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How to Determine the Value of Your Case?
One of the most common questions that clients have when pursuing a personal injury case is what the case is going to be worth when all is said and done. You should be wary of attorneys who are quick to give you an answer to this question because there are many things that need to be reviewed and taken under consideration before a value can be calculated. It is not so simple as plugging numbers into a settlement calculator. Following is how we determine the potential value of our clients’ cases so that you can have a clearer understanding of what your case might be worth.
Factors That Influence Case Value
When we set out to determine the value of your case, these are some of the most important factors that we will consider before giving you a rough estimate.
- Where did the accident or injury occur? This is important because of factors such as court venue and the laws within that jurisdiction. Some areas may be more favorable for injury victims and award higher settlements while other counties may have jurors that are more likely to throw the case out entirely.
- What type of accident occurred? Some types of accidents are more likely to result in large settlements than others. This is not always fair, but it is an unfortunate reality. This is in part due to previous judgements that have set precedent in the past. A case against a truck company or a large manufacturer may produce a greater settlement offer than a typical car accident, for example.
- What type of insurance coverage does the defendant possess? This is really important because it is impossible to collect compensation from someone who is unable to pay. If the person who is at fault only has the state minimum liability coverage and no assets, you will only be able to collect what the person’s insurance covers.
- Does the defendant have any assets? This makes it possible to pursue additional compensation if insurance coverage is not sufficient to cover your economic damages.
- What were your medical costs? Medical costs are comprised of what you’ve already paid and what you will pay in the future. It is easier to justify the value of your existing bills than to estimate the cost of bills in the future, even though we have access to professionals who specialize in predicting the total cost of your recovery.
- Were you unable to return to work? If so, we can add the loss of your wages to the damages when calculating the value of your case.
- Did the injury change the quality of your life? Things like disfigurement, permanent injury and the loss of limbs can affect the value of your case. Clients are likely to be awarded more money to compensate the loss of enjoyment of their lives or drastic changes to their quality of life.
Beware Those Who Oversimplify the Process
We wish that we could talk to our clients and give them a number during our first meeting when they ask for the value of their cases. However, attorneys that do this are generally to be avoided. Providing an accurate assessment of your case’s value is going to require more time and effort than that and you deserve for us to put forth that effort on your behalf.
It is important that you are also wary of any lawyer who is not realistic in his or her assessments. When seeking damages on behalf of our clients, we must expect compensation that is fair and equal to the costs that our clients have shouldered. This means that you shouldn’t expect $1 million if your economic damages only total $50,000. We will seek the maximum amount of compensation the law allows, but will never get your hopes up with unrealistic expectations.
Learn More During a Free Case Review
Rosenfeld Injury Lawyers is the leading personal injury law firm in the Chicagoland area. If you have been injured in an accident, we would like to invite you to contact us for more information about your legal rights and options. We will take the time needed to investigate your case so that we can give you an accurate assessment of its value and what you can expect.
We have helped thousands of clients recover the compensation they deserve for their injuries and are confident that we can do the same for you. This is why we guarantee all of our clients that unless we are able to collect compensation on their behalf, our services will be free of charge. Call us today to arrange your free case review with one of our award winning Chicago personal injury attorneys.