstick” methods we might use, depending on the circumstances of the case: multipliers, a per diem rate, and the BASE formula.
What should a personal injury claim settlement include?
To determine the value of your personal injury claim, our lawyers will look at how your injuries have impacted you. We will ensure your settlement includes:
- Medical bills from the day of the injury, any immediate medical treatment, follow-up treatment, therapy, rehab, long-term care, therapy, etc.
- Lost wages
- Lost earning capacity
- Property loss or damage/repair
- Long-term impairment or disability
- Short-term or long-term disfigurement
- Pain and suffering
Will being partially at-fault affect a settlement?
Yes. If a driver is partially at-fault for an accident, his/her fault will decrease the value of the settlement. For example, if the victim was speeding through an intersection when a car turned left into his/her path, s/he might share the blame for the accident. If the insurer found the victim 25 percent responsible, s/he would only be able to recover 75 percent of the settlement demand.
How can victims determine how much their case is worth?
Every case is different. There is no one tried-and-true method that is best for all cases. To determine how much a case is worth, injured victims can call the Richmond car accident attorneys at Tronfeld West & Durrett for a free consultation today: 804-358-6741.