How Do I Know How Much my Los Angeles Personal Injury Settlement is Worth?
“How much is my case worth?”
One of the most common questions asked by those thinking about filing a personal injury claim is “How much is my case worth?” The amount sought during settlement negotiations depends on a host of variables, including the severity of the injuries you experienced, the intrusiveness of the treatment required to recover from your injuries, the length of your recovery, your pain and suffering, and the impact on your ability to enjoy life. If you were in a car accident, the severity of the impact will also be considered.
How Many Personal Injury Cases Go to Trial in Los Angeles?
Just like the rest of the country, very few personal injury cases are heard in an actual Los Angeles courtroom. The truth, though, is that about 97 percent of such cases are settled out of court.
How Do I Determine the Value of My Los Angeles Personal Injury Case?
Each case is unique, and will have its own characteristics. However, your personal injury lawyer should know how to calculate an appropriate amount on your behalf.
Here are the issues they will most likely consider.
- Injuries you experienced. This can include concussions, traumatic brain injuries (TBIs), broken bones, soft issue injuries, whiplash, etc. Also considered are any out of pocket costs you’ve already covered for medical bills, ambulance transportation, any specialized medical equipment, future treatment costs, etc.
- Economic injuries. If your ability to earn a living has been impacted by the accident, you can be compensated for the loss. This includes lost wages you’ve already experienced as well as a decreased capability to earn in the future.
- Pain and suffering. Calculating this can be a bit tricky because there’s no specific rule for everyone to follow. However, two general methods can provide a guide.
- With the Multiplier Method, the hard figure numbers for your bills and property damage are calculated. That sum is then multiplied by a number between 1.5 to 5. The multiplier is determined based upon the seriousness of your injuries.
- Using the Per Diem Method, a certain dollar amount is given for each day until you’ve fully recovered from your injuries.
- Property damage. The costs of replacing your property (vehicle, home, etc.) or repairing it are figured into your settlement requirements.
- Wrongful death damages. If a loved one lost their life because of the accident, you could be compensated on several fronts, including loss of financial support, funeral expenses and loss of consortium.
How Do I Know When to Settle My Los Angeles Personal Injury Case?
If you’re not a lawyer, the legal landscape can be a completely different environment that what you’re accustomed to. Your personal injury lawyer, though, will have an understanding of your wishes and needs. When a settlement meeting those needs is offered, it may be in your best interest to accept it.
What Are the Advantages of Accepting a Settlement Offer for My Los Angeles Personal Injury Case?
There is a variety of benefits to accepting a settlement.
- You get your money much faster. While jury trials can stretch for months before reaching a verdict, a settlement assures you that you’ll have your money once all the necessary documents are signed.
- Your stress levels are greatly reduced. Rather than worrying about how a judge or jury will rule, all the stress of negotiations is handled by your lawyer.
- Details of your case remain private. If a settlement is reached, you can be assured the details will not be published.
If You’ve Been Injured by Someone Else, Call the Los Angeles Personal Injury Lawyers at Sina Rez Law.
Make no mistake, insurance adjusters are professional negotiators whose only goal is to convince you to take as little money as possible – and do so as quickly as possible. They want to minimize their losses and move on.
We don’t let them get away with it, though.
Here at Sina Rez Law, we’re proud of the reputation we’ve earned for taking on some of the world’s biggest corporations – and winning.
Because we operate on a contingency fee basis, we’re very selective of the cases we take on. If we agree to take your case, it’s because we’re confident we can win.
Free case evaluation.
Speak with a top-rated Santa Monica Personal Injury lawyer today to understand your rights before they expire. Time is of the essence.