How to Calculate Your Personal Injury Settlement Value – 2021 Guide

If you were injured in an accident caused by someone else’s negligence it is crucial for you to stay cool, calm & collected. Do not plan ahead or think ahead on what you’re going to do. These things do happen, which is why it is essential to act accordingly and without causing a scene. The best way to do so is by hiring a lawyer who knows how to get you the best deal + someone who will take care of your settlement. Keep on reading and understand how the process works and how to calculate your personal injury settlement.

What Are Some Key Facts To Understand?

The value of your injury settlement will vary and depend on the interference that you have had in the accident. If you are partially guilty of the accident your compensation will be reduced by a significant amount, which is the case with most states. Here is what you have to pay close attention to:

  • Your past and future medical bills
  • Prior lost wages
  • Property damage or total loss
  • Pain and suffering

Take all of these into consideration before you start thinking about your fair settlement.

You Can Calculate It Before A Settlement

Source: qredible.co.uk

If you were injured in an accident you will be given different options by your insurance company. There is a huge chance that you will be given an offer right there and on spot. If you accept it nothing will further go into play or calculation. Later on, if you continue to discover legitimate recoverable damages post-settlement, you will not be able to get additional compensation. Insurance companies will ask you questions and try to trick you into reducing your claim. Working with a lawyer will help you understand and get a settlement that works well for you + you won’t be worried if you’re settling for less.

Make Sure That You Collect All Of Your Needed Evidence

You may already have access to evidence, so why not use them and get the best out of this situation? If you had taken some pictures of yourself or your vehicle you can use them as legitimate evidence in the trial. You can also ask any witnesses that have been around for help & their pictures or video recordings. You should also obtain copies of your police report, incident report, medical records, as well as anything else that proves that you’re a victim while showing your level of pain (both emotional & physical).

File A Lawsuit

Source: justiceeducation.ca

 

You can file a lawsuit in the USA thanks to the CVP 214 rule where you get up to 3 years to file an injury lawsuit where it’s imperative that you act within this time frame. It is important to maintain your right to sue in case the responsible party’s insurance company refuses to make you a fair offer. Do not miss this deadline.

You Can Multiply Your “Specials”

If you wish to do the maths on your own and to see what you’re working with – this is the right approach and one of the ways on how to calculate your personal injury settlement. Simply add up all the special damages and multiply those by a number between 1.5 on the low end, and 4 or 5 on the high end. Thanks to this calculation every person will end up with a vision of a fair settlement. The second number is also known as a multiplier. You will want to get the best settlement possible, which is why you are going to argue for a higher multiplier while the defendant will aim for a lower number. This is where your lawyer is going to help you come up with a proper tactic.

Use A Daily Rate

Source: hqbeds.com

Another approach that you can go for is the daily rate or ”Per Diem” approach. With this, you can ask for a certain dollar amount for every day that has passed since your accident where you had to live with the pain and trauma. If you use your daily wage and earnings you will get something that is reasonable as a settlement solution. Some people might end up in major accidents and with severe complications, such as bruising all over their bodies while having to wear casts or neck braces. Due to high levels of pain, your lack of mobility, and your overall odds of getting better you will probably stay at home and stop coming to work. To get a fair pain and suffering settlement in this case, just multiply your daily earnings with days that you plan on spending (or have already spent) at home and you will be looking at your realistic settlement.

Take A Look At Your Medical Records

Lastly, when it comes to general damages or if you are someone getting the treatment you should communicate with a team of doctors yet professionals who will take care of you & your needs. Insurance adjusters will often accept your report of pain and discomfort for your legitimate medical records. Your attorney should be able to help you make the best possible case given the evidence you have available and that your doctors have also presented.

Need A Team Of Experts Who Can Do The Process For You?

Source: td.org

Not too sure if you can do the calculation on your own? Trying to get the best and most out of this case? If you are looking for lawyers who can help you with your injury and your case, brandonjbroderick.com is the right call! Their team works in groups and has an amazing track record of success. They have worked for years in car accidents, personal injury claims, and employment law and they know how to help people move forward after sustaining an injury that was caused by someone else’s negligence. Get the help & compensation that you deserve and enjoy a fair settlement with them! It is time to stop worrying about different outcomes and know that you won’t settle for less since you are in safe hands.

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