Clients often want to know the value of their claim and that is certainly understandable. It is however very difficult early on to forecast. There are many factors which influence the value of a personal injury claim including:
1. Liability- is it clear that the person or company you claim caused the injury was at fault? If the case involves a driver running a red light or a rear end collision that question is often easily answered. If the case involves a defective product or medical malpractice that is a much more difficult question. Experts must be hired to review medical records and other materials and fault in those types of cases is often hotly contested. Many claims arising from traffic accidents or premises liability (slip and fall accidents on someone else's property) are also defended aggressively when there is any hint that the person injured (the plaintiff) may also have made a mistake.
2. Injury- is the injury minor or life changing? Even if the fault of the other party is clear the value of the claim is limited if the injury is small or goes away quickly. High value personal injury claims are driven by catastrophic injury and loss. A case which involves a visit or two to the doctor and shortly thereafter the plaintiff feels fine has limited value. The personal injury case involving a medical condition requiring surgery and permanent loss or limitations is a different story. If the medical care is substantial and invasive (surgery, injections), the injury will always cause some pain or limitation and/or the injury is life changing then the value of the claim may be very high. The extent of the injury largely determines case value.
3. Insurance coverage- does the at fault person or company have insurance and if so how much? Even if liability is obvious and the injury is catastrophic there is no guarantee of a financial recovery if no insurance proceeds are available. Policies of insurance are contracts which provide a limit on the amount an insurance company has to pay for an injury. The statutory minimum for car insurance in Illinois is $20,000. Many companies specialize in selling policies of this size. If a person insured by a policy with a $20,000 policy limit misses a stop sign and strikes a child breaking their arm and leg or even killing them, the insurance payment from the driver's policy is limited to $20,000. A lawsuit can seek money from the driver personally although most people who carry small insurance policies on their cars don't have the money to pay for the injury they caused. Whether the defendant has insurance coverage, how much coverage is available and whether the person injured has insurance coverage which may apply should be investigated by a personal injury lawyer.
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