Unfortunately, there is no hard/fast rule or formula for the valuation of injury cases– every case is different and much of the value of the case is dependent on many different factors:

– Are you represented by a lawyer and what is your lawyer’s reputation? A national study concluded that people represented by lawyers receive settlements 300% greater than unrepresented people. And yes, insurance companies know who the “good” lawyers are versus those lawyers who will take the first settlement offer.

– The severity and permanency of any disabling injuries. Cases where someone is left with a significant, permanent impairment are worth more than cases where a person has fully recovered from their injuries.

– Any liens. Many times there are liens (ie Medicare, health insurance, etc.) that need to be paid back out of a settlement. Sometimes those lien amounts can dramatically increase a settlement value because the client would have to pay them back. However, liens are very complicated and just because someone who has paid the bills say they have a right to be paid back, does NOT mean they are correct. For instance, in NY, a no-fault carries does NOT have a right to be paid back for the first $50,000 in benefits paid. Because liens are complicated, it is critical that you work with an experienced lawyer who knows the details of what liens are appropriate and what ones are wrong.

So, for these reasons and many more, it is impossible to properly value a case unless you know every detail of that case because valuations can range very widely.

Hope this helps and thanks for leaving your question which is a great one.

Jim
_________________________________
James B. Reed
NY & PA Injury & Malpractice Lawyer
Ziff Law Firm, LLP
Mailto: jreed@zifflaw.com
Office: (607)733‑8866
Toll-Free: 800-ZIFFLAW (943‑3529)
Web: www.zifflaw.com
Blogs: NYInjuryLawBlog.com and
NYBikeAccidentBlog.com