personal injury calculator image

personal injury settlement calculator

 

The Calculator

PURPOSE

This accident settlement calculator is intended to give victims in Illinois a realistic settlement figure.

OTHER SETTLEMENT CALCULATORS

Outdated calculations simply take all of your medical bills and multiply by 3. That formula is wrong and gives personal injury victims an inflated value of their case.

MY CALCULATOR

This calculator draws on my experience negotiating with insurance companies and the settlement offers they typically make. Please remember, this is not intended to give you an exact dollar amount for your particular case. Individual cases will always vary and could be substantially more or less than the figure below. For an individual evaluation of your claim, contact me: (847) 780-6326 | graham@balkelaw.com.

After calculating your total, see Things to Consider at the bottom of this page.

 

Things to Consider

Settlement

Settlement does not mean 100% value for you case. By necessity, when you settle a case, you are taking less than you might get at trial. For the reasons listed below, taking less than the full value of your case will often result in more money for you.

Attorney Fees

Your settlement will be reduced by 25 - 33% to cover attorney fees.

Costs

While your attorney will cover typical office related costs (copying, mailing, etc), other costs will come out of your settlement (ordering records, filings with the court). The costs associated with a case before trial are usually under $1,000. However, if your case goes to trial (or even goes beyond party depositions) the cost will be anywhere from $5,000 t0 $50,000 or more.

This is an important factor when considering whether to settle your case. Even low settlement offers can net you more money than winning at trial due to the high cost of litigation. 

Medical Liens

If you insurance does not cover all of your bills during treatment, or you did not pay your co-insurance / co-pays, facilities and creditors will run what are called liens on your settlement award. These treaters must be paid back before your attorney can release you money.

Health Insurance / Car Insurance subrogation liens

Did your health insurance cover your bills? Did you have medicaid or medicare? Did you utilize your car insurance med-pay? If so, they will require repayment out of your settlement. There are various laws to limit how much they can recover, but some amount will be owed. 

bottom line settlement value

After all liens, outstanding bills, litigation costs, and attorney's fees are paid, you will likely be left with around 30-40 % of your overall settlement amount. This varies, of course, but 

 

What's My Case Truly Worth?

There is only one way to get a true valuation of your claim based on its unique facts...use the links below to call, text, or email me.

Or, just fill out my CONTACT FORM.