Copyright © 2024 Gelb & Gelb, P.C. All rights reserved.
Our Maryland brain injury lawyers have handled hundreds, if not thousands, of brain injury cases in Maryland. Further, we have successfully and amicably resolved several thousand personal injury cases in our long history of practicing law in Maryland. This experience has shown us several things. First, about 95% of personal injury cases settle. There are advantages for both sides when settling a case. For the defendant, if they know they will be losing and making a payment regardless, they want to limit their costs. A trial is expensive for the defense. They know they must pay expert witnesses, deposition costs, and attorneys. Meanwhile, settling a Maryland brain injury case saves them all these costs. The disadvantage of settlement for the defense is it is a guaranteed loss. However, the ability to mitigate their damages should not be underestimated.
For you, the accident victim and plaintiff, settling a Maryland brain injury has several advantages. For one, there is certainty in settling your case. When we go to trial, there is never a guarantee that we will win. Even if your case seems like a slam dunk, classic cases show that trials and juries can be unpredictable. The criminal case for OJ Simpson is a classic example. Moreover, settling your brain injury case is quicker. The defense will not appeal an agreement they willingly entered into. This is unlike a judgment, which may drag out for years. Even getting into court in Maryland can take upwards of a year. The reduced cost is the third key advantage that makes settling a case appealing to plaintiffs.
While you do not pay a Maryland brain injury lawyer at Gelb & Gelb hourly, instead, on a contingency fee basis, there are still other costs to be aware of. As for the defense, there are expert witness costs and deposition costs. But there are also filing fees, administrative costs, discovery costs, trial exhibits, and more.
While settling is generally the better option, this is not always true. This is, in part, why retaining legal counsel is so beneficial. There are many instances when a settlement offer in advance of litigation does not cover the value of your claim. If that is the case, it is insensible to accept a poor offer unless personal circumstances require it. The most significant disadvantage of settling your Maryland brain injury case is the potential for lack of compensation. Going to trial opens the door for large judgments. Meanwhile, settling a brain injury case will rarely net you far more than your injuries warrant, while that may be possible at trial. However, remember that collecting on a considerable judgment can still be difficult. Sometimes, there is insufficient insurance coverage. Or, a defendant who does have sufficient assets to cover a judgment may choose simply not to pay.
At best, this can still extend the legal process considerably. Another disadvantage of settling is that it may not give you a sense of closure. Some plaintiffs, particularly those deeply emotionally injured by the injury, want to feel a sense of justice. Maybe the injury is due to negligence. When this happens, there is often no criminal consequence, leaving a civil action as your only path to justice. However, some plaintiffs feel that justice is achieved only when a jury points to a defendant and tells them they are liable. A settlement feels like a cop-out to these plaintiffs. While that is true to some extent, nothing accomplished at trial will reverse the injury, pain, and suffering you are experiencing. Ultimately, this should be approached with as objective an approach as possible while still considering what allows for the best possible recovery.
Valuing your brain injury claim depends on many factors. When settling a Maryland brain injury, we must consider each of these factors to calculate the value of your case. In general, the formula for valuing any case rests with economic and noneconomic damages. First, we consider economic damages.
These consist of medical expenses and lost wages. Of course, if any personal property on your person at the time of the accident is broken, you are entitled to the market value of that item at the time of loss. However, staying focused on your personal injury claim, we first account for your past medical expenses. This typically includes hospital bills and any physical therapy for injuries other than your brain. Hospital bills tend to be very expensive. Even if your health insurance covers that bill, they still are owed payment out of the recovery. Accordingly, we must consider the entire hospital bill. Then, we also consider your future medical expenses. When you suffer a traumatic brain injury in Maryland, you may require nursing or medical assistance for the rest of your life.
Of course, this is expensive. However, you did not cause your injury, so there is no reason why you should be responsible for paying that cost. Accordingly, we calculate your life expectancy and multiply that by the cost of those expenses when valuing your brain injury claim. We also consider any lost wages you have. If you were working before your injury but now cannot because of your traumatic brain injury, you are entitled to compensation for that economic damage. Like medical expenses, we consider any loss of future earning capacity related to your brain injury. For many, a brain injury can be enough for you to lose your job. We will fight so you are not left to bear this burden alone.
Noneconomic damages are more difficult to calculate, which is partially why going to trial is more risky. One jury may value noneconomic damages vastly differently than the next. Here, we list things that a jury can consider. How much they value that noneconomic injury depends on how people in that county and people of their socioeconomic status tend to act. We must prove these noneconomic damages if we wish to recover them. Often, we can do this by your testimony. However, in some instances, we would need an expert witness if we go to trial.
When you negotiate with an insurance company, you must remember that the individuals working for them are professional negotiators. While they often have computers telling them how much to offer, they tend to follow a formula. They also generally offer less to a layperson not represented by a Maryland brain injury lawyer because they know there is no threat of litigation. Without the threat of litigation, there is no leverage in the negotiation. As Maryland injury attorneys, we negotiate with the insurance companies daily. We understand how to value your case and when you deserve more money via a settlement offer. Oftentimes, the insurance negotiators do not fully grasp the law at issue.
This is when our seasoned and experienced attorneys explain why your case is so compelling to a jury and seek to secure the maximum value your case deserves.
Settling a Maryland brain injury is an excellent way to secure compensation for your injuries. Contact our office today for a free consultation at (202) 331-7227.
Copyright © 2024 Gelb & Gelb, P.C. All rights reserved.