How Much Is My Personal Injury Case Worth?
Accidents are common occurrences in many people’s lives. Each year it is estimated that there are approximately 400,000 personal injury cases filed in America. If you have been injured in an accident, it can be incredibly emotionally taxing and financially straining – no matter the type. When a person has decided to file a claim for a personal injury case, it’s not unusual to wonder how much the case is worth.
The process of determining how much a case is worth is complex, and many factors are taken into consideration before a lawyer can give you an estimate. The best way to ensure you receive maximum compensation is to hire an experienced lawyer. A knowledgeable attorney can evaluate your injuries and relatable evidence to estimate how much your case is worth. At the Henry Law Firm, we are dedicated to professionally assessing your case to determine a fair compensation amount.
Guidelines for Proving Liability and Damages for Compensation
When you are trying to determine how much your case is worth, a personal injury attorney will need to prove both liability and damages if your case goes to trial. If liability cannot be established as a primary consideration, you will not be entitled to receive damages or monetary compensation. To obtain fair compensation, robust evidence must be developed to show that another person or company is legally responsible for causing your injuries. On average, only 5 percent of cases will go to trial as approximately 95 percent of personal injury cases reach a settlement agreement outside of court.
It’s your decision whether the case goes to trial, and your lawyer will advise you as to whether you should accept a settlement. However, the decision to settle the case is yours alone. A settlement is the amount you are comfortable accepting to forego a trial. Most people opt to accept a settlement as a trial has many risks, which could lead to receiving minimal or no compensation if the jury does not side with you.
An experienced personal injury attorney will evaluate all relatable evidence and estimate your case’s value. Your lawyer will predict how likely it is that you win your case should you opt to go to trial as well as any compensation awarded by the jury.
Determining the Value of Your Case
Your lawyer will evaluate your unique case along with these factors to give you an idea of how much your case is worth. Below are a few common factors utilized by attorneys today to determine your case’s outcome and worth:
- Medical bills and accounts related to injuries received during the accident
- Receival of prompt medical attention from professional service providers
- Emotional trauma, including pain and suffering, experienced since the accident
- Loss of past, present, and future earning potential
- Severity, condition, and impact of injuries received during the accident
- Severity of accident and substantial proof against at-fault party
- Cost estimates of future medical treatment (physical therapy, psychological consultations)
- State tort caps or limitations on damages associated with personal injury cases
Understanding Comparative and Contributory Negligence
Although the factors mentioned above will largely determine your case’s value, you should also account for how comparative and contributory negligence could affect your case’s worth. Your actions could harm the outcome of your case and the damages you receive. It’s essential to be aware that Ohio law is based on comparative negligence law similar to other states.
- Comparative negligence: If you are found to be partially to blame for your injuries or the accident you were in, this is comparative negligence. Comparative negligence affects the amount of money received in settlement, both outside court and in trial. For example, if you are found to be 30 percent at fault, you will be responsible for 30 percent of the damages, while the other party would be responsible for 70 percent of damages. If the jury awarded you $100,000 – you would only receive $70,000 (or 70% of the verdict). However, if you are found to be more than 51 percent at fault, you will not receive any compensation.
- Contributory negligence: Unlike Ohio, other states follow contributory negligence law. In these states, if you are found to be partially to blame for your injuries or the accident you were in, you will not be entitled to any compensation.
Why Will Insurance Limits Affect the Worth of My Case?
Insurance limits play a significant role in the amount of money you receive during settlement. In most personal injury cases, the at-fault party’s insurance will be responsible for covering the cost of your damages. Although insurance may be responsible for these costs, insurance will only pay up to the amount of its policy limits. For example, if your case is worth $30,000, but the insurance policy is only $25,000, insurance will only pay $25,000.
Your lawyer will advise you of your options in this event. Strategies can be pursued against an insurance company to hold it responsible for amounts beyond its policy limits. A company or individual may be collectible separate and apart from an insurance policy. Your lawyer’s first order of business when confronted with a possible limits issue is to investigate the matter thoroughly to see if any other insurance policies to include umbrella policies and excess coverage are available to compensate your loss.
Typical Compensation Amounts for a Personal Injury Claims
How much you receive for your case depends on the previously discussed factors, including your insurance limits and if you were partially at fault for your injuries. It is estimated that most people receive a monetary settlement ranging between $3,000 to $25,000. However, every case is different, and at the Henry Law Firm, we have obtained over a million dollars for some clients.
Those with more severe injuries often receive higher settlement amounts. To establish how much your case’s estimated worth, you need to talk with a personal injury lawyer. We offer free, no-commitment consultations to discuss the strengths and weaknesses in your case as well as projections on possible settlement and jury verdict values.
Contact an Ohio Attorney Today to Discuss Your Case
If you have been injured in an accident, you are likely suffering financially and emotionally, and you’re likely unsure of what to do next. Determining your personal injury case’s estimated value is always essential, and compensation will assist you with your recovery. An Ohio personal injury lawyer can help you uncover how much your case is worth. We aim to evaluate every aspect of your case to determine how much it is worth and your odds of winning should your case go to trial. We also help you reach a fair settlement agreement quickly and efficiently, so you can get your life progressively moving forward again. Contact Henry Law Firm today to discuss your options.