How Do Attorneys Calculate the Expected Value of a Personal Injury Claim?

If you have sustained a spinal cord injury, you may be curious about the compensation you could receive from a personal injury claim. Many things determine this. Compensation for a personal injury claim encompasses the life-span of the injured party, and takes into account how much it will cost to help them stay healthy and independent during their lifetime. This amount can be millions of dollars, especially if the client is a quadriplegic.

A lawyer is needed to determine the expected value of your personal injury claim. There are many things your lawyer must take into account in order to determine the amount of a personal injury claim. First, your lawyer must consider your state’s statute of limitations. If you have experienced a recent spinal cord injury, research how long the statute of limitations for personal injury cases are for your state. Some states allow you to file a lawsuit many years after a spinal cord injury, while others only give you a handful of months to file your claim.

Your lawyer will also look at legal precedent while determining your expected value. Legal precedent includes researching all personal injury claims similar to yours and looking at the results for each case. Legal precedent varies widely from state to state. Knowledge of similar cases can help your lawyer maximize your chances of financial recovery.

Lastly, your lawyer will look at all evidence for your case to determine your personal injury claim. The possession of concrete evidence, such as a video of the incident, can lead to more financial compensation.

Which Expenses Are Included in Your Claim?

There are a myriad of aspects a lawyer must take into account while determining a personal injury claim. The most common expenses included in a personal injury claim are as follows:

– Severity of Injury: A price is put on the severity of your injury, i.e. your level of injury and whether the injury is incomplete or complete. For example, if you are a C1 ventilator-dependent quadriplegic, the expected value of your personal injury claim will most likely be higher than a claim for someone who is a parapelegic.

– Medical Expenses: One of the most obvious expenses included in your personal injury claim are past and future medical expenses. These expenses can be very high, as they can include caregiver wages and durable mobility equipment, which both typically cost tens of thousands of dollars. Physical rehabilitation, surgery, all necessary medical equipment, and medications are also included.

– Loss of Wages: Many people who sustain spinal cord injuries miss workdays or cannot return to work altogether, resulting in lost wages. These lost wages are considered when determining the value of your personal injury claim. Your loss of income earning potential can also be considered in this value.

– Pain and Suffering: While pain and suffering be difficult to quantify, it should always be considered. Pain and suffering refers to physical pain, loss of physical and mental abilities, mental health issues, grief, and even inconvenience. Everyone deserves to be financially compensated for any suffering they experience following an injury.

– Loss of Consortium: Loss of consortium takes into account the loss of physical affection due to your injuries. The loss of physical affection that you, your significant other, and your children experience due to your injuries can be considered while determining your personal injury claim. For example, if you cannot hold your children anymore or participate in physical activities with them, you can receive financial compensation for this loss.

– Home Modification Expenses: Following a spinal cord injury, many people have to renovate their home to accommodate wheelchairs and medical equipment. Others have to sell their current home and buy a new, accessible home to accommodate their new lifestyle. Modification, moving, and rent expenses can be included in any personal injury claim.

– Transportation Costs: An accessible van or vehicle rental fees needed after an injury should be included in your expected personal injury claim value

– Legal Expenses: It’s no secret that lawyers can cost a significant amount of money. All lawyer fees and court fees should be included in any personal injury claim.

You deserve the largest amount of financial compensation possible after sustaining a spinal cord injury. Please contact us for any further questions regarding your personal injury claim.