There is no magic formula or process by which someone can predict with certainty how much a case is worth. One of the reasons trials are necessary is when the parties cannot agree upon the value of a case. A case is worth the value of the harms and losses inflicted on the person who has been injured. Some are easy to calculate like past medical expenses, future medical expenses, lost earnings, lost earning capacity, and property loss. Harder to calculate are intangibles such as pain, suffering, agony, disability, loss of enjoyment of life, inconvenience, and mental anguish. These are subjective and the value differs among people or jurors who decide the case.
Value can also be difficult to determine because it often takes many months or years before the value of a case can be adequately assessed. One reason is because of the slow progress of the person’s recovery or rehabilitation. Another reason is due to the complexity of the injury or condition which may cause a significant delay in a firm diagnosis by the treating physician. Until you have recovered medically as much as you are going to improve (maximum medical improvement), it is unknown how much treatment you will need and how much it will cost. In most instances, a case should not be settled or resolved until the person reaches maximum medical improvement. The extent and nature of your injuries is one of many factors that are weighed in determining the value of a case.
In many instances, the value of a case is primarily determined by the extent and nature of your injuries. Other important factors include: the type, extent, and frequency of past medical treatment; and the need for future medical treatment. Your credibility and how likeable you are as a witness to the jury also help in determining the value of your case. Other important factors are: the facts of the accident, the extent of your injuries and whether they are permanent, your age, whether you missed time at work, the identities of the insurance company, the adjuster, the defense attorney, specific legal or evidentiary issues in the case, where the case will be tried, and the amounts of settlements and verdicts for similar types of cases that I and other lawyers have handled in the past.
There is no magic formula in valuing a case. Each case has to be analyzed based upon each of these factors in determining the value of the case. Having a knowledgeable attorney is very helpful in determining the valuing your case.
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