Since every case is unique, there is no simple answer to this question, but factors such as the following are helpful in evaluating the potential value of a personal injury claim:
- Legal Merit – In order for a claim to have any value at all, the facts must establish that someone else was at fault.
- Medical Bills – The amount of your bills for reasonably necessary medical treatment is a key factor in assessing the value of a claim. The larger the bills are, the more the case is likely to be worth.
- Lost Wages – If your injury has resulted in lost time from work as ordered by a doctor, you can seek compensation for the lost wages as part of your claim.
- Permanency of Injuries – If your injuries are permanent, or likely to continue to negatively affect the quality of your life or your ability to work for a long period of time, your claim probably has a higher value than a situation involving temporary injuries from which someone can completely recover.
- Insurance Coverage – Last, but certainly not least, you will need to determine how much insurance coverage the responsible party carries. Regardless of the dollar value of your medical bills and lost wages, the maximum amount that is available under the responsible party’s insurance policy often places a ceiling on what you can hope to recover.
In many cases, some or all of these factors are uncertain at the outset, and damages might not be able to be accurately or fully assessed until after you have completed your medical treatment or reached maximum medical improvement (“MMI”). Be skeptical of anybody who suggests a dollar amount to you without knowing all the details. How much your personal injury claim is worth depends upon the specific facts and circumstances of your case, and no two cases are exactly the same.
How Can I Ensure That I Am Compensated Fully and Fairly?
Regardless of how much your case is actually worth, receiving full and fair compensation depends in large part on how compellingly you present it to the decision-maker, whether that be the responsible party’s insurance company, an arbitrator, a jury, or a judge. Only by clearly demonstrating liability and thoroughly conveying the extent of your loss can you hope to obtain a settlement or a judgment that accurately reflects the damages that you have incurred. This is where you can gain a significant advantage by enlisting the help of experienced legal representation, and experienced legal representation is exactly what you can expect from the Chicago personal injury lawyers at GWC Injury Lawyers.
GWC is Illinois’ largest Personal Injury and Workers’ Compensation law firm, with offices throughout the state. We have recovered over $2 billion for our clients. If you have been wrongfully injured, contact GWC today to schedule a free consultation with one of our attorneys. Please call our office at (312) 464-1234 or click here to chat with a representative.