Factors that Determine the Value of Wrongful Death Claims
While it varies from case to case, insurance companies and First Coast personal injury attorneys tend to look at the same set of issues when valuing a wrongful death claim.
A wrongful death settlement will, in large part, be based on mitigating the financial damages suffered by your family due to your loved one’s death. One of the most significant sources of financial damage your family will suffer is the loss of the deceased’s income over his or her lifetime. This is especially significant of the deceased was the primary source of income for your household.
In order to make this determination, your First Coast personal injury attorney will look at the deceased’s wage statements, job history, and the health of the industry he or she worked in. This information is usually enough to extrapolate from, allowing the attorney to come to a reasonable estimate of what the deceased would have earned over his lifetime. This figure will be used as a starting point during the settlement negotiation.
Your attorney will also factor in short-term financial damages such as funeral costs and medical bills. While these costs are not as big a factor as the wage calculation, your family still deserves to be compensated for them.
Your settlement will also be affected by the quality of the evidence that you have against the insured. If you have evidence to prove definitively that the insured’s negligence led to the accident, your settlement will be much larger than it would be if the evidence was more tenuous.
Finally, it is key that you are being represented by an experienced personal injury attorney. Call today for a free initial consultation with First Coast personal injury attorney John Fagan.