How do you determine the value of a personal injury claim? - Herschensohn Law Firm

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Transcript:

00:00:03 question is how do I determine the value of a personal injury claim well the first question I need to ask is how much money can be obtained in that particular claim or that particular lawsuit and that’s generally going to be determined by determining how much there is an available insurance coverage or who the defendant is the defendant’s a large corporation where you can be assured that they’re going to have a money that’s available to pay any judgment or pay any settlement then you kind of have a an Open Door on

00:00:33 the amount value you can place on the claim assuming the damages are there and then if there’s a certain limited amount of insurance coverage that oftentimes will set the ceiling for what can be recovered because you can’t get money if the money isn’t there so that’s the first step the second step is to determine what the damages are and the damages consists of basically two things past and future pain and suffering past and future wage loss and medical expenses so it’s really those two things then you got to look at liability

00:01:07 because if liability is really strong then you’re going to get every penny of the damages if liability is weak you’re probably not going to recover all of those damages you’re going to have to take a discount on those damages