This has to be one of the most frequently asked questions that I face in the practices of personal injury and workers’ compensation upon meeting with a new client.
If my client was recently injured in an accident, the unfortunate answer, in most instances, is that we do not know yet what the full value of your injuries are. In fact, I do not believe any attorney can put a realistic value on a case until all the facts are known from both sides, that you have had the chance to obtain the medical treatment you and your doctors think necessary, and, most importantly, that your body has had a chance to heal from the trauma you have endured.
In valuing a personal injury or workers’ compensation claim, there are a number of factors to consider, including: the nature and extent of your injuries, any out of pocket costs or losses, any prior medical conditions you have, your own actions in contributing to the cause of the accident, if any, the amount of the insurance coverage and even the county in which the case will be heard. These are some, but not all of, the factors an attorney will consider in valuing a case.
Placing an appropriate value on a case is crucial because it can encourage a resolution acceptable to both parties to avoid a costly and risky trial for all involved. In other states, juries can be told how much money the client is seeking. In New Jersey, you are prohibited from telling the jury how much money you think your case is worth. Therein lies the risk of a trial – the value of your physical pain and suffering is left in the hands of six or eight people to decide. They could give you nothing, less than you expected, or more than you expected. Sometimes, trials are the only option to resolve the differences between the two sides, but valuing a case correctly increases the chances that a trial can be avoided.
There are no books or charts which an attorney can refer to in order to come up with a case value. It comes down to experience in handling cases involving similar injuries and skill in litigating the case that determine a proper value of a case for settlement purposes. If you or a loved one has a personal injury or workers’ compensation case, please e-mail me at kreed@portnoilaw.com or call me 732- 444-7914. I would be more than happy to answer any/all questions you have.
