Determining Mesothelioma and Asbestos Case Value

Determining mesothelioma and asbestos case values is not exact and depends on the individual factors of each case. An expert asbestos attorney can estimate a reasonable amount. They act on behalf of their clients to get this amount through lawsuits, claims, and asbestos trust funds.

If you or a loved one were diagnosed with mesothelioma, asbestos-related lung cancer, or asbestosis, you may be entitled to substantial compensation. We invite you to fill out our form today for a free Financial Compensation Packet, filled with information about qualified mesothelioma lawyers in your area, how to get paid in 90 days, how to file an asbestos trust fund claim, and much more. 

How Do I Find Out What My Mesothelioma Case Is Worth?

A lot of factors go into determining the value of a mesothelioma claim. There is no way to predict an exact amount, but an experienced asbestos attorney can make a reasonable estimate.

If you work with an asbestos law firm or lawyer, they will review the circumstances of your case to determine an amount to seek. They will fight for that amount through a lawsuit, settlement, and other sources of compensation.

What Is the Average Settlement for Abestos Cases?

Settlement amounts vary widely in mesothelioma lawsuits and depend on the specifics of each case. The average settlement in mesothelioma and asbestos lawsuits is between $1 and $1.4 million.

Most mesothelioma lawsuits end in settlements, but some go to trial. A jury usually awards a much higher amount. The verdicts in asbestos lawsuits range between $5 and $11.6 million. The average is around $2.4 million.

What Is the Highest Mesothelioma Settlement?

Settlement amounts are not always disclosed, so it is not possible to identify the largest amount awarded. However, verdicts are a matter of public record.

A Mississippi jury awarded a record verdict for an asbestos case in 2011. The amount, $322 million, went to Thomas Brown Jr.

Brown worked in oil fields for decades and developed asbestosis later in life. The jury awarded the amount against Chevron Phillips and Union Carbide.

The record-setting award included $300 million in punitive damages. Unfortunately, the judge vacated the verdict, but the results show how willing juries are to compensate victims.

What Is the Typical Asbestos Trust Fund Payout?

When companies go bankrupt due to asbestos lawsuits, they often set up trust funds to compensate future claimants. The average payout from an asbestos trust fund is $180,000, but again, there is a lot of variation.

What Factors Affect Mesothelioma Case Value?

Averages are useful to give you an idea of what your asbestos case could be worth, but it’s important to understand how much amounts vary. Your individual mesothelioma case value depends on several factors:

Medical Costs 

Anyone dealing with an aggressive disease such as mesothelioma will tell you how costly treatment is. Treatments, therapies, medications, and even the costs of getting to and from medical appointments, factor into your case worth.

Medical costs will differ depending on your medical center and the type of treatment you receive.

For instance, the average cost of lung surgery can be around $39,000, whereas the average price of chemotherapy can be $30,000 and over. Even if the patient has insurance, radiation therapy can sometimes run up to $2,000 or more per month.

Lost Wages

Economic losses for both the patient and the patient’s loved ones are factored into the overall mesothelioma and asbestos case worth.

For instance, you might miss work due to medical appointments and treatments. The illness is so severe for many patients that they can never return to work.

Stage and Severity of the Disease 

The stage of your disease and how long you’ve suffered from mesothelioma will significantly impact your case value. People in the later stages of the disease and those who’ve lived with the disease for a long time after diagnosis typically have a higher case value.

Extent of Asbestos Exposure

The amount of asbestos you were exposed to, as well as the duration of exposure, matters in determining overall case value.

Although asbestos is not safe at any level, generally, the longer the exposure and the higher amount of exposure, the more likely the patient will develop an aggressive asbestos-related illness.

Non-Economic Costs 

Mesothelioma is a life-threatening disease that puts a physical and mental strain on both victims and loved ones.

The amount of physical and emotional pain you and your loved ones have had to endure may factor into your case value.

Losses to Dependents 

If you have dependents, your case value may increase due to loss of economic support, loss of emotional support, and more. This may include anyone who lives in your household that depends on you for financial support.

You may qualify for loss of consortium if you have a spouse or partner who suffered due to your illness.

Other Factors

Other factors that help determine a mesothelioma and asbestos case value include:

• Your age
• The strength of your proof of asbestos exposure
• The companies involved and their degree of negligence
• The defendants’ actions toward the victim and in the workplace
• State laws where you live

What Are Mesothelioma Wrongful Death Claims Worth?

If you lost a loved one to an asbestos illness, or if they died during their lawsuit, you may want to pursue a wrongful death claim.

The value of this claim depends on many of the same factors as a lawsuit brought by the victim. Additionally, you can consider funeral expenses and your own emotional suffering and loss of companionship.

Sources of Compensation to Boost Your Mesothelioma Case Value

As a victim of asbestos exposure, you can seek compensation through more than one source. Doing so may increase the value of your case and the amount of compensation you receive to cover medical and other expenses.

Lawsuit Settlements

Most mesothelioma cases end in settlements. However, there are instances in which your case may go to trial.

There are pros and cons to both trials and settlements, but an experienced asbestos attorney will make sure you understand all of your options and what’s best for you.

Settlements provide a guaranteed way for you to obtain compensation for your disease.

An attorney typically negotiates a settlement amount with the defense after providing solid proof of your case. Settlements are also much quicker than trial, and you don’t have to worry about the other side appealing the decision.

Lawsuit Verdicts

Settlement amounts are usually lower than verdict amounts awarded during trials. On the other hand, going to trial is a risk. If the jury decides in favor of the defendants, you get nothing.

Trials also take longer to resolve than settlements and are typically more mentally and physically taxing. For someone with a terminal illness, a trial may be too much and take too long.

Asbestos Trust Funds

When companies are responsible for asbestos exposure and resulting illnesses, they often face thousands of costly lawsuits. This led many companies to file for bankruptcy. As part of the process of restructuring, these companies set up asbestos trust funds to compensate claimants.

If you’re eligible for compensation from an asbestos trust fund, the administrator determines your claim value by looking at:

• The amount of funds in the trust
• How much of the funds must be set aside for future claimants
• The stage of your disease
• The extent of your exposure and illness

Benefits

A mesothelioma lawyer can help you get any benefits to which you are entitled:

• Workers’ compensation
• Disability insurance
• Social Security Disability payments
• VA benefits for veterans

Mesothelioma case values vary significantly because asbestos and illness affect people differently. Rely on an experienced mesothelioma lawyer to evaluate your case and maximize the value of your claims.

Additional Resources to Help Determine Your Case Value

Don’t forget to fill out our form to get our free Financial Compensation Packet, filled with information on asbestos and mesothelioma attorneys in your area. For additional assistance, contact us toll-free at 800-793-4540.