Probably the first question that almost every client asks a lawyer after a personal injury is, “How much is my case worth?” That isn’t surprising. When someone seeks a lawyer for a civil case, it usually means they want monetary compensation. Most lawyers try to answer this question right away. Unfortunately, there is only so much they can do. There is no perfect personal injury settlement calculator. However, the following are factors that we use for our personal injury settlement calculator at The Joel Bieber Firm.
Personal Injury Settlement Calculator: Fault
The first factor our law firm considers is fault. You can only take legal action against another if they are at least partially responsible for your injuries.
Every state has different rules about fault. The most strict states only allow you to sue if you didn’t contribute to your injuries in any way. The least strict states let you sue even if you are mostly responsible for your injuries.
Your personal injury attorney will collect evidence to determine fault in the case and compare that to the state’s laws regarding negligence.
Personal Injury Settlement Calculator: Economic Losses
The next factor to consider is what economic losses you are facing. Economic losses are any money you spend, will spend, or won’t receive because of your injuries. Common examples of economic losses are:
- Medical bills
- Lost income
- Services you require because of your injury, like childcare assistance
- Occupational, physical, or mental therapy
- Purchases required due to your injury
Your lawyer will estimate the value of these losses based on the severity of your injury and what job you have. Experienced lawyers can usually determine this value quite accurately, even if you need a lifetime of medical treatment.
Personal Injury Settlement Calculator: Non-Economic Damages
Most personal injury cases also involve non-economic damages. This represents compensation you receive for your pain and suffering. While you can’t produce a receipt for a year’s worth of pain, you may deserve compensation for that suffering.
There are several ways for a lawyer to determine this value. Typically, your lawyer will multiply your economic damages by a number between two and five to determine the value of your non-economic damages.
The Insurance Company Complicates Your Settlement
Unfortunately, a settlement requires two parties to agree. The other party is usually an insurance company, and insurance companies are notorious for fighting you every step of the way.
The best way to get the settlement you deserve is to produce lots of evidence. It is not in insurance companies’ best interests to go to trial. That is why they settle personal injury cases. If the insurance company’s lawyers believe they will lose at trial, they will settle.
Your lawyer may be able to convince them that you will win at trial by showing them all the evidence they collected. Since your lawyer would have to share that evidence if the case went to trial, you don’t lose anything from this. It might convince the insurance company to agree to your demands.
Also Read: Difference between Settlement and Trial
You Benefit Even With Lawyer’s Fees
While lawyer’s fees will eat into your settlement, you will typically get more money if a lawyer represents you. Lawyers have experience dealing with insurance companies and know how to get high settlements. Most people earn more money from a lawyer’s negotiated settlement, even after legal fees, than they get without help.
Contact Our Law Firm for Personal Injury Claims
If you believe you have a personal injury claim, you should speak to an attorney as soon as possible. The earlier you talk to a lawyer, the more money you are likely to get. Contact The Joel Bieber Firm right away to discover what your claim is worth