“How much is my claim worth?”
Factors Impacting the Value of Personal Injury Settlements
“How much is my claim worth?” is one of the most common questions we receive from prospective clients. It would obviously be comforting for injury victims to know the amount they can expect at trial or in a negotiated settlement before they decide whether to start a lawsuit.
This article will give you a general understanding of the most important factors that influence the range of settlement values or damages awards at trial.
Unfortunately, the internet is full of spectacular, high-value “guarantees” by personal injury lawyers, promising ideal or best-case settlement numbers as if they were commonplace. Such guarantees are misleading, a marketing strategy used to attract the maximum number of potential clients, most of whom will end up disappointed by their eventual compensation.
A reputable, client-focused personal injury firm will take the time to educate you about the many factors at play in determining the value of your claim, before providing an opinion on the potential range of damages at trial or in settlement discussions. While this might still involve comparisons to some of the firm’s successful damages awards and settlements, you will also understand the steps required, risks, as well as strengths and weaknesses of the cases that led to these results.
It is not uncommon to encounter two or more cases with equally severe collisions, or with the same initial injuries suffered, yet the compensation each injury victim receives is remarkably different. Although the circumstances might be similar, determining the appropriate compensation a particular plaintiff receives is based on other factors, both at trial and in settlement discussions.
On some level, it seems obvious that the more serious the injury, the larger the potential settlement. The most severe injuries (e.g.: spinal cord injuries/paralysis, severe brain injuries, amputations, blindness) usually lead to large compensation awards. A broken ankle requiring multiple surgeries will often result in more ongoing complications and functional limitations than a soft-tissue injury like a sprain of the same ankle. However, it is important to bear in mind that many orthopedic injuries heal fully in time, whereas damage from soft-tissue injuries can lead to disabling chronic pain.
A more reliable indicator of potential value in most cases is the degree of ongoing impairment caused by the injuries, and the impact on the victim’s future. Our legal system strives to put the victim in the same position they would have been in, but for the accident, compensating their losses to the extent that money can do so. Therefore, the greater the negative impact caused by the victim’s ongoing impairments, the larger the likely settlement or award.
In fact, a plaintiff cannot recover any amount for pain and suffering in a lawsuit in Ontario until they prove that they have suffered a permanent and serious functional impairment. Other heads of damage that can be proven include income loss, future care costs, and cost of housekeeping and home maintenance assistance.
In all but the clearest cases, though, it is difficult to provide a reliable estimate of the potential range of compensation in the immediate aftermath of the accident. There are many variables that must be investigated and assessed, including the long-term functional impact of their injuries on their daily activities, employment, future health care and home maintenance needs.
At Campisi LLP, we are pleased to provide a free, no-obligation consultation to discuss all aspects of your lawsuit, including the range of values you might reasonably expect, fault and liability issues and your accident benefits claim so that you can make informed decisions concerning your recovery and future. Please do not hesitate to contact us with questions and concerns, or if you need a second opinion about your potential lawsuit.
