One of the most common questions attorneys hear from clients is, “What is my case worth?”
It is often difficult to initially determine, but factors that play a role in a final financial outcome include the details of the accident itself, the extent of any injuries, evidence, and insurance coverage, including the policy of the person liable for your injuries and damages.
Those who are seriously injured in an accident or those who are filing suit on behalf of family members who have died as the result of an accident are likely to receive a higher settlement, based on:
Initially, insurance companies and personal injury attorneys will use a standard formula to determine a settlement that reflects how much money the injured party would accept in order to avoid taking further action against the party at fault.
That number is generally determined by both the attorney for the plaintiff and the opposing party’s insurance company. If the numbers are close, negotiations are more likely to be successful. The far apart the numbers are, however, the more likely a personal injury lawyer will gather evidence to determine whether or not there is a good chance that the case will be successful at trial.
There are a variety of different factors that go into calculating your final settlement. One commonly used formula takes total expenses (medical expenses, property damage, lost earnings, and future lost income as well as estimated future medical expenses) and multiplies that figure by either one or one and a half to get an estimate of non-economic damages, also known as pain and suffering, which could be added to economic losses for a final settlement total.
To get an estimate that will give you a general idea of what kind of number your attorney and the opposing insurance companies might be talking about, consider the following expenses:
At the heart of a car accident injury claim is the injury itself. Generally speaking, the more serious the injury, the more compensation the victim is subject to collect from the at-fault party. There may be ancillary injuries as well, and they should also be considered. The more complex the car accident and the resulting injuries, the more difficult it can be to ascertain the value of a claim without the help of a skilled car accident lawyer. Our auto accident lawyer in Atlanta at Butler Kahn has handled very complicated injury cases, and this experience is invaluable for our clients.
Victims of car accidents often do not realize how many of their injury-related damages are eligible for inclusion as compensatory damages. These costs can quickly add up. With the help of our car accident lawyer, you may be able to file an injury claim with the appropriate insurance company with the reasonable expectation of receiving substantial compensation. The more valuable the injury claim, the more likely the victim will experience pushback from the insurance company which will do everything in its power to avoid paying out a large sum of money. In the most extreme cases, some insurance companies have been known to delay paying a claim until after the injury victim passes away. Our Atlanta auto accident lawyer at Butler Kahn is as aggressive as necessary when fighting for the best interests of our clients. When necessary, we will take an insurance carrier to court to force them to pay a fair settlement in a timely manner.
As mentioned, the value of a case will be determined by the damages sustained by the victim. The types of damages, the extent of the damages, and the costs to repair or replace the damages will all be considered by your auto accident lawyer that Atlanta victims can trust. The summation of this information is what will be used to assess the value of your injury claim. The average or actual costs of the following will be assessed as damages. Here are examples of some of the questions you may be asked in relation to your injury or injuries from the car accident:
If you would like to talk with an experienced Atlanta auto accident lawyer to determine the value of your injury claim, call Butler Kahn to request a free consultation today!
Various factors are used in determining the value of a personal injury case, including the following:
The two most common methods for calculating the value of a personal injury case are the per diem and multiplier methods:
The cost of medical treatment varies depending on the type and severity of the injury. Here are some examples of treatment costs for different types of injuries:
In Georgia, personal injury claims can involve three types of damages: economic, non-economic, and punitive.
Economic damages refer to the monetary losses suffered as a direct result of the injury. The compensation aims to restore you to your financial position before the accident. These damages typically include:
Non-economic damages are non-monetary losses you have suffered because of the accident. They compensate you for the intangible harm you have suffered. These damages can be more challenging to quantify and may include:
Punitive damages punish the at-fault party for particularly egregious conduct. The court might award punitive damages in addition to economic and non-economic damages. These damages serve as a deterrent to others who may engage in similar behavior. To qualify for punitive damages in Georgia, the defendant must have acted with intentional or willful misconduct, malice, fraud, wantonness, oppression, or similar motives.
There is currently no cap on economic or non-economic damages in Georgia for personal injury claims. However, most punitive damages are capped at $250,000.
The statute of limitations establishes the time limit within which you may file a lawsuit. In Georgia, the statute of limitations for personal injury claims gives you two years from the accident date to bring suit. You may lose your right to seek compensation in civil court if you do not file a lawsuit within two years of the accident.
If you are visiting our website because you have suffered injuries in Georgia, we hope you are receiving the medical attention you need and are on your way to recovering your health. We also hope you have found the information in this blog useful. The team at Butler Kahn wants to help in whatever way we can. Feel free to call or contact us online if you would like to discuss your situation free of charge.