If you or someone you know has been injured in a car accident or any other form of personal injury, it can be difficult to navigate the legal process. This includes wondering how to value a personal injury case.
Here’s what you need to know about how to value a personal injury case.
1. Liability
The first factor that affects the value of a personal injury case in Denver is liability. Liability refers to the legal responsibility of the person or entity that caused the accident. In most cases, the person who caused the accident is responsible for compensating the injured party for their damages. If liability is clear, your case is generally worth more than if liability is in dispute. Therefore, it is important to have an experienced personal injury lawyer on your side early on to identify any potential issues of liability.
2. Damages
The second factor that affects the value of a personal injury case is damages. Damages refer to the physical, emotional, and financial losses suffered as a result of the accident. Medical expenses, lost wages, property damage, and pain and suffering are all examples of damages that can be compensated. The more severe and permanent your injuries are, the higher the value of your case will be.
3. Insurance Policy Limits
Another factor that can impact the value of a personal injury case is insurance policy limits. This refers to the maximum compensation an insurance company will pay for a particular incident. If the at-fault party has low insurance policy limits, then the amount of compensation you receive from that insurance carrier will also be limited. However, if the at-fault party has high insurance policy limits, you may receive a higher amount of compensation.
4. Comparative Negligence
Comparative negligence is a legal concept in which both parties share some degree of responsibility for the accident. In some states, compensation may be reduced if the injured party was partially at fault for the accident.
For example, if you were involved in a car accident and were found to be 25% at fault for the accident, your compensation may be reduced by 25%.
It is important to speak with an attorney who can help determine if comparative negligence applies to your case.
