There are so many times when someone says something to me about their friend settling her accident case ten years previously for a certain amount. Then they tell me that if she got that much for her case, they feel entitled to at least that sum for their claim. Is that a proper measure of value for a case? It is not. A person should really look to the details of their own case to identify the key issues which determine the value for their case. Thereafter, case comparisons in a broader sense, over multiple cases, and over an extended period of time can provide some direction.
Each case is individualized making it impossible to do one-to- one comparisons between cases. Each injury will be unique such that one person may suffer a long-term lower back injury, while another, in the same accident, was minimally injured. Even though these two people were involved in the same accident, the value of their claims will be significantly different. So one factor in determining the value of a person’s claim is the severity of the injury.
Another factor in determining the financial value of a claim has to do with the nature of the accident itself. Some accidents are extremely severe, leaving no question the individual suffered a serious injury. Other accidents are less serious and the injuries from these accidents are challenged by the opposing party.
A third factor has to do with the responsibility for the accident. If an injured person was partially responsible for the accident, then her fault will proportionately reduce the value of the case.
Fourth, is the amount of available insurance or assets to cover the claim. If available insurance is minimal, even with a serious accident, there may be limited funds to pay for the injuries suffered.
Don’t compare your case with anyone who has had an accident. Facts differ and each case will vary the financial value