Knowing your worth is important in life. As it turns out, it’s important in personal injury cases too. Accurately estimating the monetary value of a personal injury case is one of the first orders of business for newly-hired Naples injury lawyers. It’s not that we see clients as dollar signs or that high-value cases are the only ones worth pursuing. (Far from it, actually). Rather, an accurate case valuation is what allows us to both formulate effective legal strategies and set realistic expectations.
One of the first steps Naples injury lawyers take when filing a claim for damages is to send a demand letter. In that letter, we’ll outline the dispute and then explicitly request a specific action the other party can take to resolve the issue. That request usually includes payment of a specific dollar figure as compensation for certain losses. By the time we send that letter, we’ve got to know what fair compensation looks like for our client – and be ready to make a strong case to justify why we’re asking for that amount.
Beyond that, having a well-supported estimate of the case value is vital for:
- Informed decision-making. It allows us to make educated choices about settlement offers versus proceeding to trial. This is important because if we reject a reasonable settlement offer from the defendant, it could have big consequences. Even if we win, our client might have to pay the other side’s attorney’s fees if the final dollar amount awarded is within a certain range of a previously rejected settlement offer.
- Strategic planning. Naples injury lawyers can develop tailored legal strategies that align with the case’s potential value. The estimated value of certain damages can play a role in whether we agree to certain compromises or insist on holding the line.
- Expectation management. Accurate financial valuations help clients know what to expect. We can never guarantee a specific outcome when we accept a case. But we can often give clients a fairly good idea of what’s likely to happen. We never want to disappoint, and clients have a right to know what results are realistic. A meticulous case valuation allows us to give a clearer outline of our goals and what’s within the reasonable range of possibilities.
Types of Damages in Naples Personal Injury Cases
To accurately estimate the value of a Collier County personal injury case, we have to start by knowing what types of damages a plaintiff can legally pursue. Florida law recognizes several categories of recoverable damages in personal injury cases. These include:
- Economic damages. These are tangible, quantifiable losses the victim incurred as a result of the injury. Examples include medical expenses (past and future), lost wages, loss of earning capacity, property damage, etc.
- Non-economic damages. These are the subjective, non-tangible losses that don’t have an exact price tag, but for which courts will work to affix a monetary value. These include things like pain and suffering, emotional distress, loss of life enjoyment, and loss of companionship.
- Punitive damages. Punitive damages are intended to punish a defendant for particularly egregious actions or gross negligence. They are also used to send a strong message that would deter others from engaging in similar misconduct. Per F.S. 768.72, Naples injury lawyers must indicate at the very beginning of a case whether they intend to ask for punitive damages. It’s up to the court to allow this request, which is typically only granted in cases of clear intentional misconduct and/or gross negligence. Punitive damages aren’t typically awarded in personal injury cases. However, because they can result in a damage award that is three times the amount of compensatory damages or up to $500,000 (whichever is higher), they can significantly impact case value.
Factors in Estimating Personal Injury Case Value
Once we have established the types of damages we’re seeking, Naples injury lawyers will then look at how much we can reasonably ask for in each category. To do that, we’ll consider:
- Severity and permanence of injuries. More severe and permanent injuries generally are going to result in higher compensation. Increased medical needs and greater impact on quality of life will mean a stronger case for higher damages.
- Extent of medical treatment and expenses. The type, extent, specialty, and frequency of medical treatment that has been and will be required will play a significant role in personal injury case valuation.
- Impact on earning capacity. Not only do we look at how much the person has already lost by being unable to work after the accident, we’ll look at whether the incident is going to hinder the plaintiff’s future ability to work. Even if they can still work, they may not be able to earn as much as they once did or as much as they would have if they hadn’t been hurt.
- Liability and causation. Clear evidence of the defendant’s liability and a direct causal link between their actions and the plaintiff’s injuries will strengthen our case here. On the flip side, if there’s any evidence of comparative fault (the plaintiff’s own actions contributed to the accident/incident) may proportionately reduce the damage award. If the plaintiff is deemed more than half responsible for what happened, they may lose their opportunity to claim anything at all.
- Available evidence. The quantity and quality of evidence, including medical records, testimonies, and expert opinions, can influence the value of a case. A weaker case may compel us to settle for a lesser amount, while stronger evidence may encourage us to hold a hard line on our initial demand.
Seasoned personal injury lawyers know that conducting a thorough case valuation at the start leads to a more productive negotiation and (if necessary) litigation process.
If you are injured in Fort Myers, Naples or Key West, contact Garvin Injury Law at 800.977.7017 for a free initial consultation.
Additional Resources:
Valuing a case when filing causes concern for some civil lawyers, Jan. 31, 2020, By Gary Blankenship, The Florida Bar
More Blog Entries:
What Factors Can Affect Damages in Fort Myers Personal Injury Cases? March 13, 2024, Naples Personal Injury Lawyer Blog