What Is My Claim Worth?
If you have suffered a personal injury, you may be wondering, “What is my claim worth?” After all, if you are going to go to file a lawsuit or go to court, you want to make sure that it is a good use of your time and energy. At Greenstein & Milbauer, LLP, we can help you determine whether or not you have a case and what your claim may be worth during a free consultation. While there is no way to tell with absolute certainty what you might get, we have been doing this long enough to tell what range you could fall into.
Is There a Magic Insurance Formula to Calculate What a Claim is Worth?
The theory of a magic or secret insurance formula is part urban legend and part truth. The insurance company provides its claims adjusters with a range of how much money they are allowed to offer in order to settle claims. These offers are not made right away but come through the negotiations process. Their job is to keep your payout as low as possible but no matter what, to not go over the allowed amount. In this way, the magic formula is only magical if you are okay with a potentially lower, pre-set amount. As an attorney, we work to maximize your settlement offer, which often means working with their supervisors or going to court.
How to Value a Personal Injury
To determine the value of your claim after a personal injury, you should first look at the amount of any medical bills you have had to date. Any medical expenses associated with your injury should be calculated. Your doctor will need to let us know whether you will make a full recovery or need ongoing care. If you will need care, we need to know what that is and how much it is likely to cost, so it can be included in what we try to get settlement-wise. We will then add in the cost to repair your property and any wages you have lost due to seeking treatment or not being able to perform your job duties. Added together, this should represent the value of your case.
Don’t Forget Negligence
In order for your case to have any value, someone else needs to be found negligent. Before you ask, “what is my claim worth?” consider who was to blame for the accident in the first place. Was it an individual, a business, a colleague, a nonprofit, etc.? This other party needs to be found more negligent than you in order for you to qualify for financial damages. In other words, you cannot be the cause of the accident and then sue for money.
Schedule a Consultation
To discuss your case in detail, schedule a free initial consultation. You can do so by calling 1 (800) 842-8462 or clicking here.