There is no established formula or assigned value for a personal injury claim. There are many variables that are considered in the valuation of a personal injury claim. These variables include, but are not limited to, property damage, medical expenses, prescription drug costs, out of pocket expenses, the severity of the injury, the age of the plaintiff, the permanence of the injury, wage loss, loss of future earning capacity and the impact on the plaintiff’s quality of life. As an illustration, two individuals of the same sex, same age, same health and same career may suffer the same injury but have personal injury claims with substantially different values. An example of when this would occur would be where the two individuals have different lifestyles, i.e., the first individual is an avid sportsmen/outdoorsmen and the second individual leads a relatively sedentary lifestyle. If they both suffer a serious arm injury with permanent effects the impact of the injury on each individual’s quality of life would be substantially different resulting in substantially different values of their respective claims. Moreover, the valuation of personal injury claims can also be impacted by unknown variables versus the foregoing articulableor “known” variables (e.g., lost wages, medical expenses, repair costs for a vehicle, etc.) Unknown variables could include the perspectives of a particular insurance claims adjustor or drawing a particularly conservative or liberal jury. The value of a personal injury claim is often negotiated between a claims adjustor (who is specifically employed to keep personal injury settlements as low as he or she can) and your lawyer. Thus, the attorney you choose to hire could ultimately impact the value of your personal injury claim. This is why you want to make sure that you hire an experienced and committed Las Vegas Personal Injury Lawyer to fight for your interests. You want to make sure that your lawyer is fighting to get you as much as possible, not to fold for a quick and easy payday.
Personal injury claims can be resolved quickly or take years. The timeframe is dictated by a number of factors including both the resolution of your injuries (you cannot submit a claim until you know what it is worth) as well as the quality of the law firm you entrust your case with (some law firms will seek a quick resolution to make a quick buck). If you or a loved one has been injured, please contact The Hayes Law Firm to schedule an appointment to meet with a Las Vegas Personal Injury Lawyer for a free and confidential consultation. We promise that you will personally meet with an experienced Personal Injury Attorney, to discuss the many variables your personal injury case will involve.