How to Value a Personal Injury Case in TexasJanuary 16, 2017
Personal injuries can have a significant impact on finances, mental health, and family life. Every injury has a unique set of facts, circumstances, and consequences that make it challenging to assign an exact value of a case. Experienced personal injury attorneys know what to look for in each case to determine the amount a person may be able to recover from someone else’s negligent actions.
One of the most important elements in determining the possible value of a case is the seriousness of the injuries suffered. Medical care can be expensive, and typically the higher the medical costs, the higher the value of a claim. This is why medical records can be a vital part to a legal claim.
While insurance may initially cover the medical expenses, it is important that the party that caused the injuries or his/her insurance company is held responsible. This process is known as subrogation. Most insurance carriers reserve the right to pursue a third party that caused a loss to the insured. So when medical expenses are incurred due to someone else’s actions, the insurance company has the right to seek recovery of the amount paid for the care of their insured.
With life threatening injuries, individuals may require medical care throughout their lives, or may have lost the ability to function the way they could before their injuries. In these types of cases, the value is typically much higher because a party only has one chance to recover for an injury. Any future expenses a person will require are recoverable in the lawsuit. A legal concept known as res judicata holds that a judgment by a court is final and conclusive as to the rights of the parties of the dispute. Therefore, the parties are barred from later legal action involving the same claim. This means that if future medical expenses will be incurred, the court typically cannot be asked to address these in a future lawsuit because it falls under the same cause of action.
Fault is another factor considered when valuing a personal injury case. If a party suffers severe injuries but the accident is entirely or substantially their fault, the recovery may not be the same as if another had solely caused the injury. The cost of property that was damaged or destroyed is also relevant. For example, in a car accident the costs of repair or replacement of the vehicle can increase the value a claim.
It is also common for injuries to cause a person to miss work resulting in lost wages. Lawyers will examine the amount of work a person missed or will miss, depending on the severity of the injury they suffered, and the client’s line of work. When a client is unreasonably injured by the fault of another and they must miss work, the lost income may be recovered through legal action.
The attorneys at the Amaro Law Firm have vast experience handling personal injuries and know what to look for in determining how much your claim is worth. Our experienced attorneys know what it takes to get the best possible recovery and will spend time working to understand every aspect of your case. If you or a loved one were injured as a result of someone else’s actions, our lawyers may be able to help. Consultations are free and if we cannot help you recover for your injury, we will not take your case, which means we only win if you do. Contact us today for a free case evaluation.