The use of this “formula” is often brought up in consultations and is thought of by many as a way to value car accident claims. Though it could be true that you may receive three times your medical bills, it is also just as likely that you could receive more or less. Never assume that the value of your accident claim is simply “3x’s your medical bills.”
There are many important factors that must be considered to determine the true value of your case including the total amount of your medical bills, your lost wages, the severity of your injuries, and your pain and suffering.
There are also factors that can increase the value of your claim. Scenarios that can do so include:
- The client’s injuries worsened over time, leading to unforeseen treatments and costly procedures.
- The client didn’t predict the type and/or duration of treatment their injuries required.
- The client didn’t anticipate the strain the accident would place on their personal life.
- The client didn’t account for the long-term psychological effects.
While your accident may include more or less factors than listed above, it is important to realize that no one can give you an actual dollar amount until your claim has been fully investigated. Ultimately, your damages are likely to have additional value if presented to an insurance company by way of experienced legal representation. Having an attorney allows you to see the full picture of your claim while relieving you of the stress from dealing with the insurance company and allowing the time to focus on getting better.