How much your slip and fall case is worth is an important question. Knowing the value of your case allows you to plan for your future. It also helps you make decisions about how to pursue your case. Each case is unique in terms of value, which can make it challenging to understand the value of your case. Our experienced slip and fall attorneys in Colorado explain how to determine the value of your case.
How Much Is My Slip and Fall Case Worth?
Your slip and fall case is worth the amount of your monetary damages plus an additional amount based on the severity of your injuries to account for your pain and suffering. If your legal case is strong and your damages are certain, you may recover the full amount of your damages.
If there are questions about legal liability or your damages, it may reduce the value of your case. How much your slip and fall case is worth is unique to you and depends on your actual losses and the strength of your legal case.
What Is the Average Settlement Amount for a Slip and Fall?
The average settlement amount for a slip and fall is $30,000-$75,000. There’s no way to know the value of one case based on the settlement in another case. However, most slip and fall cases settle somewhere in the range of $30,000 or more.
The more severe the injuries are, the higher the average settlement, but injuries are only one factor in determining the amount of a settlement. The average settlement amount depends on several factors and is an individual determination for each case.
Typical Slip and Fall Settlement
A typical slip and fall settlement is the amount of medical bills, property damage, and pain and suffering that the victim suffers in the accident. A slip and fall settlement should cover the amount of medical bills in full, although there may be disputes about the value of current and future medical bills.
Pain and suffering compensation should be another part of a slip and fall settlement. The strength of the legal case and the ability of the defendant to honor their legal obligations may also play a role. Ultimately, a typical slip and fall settlement accounts for financial losses as well as payment for the physical suffering and emotional trauma of the victim.
Knowing What Your Slip and Fall Case Is Worth
Knowing what your slip and fall case is worth requires looking at the facts of the case. There are categories of damages that can be included in your total damages. Your final settlement may or may not be the total amount of your damages. In circumstances where punitive damages are appropriate, you may receive even more than the amount of your compensatory damages.
Valuing Economic Damages in a Slip and Fall Case
To know what your slip and fall case is worth, you begin by totaling up all of your damages. Many slip and fall victims are unaware of the categories of damages that they can claim. To know the true value of the slip and fall case, you have to look at your damages. Economic damages are the first place of inquiry when it comes to knowing what your slip and fall case is worth. Economic damages include the following:
- Emergency medical bills
- Subsequent doctor’s visits
- Medical devices
- Nursing care
- Physical therapy costs
- Lost income; lost long-term income potential
- Property damages
When you determine what your slip and fall case is worth, you begin by totaling all these categories of damages. Some of your damages are immediately known like the cost of an emergency room visit, for example. But you might not know your long-term medical needs when you’re working to value your slip and fall claim. You may need to work with experts who can project out your financial losses into the future. Lost income, property damage, and any other category of financial loss is part of your economic damages.
Pain and Suffering Value in Slip and Fall Cases
Once you value your economic losses, knowing what your slip and fall is worth requires examining your non-economic losses. A slip and fall victim has the right to claim pain and suffering compensation. Valuing your slip and fall damages requires evaluating the relative severity of your injuries.
A claim with severe physical suffering and emotional trauma is worth more than a claim with only minor injuries. There isn’t an exact calculation. Still, an experienced attorney can help you understand how courts evaluate pain and suffering and what the approximate value of your pain and suffering is for your case.
Punitive Damages in Slip and Fall Cases
Punitive damages may also play a role in slip and fall cases. However, punitive damages are rare in tort cases, especially in slip and fall cases. Punitive damages are something to be aware of. In rare circumstances, they may increase the value of your slip and fall case.
Evaluating the Settlement Value of a Slip and Fall Case
Once you total your damages, it’s time to evaluate other factors that may impact the value of a slip and fall case. For example, if there are questions about whether the actions of the defendant may constitute legal negligence, that may impact the value of your slip and fall case. If there are questions about whether you may have acted negligently, that may affect what your slip and fall is worth.
Whether the property owner has an insurance company to pay a claim or whether they have the resources to pay the claim out of pocket may also impact the final value of the case. The amount your case is worth isn’t just the total of your damages. Other factors play a role in the ultimate value of your case.
Contact Our Denver Slip and Fall Attorneys
The best way to know what your slip and fall is worth is to speak with our team of experienced personal injury attorneys. We can help you understand how Colorado law treats certain issues that may be present in your case. Let us help you know what your case is worth and how you can pursue compensation. Call us today.