Were you injured in a car accident in Monroe, Georgia?
If so, you may be wondering how much your case is worth. While all cases are different, there are some general metrics that can be applied to car accident cases to give a basic estimate of how much a case settlement is worth.
Please see below a breakdown on the different factors that determine how much your case settlement is worth.
FACTOR ONE-WHERE IS THE CASE LOCATED?
For example, cases in rural conservative areas in Georgia and Atlanta have different values. Why? Because juries in Atlanta tend to be more liberal and more willing to award higher amounts.
When an insurance company is negotiating a settlement, they know that they have a much lower risk of being hit with a high jury award at trial in a rural conservative area than in Atlanta. When the risk of being hit with a high jury award is low, insurance companies offer less money to settle the case.
FACTOR TWO-HOW MUCH ARE YOUR MEDICAL BILLS AND LOST WAGES?
Medical bills and lost wages are the most common types of special damages, which are damages that you can put a number on. These damages form the foundation of your case. If you can prove your medical bills and lost wages, this generally sets a baseline for what your case is worth.
FACTOR THREE-HOW SERIOUS WAS YOUR PAIN AND SUFFERING?
Pain and suffering is the most common type of general damages, which are damages you cannot easily put a number on. Pain and suffering includes all physical, mental, and emotional pain and suffering that occurred due to the accident. If you asked 10 different people how much someone’s pain and suffering after a car accident was worth, you would probably get 10 different answers.
When it comes to settlements with insurance companies, many times pain and suffering is calculated by a multiple of the medical bills and lost wages. A place like Atlanta will generally have a higher multiple for pain and suffering than a rural conservative area, because the risk at trial in Atlanta is higher for the insurance company.
A SIMPLE FORMULA
While not exact by any means, a simple formula for evaluating the worth of your case is taking the total of your medical bills and lost wages, and multiplying it by 2-5.
If your case is in a more liberal, urban area such as Atlanta, Macon, Savannah, or Columbus, use a higher multiple such as 4-5 times the medical bills and lost wages.
If your case is in a rural conservative area, use 2-3 times the medical bills and lost wages. Keep in mind this formula is for calculating the worth of a settlement, not a trial verdict.
CONTACT BARTLETT BENTON
If you were injured in a car accident in Monroe, Georgia and would like a free case evaluation, please call Bartlett at 770-365-6414.