How Much Is My Personal Injury Case Worth?
As experienced personal injury lawyers, “How much is my case worth?” is one of the most frequently asked questions we hear from our clients. Of course, there is no concrete answer to this question at the beginning of a personal injury case. It takes time for a personal injury lawsuit to develop, and only then can a skilled personal injury attorney provide a more accurate estimate of the claim’s value.
How can wrongfully injured claimants gain a better understanding of how much their personal injury case is worth? Keep reading to learn more about calculating the value of personal injury claims in New York State.
Determining the Value of Personal Injury Claims
A qualified personal injury lawyer will refrain from providing clients with an estimated claim value until the timing is appropriate. When it comes to calculating case value, our firm strives to provide our clients with three distinct ranges:
- Minimum Range: We inform the client that if the offer is below a certain value, they should reject it because it is not fair and consistent with similar cases.
- Maximum Range: We then specify a higher range, informing the client that if the offer is above a certain number, we recommend taking the offer.
- Middle Range: Finally, we specify a middle range for the client. If the offer lies somewhere in between the aforementioned ranges, we'll work closely with the client to determine the pros and cons of selecting a trial vs. settling the case.
4 Factors Used to Valuate Personal Injury Claims
Generally, a personal injury case is valued based on the following criteria:
- Extent of injuries: The severity of the client's injuries and the impact on their daily life can significantly influence the case's value.
- Medical expenses: The total cost of medical treatments, including past and future expenses, is a crucial factor. Often, these expenses are paid by insurance, but the amount paid is still important. Significant medical expenses often go along with significant injuries.
- Lost income: Lost income and business opportunities can be major factors in a client's claim. If the client has missed work due to the injury, their lost wages and potential future income loss should be taken into account.
- Pain and suffering: If there is no economic loss (such as lost wages), the biggest part of a case is often the pain and suffering that the client has endured in the past and can reasonably expect to endure in the future.
It’s important to remember that the above criteria are only significant if 1.) there is insurance to pay the claim, and 2.) we can successfully prove that the other party’s negligence resulted in your injury.
Contact a Trusted Personal Injury Lawyer in New York
From car accidents to premises liability claims, our skilled personal injury lawyers have extensive experience representing the wrongfully injured throughout Nassau County. If you were wrongfully injured due to someone else’s negligence in New York, look no further than the superior representation offered by Foley Griffin, LLP. With over 25 years of experience, you can count on our knowledgeable advocates to demand justice and maximum compensation on your behalf.
Wrongfully injured in New York? Our personal injury lawyers can fight for the full compensation you deserve. Call (888) 966-8480 to request a consultation.