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How Much is My Case Worth?

Posted by: euser
April 19, 2007
Topic: Minnesota Personal Injury

All experienced personal injury lawyers and insurance companies determine the value of any personal injury case on the basis of what juries have awarded in similar cases. Even though the primary goal is to reach a claim settlement without going to trial, the settlement value of any personal injury or wrongful death claim is determined by comparing the case to other similar cases in which juries have reached a decision in previous court cases.

The process is much like that of the investor who will carefully assess the characteristics of a stock and then compare it against other similar stock in the market that have sold or been bought in the market recently. However, since personal injury cases differ greatly, and much more than stock differs, the process of evaluating a personal injury case is much more difficult.

The most important factor affecting the value of any personal injury case is the nature and extent of the permanent injury or permanent disability. If an injured person makes a complete recovery with little or no permanent damage, the claim is worth far less than is the case where the injured person is left with considerable permanent injury or permanent disability. This is true whether the case is one of a car accident, trucking accident, motorcycle accident, defective product claim, dog bite injury, medical malpractice, wrongful death or drunk driver injury claim.

In the typical case, the nature and extent of the permanent injury or disability cannot be accurately assessed until the healing period is over and the doctors are able to write a medical report stating the amount of permanent injury or disability. Accordingly, it is very difficult, if not impossible, to place a reliable value on a personal injury case until the healing period is over and the doctor has issued his or her final medical opinion. That process often takes more than one year.