Determining the Value of a Personal Injury Case
There are many factors to consider in determining the value of a personal injury case. It is complicated at best. The attorneys at Stephen Bilkis and Associates, aggressively represent victims of personal injury accidents. We have decades of trial experience and have a proven track record in taking cases to trial and winning. The firm and our lawyers have won verdicts ranging from $69 million ($69,000,000) to $30 million ($30,000,000), to $19 million ($19,000,000), to $12 million dollars ($12,000,000).Speak with a skilled New York City personal injury lawyer at Stephen Bilkis and Associates for guidance and to help you get the compensation you deserve.
If you have been injured in an accident, you are likely wondering what your case is worth, and is it worth pursuing. There are various things to consider when deciding to move forward with a case, and many questions need to be answered. Who was at fault? How severe is the injury? Is there any permanent damage? Is there economic loss?
These and a variety of other questions need to be considered by your lawyer when determining the value of a personal injury case. The following areas are of importance.
Economic Damages. Economic damages include lost earnings that the victim has suffered, but also includes future earnings as well. It is important to note that when calculating these amounts costs of living increases and inflation also need to be considered. A personal injury attorney experienced in New York City case law will tell you that in the event of a debilitating long term permanent injury, economic damages can be in the millions of dollars based on lost future earnings alone.
Medical Expenses: If you were involved in an accident and you were not at fault, your damages will include your medical expenses. This will include your current medical costs, plus any medical expenses you could incur in the future. If you received an injury such as a brain or back injury, or have been left with paralysis, your medical expenses can easily run into hundreds of thousands of dollars.
Pain and Suffering: The allows you to collect damages for pain and suffering. It is a very subjective thing, as it is difficult to measure the physical pain of another person. What can be measured however, is the available medical evidence and the loss of quality of life. For example, if you were a lifelong runner, and after your accident could never run again, your quality of life has been diminished.
Insurance Companies: Insurance coverage is a critical consideration when determining the value of a case. Each company has their own policies and procedures for handling an injury claim, and they will all value a case differently.
One important factor to consider is policy limits. For instance, if the policy limit on the case is $1 million dollars ($1,000,000), it will be extremely difficult to obtain an award over that amount. An experienced New York City personal injury lawyer however, may be able to investigate if the party has an umbrella policy which can provide additional recovery money.
While every case is different, some recent personal injury cases in New York have won the following verdicts:
Queens County, NY-$5,000,000 Verdict: This was a medical malpractice action where the plaintiff's encephalitis was misdiagnosed.
Schenectady County, NY-$6,800,000 Verdict: This plaintiff was injured during work at a construction site. The plaintiff tripped and fell 20 feet from a ladder
Kings County, NY-$2,225,000 Verdict: In this case involved a bus vs. pedestrian collision. The bus lost control and drove up onto the sidewalk, knocking over a coffee cart which fell on the plaintiff.
If you have been injured in an accident at work, a car accident, construction accident or slip and fall and need advice and help determining the value of your personal injury case, it is important to speak with an experienced personal injury lawyer from our New York City office. You may be unable to work, and your medical bills are mounting. In the meantime, important evidence could be lost, and any witnesses to your accident could move out of the area, or their memory become foggy. The sooner you contact us, the sooner we can set to work obtaining accident reports, photographs and medical records that are critical to your case. Armed with the all the facts, we will be better able to determine a strategy moving forward and determine if it makes sense for you and your family.
Call Stephen Bilkis and Associates for a free consultation at 800.696.9529. They have office locations throughout New York, including locations in Manhattan, the Bronx, Brooklyn, Staten Island, Queens, Suffolk County, Nassau County and Westchester County.