How Much Is a Lawsuit Worth?

If you or a loved one recently suffered an injury in an avoidable accident, you may wonder, “How much is a lawsuit worth?” In general, if another party causes your injury due to their negligence, you could be entitled to a range of damages, such as medical expenses, loss of wages, pain and anguish, and others. However, estimating the worth of your lawsuit can be tricky without the help of a seasoned personal injury attorney. 

Morgan & Morgan knows that personal injury victims depend on fair settlements to rebuild their lives, especially after a catastrophic or disabling injury. We want you to have the best shot at getting what you deserve. Our committed personal injury lawyers can fight vigorously for your best interests and maximum possible compensation. Contact us today for a free consultation to find out if you could file a personal injury claim.

Determining the Worth of a Lawsuit

Several factors will determine the value of your injury claim. One of the most crucial considerations when calculating the value of your case will be the extent of your financial damages, including:

• Medical bills
• Wage loss
• Property damage
• Out-of-pocket expenses 

However, if you suffered significant or life-changing injuries, you could also pursue compensation for non-economic damages, which could raise the worth of your claim considerably and include:

• Pain and suffering
• Emotional trauma
• Inconvenience
• Scarring
• Loss of life quality
• Disability

Moreover, a court could order punitive damages when a defendant acted maliciously in causing your accident and injuries. Punitive damages are designed to punish the wrongdoer and deter them and others from committing similar acts. 

Calculating Damages 

Every personal injury case is unique. Therefore, it can be tricky to determine how much a lawsuit is worth. In calculating your damages, your attorney will add up all your actual expenses and then put a value on your non-economic damages, such as inconvenience and suffering.

Non-Economic Damages 

Putting a dollar figure on the subjective physical and emotional pain you experienced can be tough. Non-economic damages such as pain and suffering are typically determined by multiplying your economic damages, such as medical bills, with a factor between 1.5 to 5. The more severe and life-limiting your physical injury, the higher your multiplier factor will be. 

For example, if your medical bills for the injury amount to $10,000, but you only suffered minor injuries, the multiplier factor will be closer to the lower end of 1.5. Therefore, you could receive $15,000 in non-economic damages with minor or moderate injuries. However, if you suffered a severe or permanent injury, your factor may be closer to 5, and you could recover $50,000 in pain and suffering damages. 

Since the multiplier method can be somewhat subjective, having a seasoned lawyer from Morgan & Morgan by your side could help you recover the maximum compensation in your lawsuit.

How Your Actions Can Influence the Worth of Your Lawsuit

A victim’s behavior and actions during the accident and afterward can significantly influence the amount they can recover in a personal injury claim. In most states, if you have some degree of fault in the accident, the award you can receive will be reduced by the percentage of your fault. For example, if you are 30 percent to blame for a car crash, you can only recover 70 percent of the value of your damages. In legal terms, this principle is called “comparative negligence.” 

Alabama, Maryland, North Carolina, and Virginia use the principle of contributory negligence. In these states, victims who have some fault in an accident may not be able to recover any damages. 

However, not only facts and laws influence your settlement value. Being honest and agreeable can positively influence your recovery after a personal injury. Here are some actions you can take to preserve your chances of a fair settlement:

Mitigate Your Damages After an Accident

A court generally looks favorably on a plaintiff (the victim bringing the suit), who tries to minimize their losses and damages. Actions you should take include: 

• Getting the necessary medical treatment as soon as possible
• Following your doctor’s treatment plan
• Being professional and pleasant during the claims and settlement process

Conversely, being belligerent during proceedings or failing to follow your doctor’s orders could significantly reduce your award in a personal injury lawsuit.

Keep the Facts of Your Accident and Lawsuit Confidential

During legal proceedings and while seeking a personal injury settlement, do not make comments to friends, coworkers, and acquaintances about your lawsuit or accident. Insurance companies and defendants’ attorneys will try to find information that discredits victims and reduces their awards. They may even try to get information from your family, friends, and social media accounts. 

For example, if you claim damages such as wage loss due to significant injuries and then post a picture on social media showing you on vacation or playing sports, your lawsuit’s worth could be significantly reduced. Therefore, it is best to only speak to your attorney about the ongoing case and cease using social media until your lawsuit is resolved and you have received compensation.

Hire an Accomplished Personal Injury Lawyer

Perhaps the best way to ensure that your rights are protected is to hire an experienced personal injury lawyer who can:

• Calculate the value of your present and future expected damages
• Build a comprehensive case against the liable party
• Handle all negotiations with the insurance company and defendant
• File a lawsuit and fight for what you deserve in court

Morgan & Morgan is here for you. If you or a loved one recently suffered harm due to the actions or inactions of another, we can protect your rights and walk you through your options for recovering your due. Our experienced and tenacious attorneys can leave no stone unturned in fighting for a fair settlement that allows you to recover mentally, physically, and financially.

Examples of Morgan & Morgan Personal Injury Settlement Amounts

Predicting how much your lawsuit is worth without looking at your case in detail is impossible. However, some recent examples of Morgan & Morgan settlements and verdicts for personal injury claims include:

• $7.88 million car accident verdict in Orlando, Florida, after a $100,000 pre-trial offer from the insurance company.
• $225,000 slip and fall personal injury settlement in New Albany, Indiana, after a pre-trial offer of $5,000.
• $5.75 million settlement for a car accident wrongful death claim in Orlando, Florida.
• $2.12 million trial verdict in a nursing home abuse case in Tampa, Florida, after a $625,000 pre-trial settlement offer.
• $5.58 million trial verdict in a slip and fall case in Florida Orlando, after the victim was offered $350,000 before the trial.

While success in a personal injury case is never guaranteed, there are many more cases in 2022 alone where we have helped clients recover what they truly deserve after getting hurt. Unlike many other law firms, we do not settle for an insurance company’s last best offer and are not afraid to fight at a trial for what you truly deserve. 

If you suffered harm due to another’s negligent or willful conduct, get in touch with us. Our dedicated personal injury attorneys can assess your specific circumstances, advise you on the worth of your case, and could help you recover what you need to put your life back together.