HOW MUCH IS MY CASE WORTH?

HOW MUCH IS MY CASE WORTH?

Short answer:
WHATEVER AN INSURACNE COMPANY AGREES TO PAY AND YOU ARE WILLING TO ACCEPT OR WHATEVER A JUDGE OR JURY AWARDS AT TRIAL.

Long answer:
Your case involves what we call special damages and general damages. Because of that, there’s no set amount that your case is worth. We rely on past settlements and verdicts to get a range for what typical injuries are worth as it relates to general damages.

Special Damages
Under special damages, you have past, present and future medical bills. You also have past, present and future loss wages and loss of earning capacity. Those damages are easiest to calculate. For example, if your medical bills are $5,000. The insurance company must pay $5,000. Let’s assume you also have lost wages totaling $2,500. Now, instead of them only having to pay $5,000, they must now pay $7,500.
Special damages are damages that we are able to readily calculate and put a precise figure.

General Damages
Under general damages, you have pain and suffering, emotional distress, loss of enjoyment of life, loss of consortium, among others. These damages are hard to calculate. Using the example from above, we now know the client has suffered from a torn rotator cuff. We know that since he had $5,000 in medical bills and $2,500 in lost wages, the insurance company must pay $7,5000. What about the injured shoulder? Well, there’s no book that says a torn rotator cuff is worth $20,000. Instead, we rely on quantum, which is a collection of past settlements and/or verdicts. Let’s say in the last five years, juries have awarded $15,000, $20,000, $20,000, $30,000 and $50,000 for general damages relating to torn rotator cuffs. We use that data, in conjunction with your medical records, diagnosis and prognosis to determine an upper and lower value for the injury.
We may think that $50,000 sounds good. In fact, we may think your medical records call for $50,000 for general damages, that is on top of the $7,500. The insurance company may however believe the value is $15,000 for general damages on top of the $7,500. In fact, some insurance companies may think it’s worth $15,000 total.
It’s our job to demonstrate to the insurance company why your case is worth a particular value and the only way to really determine the value is from relying on past judgments and settlements along with reviewing the medical records and talking to the client.

Conclusion
Due to general damages being imprecise, your case value depends. You may have some insurance companies that don’t want to risk ultimately going to trial and paying $50,000 in general damages, $7,500 in special damages, court cost and the cost of hiring an attorney and just pay the top value we are requesting. On the other end, you may have an insurance company who doesn’t mind taking the risk and refuse to pay a reasonable amount.
No matter what we may think is a fair settlement, the insurance company may disagree. In that case, you are forced to file suit and take the matter to trial.

Overall, the short answer is your case is worth whatever the insurance company agrees to pay, and you are willing to accept or what a Judge or Jury will award at trial. We are confident that if your case proceeds to trial, we can get you the values dictated in the quantum research. Trials can take years to happen. If an insurance company offers $15,000 total on the above fact pattern and you request that your attorney accept the offer than that’s what your case is worth. If you are unwilling to take your case to trial, you are essentially at the mercy of the insurance company value.
You must be willing to make them pay through a Judge or Jury, only then they will change. If they believe you are unwilling to wait it out or desperate, they will make lowball offers and hope you accept it.

CONTACT A NEW ORLEANS PERSONAL INJURY ATTORNEY FOR MORE INFORMATION

If you have been injured in an auto accident, you should have a New Orleans lawyer represent you. After an accident, knowing how much your case could be worth isn’t readily available. An experienced lawyer from The Burrell Firm LLC can advise you and help you determine how much your case is worth.
Call us today at (504) 533-0006 to schedule a free initial consultation.

CONTACT A RUSTON PERSONAL INJURY ATTORNEY FOR MORE INFORMATION

If you have been injured in an auto accident, you should have a Ruston lawyer represent you. After an accident, knowing how much your case could be worth isn’t readily available. An experienced lawyer from The Burrell Firm LLC can advise you and help you determine how much your case is worth.
Call us today at (504) 533-0006 to schedule a free initial consultation.

CONTACT A MONROE/WEST MONROE PERSONAL INJURY ATTORNEY FOR MORE INFORMATION

If you have been injured in an auto accident, you should have a Monroe/West Monroe lawyer represent you. After an accident, knowing how much your case could be worth isn’t readily available. An experienced lawyer from The Burrell Firm LLC can advise you and help you determine how much your case is worth.
Call us today at (504) 533-0006 to schedule a free initial consultation.

2019-02-04T09:42:15+00:00 February 4th, 2019|