The articles in these guides are devoted to shedding light on the multitude of factors that go into determining fair value for a Maryland personal injury case. The number of articles should give you some indication that there is no "formula" to determine the value of a claim, and that a primary function of a personal injury lawyer is to assess an analyze multiple factors in order to determine a fair value.
You can find websites that allow you to input the amount of your medical bills, and it will spit back out 3 times that amount as the "value" of the case. The task is not so simple.
Many former insurance adjusters will talk about the use of multipliers. Personal injury and accident lawyers have heard these former adjusters say that, perhaps in a bygone era, in their time adjusting claims, they would determine the amount of the medical expenses, and multiply that amount by a variable of 1.5. to 5, then add in lost wages, to arrive a at a dollar figure for settlement discussions. In this story, we are told that the 1.5 to 5 scale varies based on the severity of accident and injury. The reality is, today, most major insurance companies have chosen to use computer software to project a value range of most claims.
The bottom line is that there is simply no formula to determine the value of a case.
Other, personal, intangible factors can influence these calculations, whether made by a human being or a computer. A skilled personal injury and accident lawyer should make the additional, distinctive, but important, considerations well known to the adjuster as part of the negotiation process. An effective attorney will put these personal considerations firmly in front of the jury deciding the case, to be weighed along with the hard numbers and objective, tangible evidence.
I've argued hundreds of injury cases over the years. I'd be happy to speak to you about yours. Contact me.