Experienced Personal Injury Lawyers in Missouri
Video Transcript
Is There A Formula for Case Value?
The simple answer is no, there’s not. There are so many subjective items that go into a personal injury case that it can’t possibly be quantified with a simple formula, it just doesn’t work that way.
We’ve handled cases where there are multi-billion dollar insurance companies on the other side. In fact, every case we have typically had if not a billion-dollar insurance company, a hundred million dollar insurance company on the other end. And, what their whole job is, is to estimate or come up with a formula for injuries and to predict their value. We know from personal, first-hand, experience they are wildly inaccurate.
Most recently we had a case where the day of the trial the final offer they told us was $40,000, $40,000 that was it, they said to take it or leave it. The jury three days later returned a verdict for $1.5 million. So this was an extremely sophisticated, extremely profitable auto insurance company that has whole divisions dedicated to coming up with values to cases and injuries. Who was not even within the realm of twenty times, twenty-five times off what that injury what has really had a value of. So, if you’re on a website or you’re looking at someone and somebody says well it’s worth three times your medical bills or it’s worth two and a half times your medical bills that’s just not the case.
Every single injury and we mean this in all sincerity, every single injury is unique. There is not one injury that’s the same because every single human being is unique, and the way they experience their life is unique. Yeah, we can come up with some parameters, but with the way we have dealt with it and the way it happens in our cases is they all have a different value and it’s an extremely impossible question to answer.
If you have been injured in an accident at no fault of your own, it’s important you speak to an attorney, contact us today.
