How Does A Personal Injury Lawyer Value Your Personal Injury Case?

Personal injury lawyers know that 95% of personal injury cases settle out of court. Going to court is expensive and time-consuming. It’s also risky since there’s no guarantee that the plaintiff will win the case. If you were wondering how your lawyer will calculate the amount of your final settlement, here’s your answer.

The concept of ‘damages’

Personal injury lawyer in Medicine Hat will tell you that your final settlement is calculated based on the amounts and types of damages that you incurred in your personal injury accident. Therefore, you must understand what the concept of damages is and how they are available in your case. Lawyers know that three categories of damages exist:

● Economic – these are measurable losses and expenses. They are directly caused by your personal injury accident and what caused your personal injuries. They’re easy to calculate, especially if you keep detailed records of all of your bills and expenses related to the personal injury accident.
● Non-economic – these include pain and suffering. They are hard to measure. This makes them hard to calculate. They’re designed to compensate you for any psychological or emotional damages that you may have suffered because of your personal injury accident.

Economic and non-economic damages are the main damages of concern in the majority of personal injury cases. Because punitive damages punish the defendant they can only be used in certain instances. Punitive damages are generally not included in calculations of the final settlement.

Framing a demand

This is easy to do with your personal injury lawyer once you understand the concept of damages, their different categories, and how they work. Since you’ll be negotiating with the defense after you submit your demand letter to them you should always demand a very high settlement amount from them. You tally your economic damages and use that figure to calculate pain and suffering. You’ll be negotiating with the defendant and his or her personal injury lawyer and insurance company shortly after you submit your demand letter.

The defendant’s insurance company will generally try to negotiate with you so that it can pay a lesser settlement than the one that you mentioned in your demand letter. Your case will probably settle out of court. 95% of all personal injury cases do.

Valuing a personal injury settlement is not easy

As you can see, valuing a personal injury settlement is not easy because it’s not cut and dry. That’s why you need to hire a good lawyer to help you get the settlement that you want, need, and deserve. It is best to work with a lawyer that has years of experinece in handling such cases.