Personal Injury Calculator – Using a personal injury calculator lets you see how much your accident claims are truly worth. Below are the top 5 questions people ask about determining the exact value of their car insurance settlement.
Top Five Questions Regarding a Personal Injury Calculator
- 1 Top Five Questions Regarding a Personal Injury Calculator
- 1.1 1. So How Exactly Does the Personal Injury Calculator Work out my Auto Accident Claim?
- 1.2 2. When Should You Use a Personal Injury Calculator?
- 1.3 3. Who Should Avoid Using the Personal Injury Calculator?
- 1.4 4. How Precise is the Personal Injury Calculator?
- 1.5 5. Should I Use the Personal Injury Calculator?
- 1.6 Sebarkan ini:
1. So How Exactly Does the Personal Injury Calculator Work out my Auto Accident Claim?
The standard formula that is well known to be administered for auto accident injury claims is:
Pain Multiplier X Medical Bills + Loss of Wages
The “pain multiplier” is a number normally between 1.5 and 5. This multiplier number is chosen depending on the degree of your auto accident injuries; the more significant your injuries, the larger the multiplier.
YOU MAY ALSO LIKE ; personal injury calculator top 5 questions, colossus personal injury calculator, personal injury settlement breakdown, personal injury calculator california, car accident value calculator, settlement offer calculator free, best personal injury calculator, personal injury costs calculator
For instance, a minor injury like a sprained neck is more inclined to get a small multiplier (1.5-3). While a far more severe and excruciating injury, like a broken leg, would get the greater multiplier (3-5). The multiplier number might even go to higher numbers (10) for much more serious and permanent injuries.
The next element which is used in the claims formula is your medical bills, often called “special damages.” These bills include the price of your medical treatments, visits to the hospital, ambulance ride, X-Rays, pain medicine etc.
The last thing that is included in your insurance settlement is your loss of income. This refers to the total amount of take-home pay you missed because of your injuries.
For example, if you’re injuries caused you to stay at home from work, then your lost total wages would equal your daily pay rate times the amount of work days you had missed.
2. When Should You Use a Personal Injury Calculator?
The most useful time to use the personal injury calculator is at the end of your medical treatment. You should always have your personal injuries thoroughly diagnosed and analyzed before filing an injury claim.
This provides you a more accurate estimate of your overall medical expenses that needs to be provided in your final settlement.
3. Who Should Avoid Using the Personal Injury Calculator?
A lot of personal injury claims involve minimal injuries that don’t require you to immediately hire an expensive lawyer.
For these particular claims, you may use the injury calculator to get a basic estimate of what your auto accident settlement could possibly be worth.
Nonetheless, there are insurance claims which can’t be handled without the help of a competent injury lawyer.
Each of these auto accident claims involve serious and long-term injuries like irreversible disabilities, lost or severed hands or legs, painful head injuries etc.
If you were significantly hurt, your best course of action is to talk with a lawyer who is familiar with claims related to your particular injuries.
4. How Precise is the Personal Injury Calculator?
The injury calculator doesn’t give you the exact closing settlement, but a first estimate of the amount your injuries are really worth to the insurance companies.
Most of us would argue that the injury calculator is too simplistic. That it does not cover the intricacies and subtleties of an individual’s personal injury claim.
Other people are quick to mention Colossus, a complicated software program used by the insurance companies to evaluate insurance claims.
Having said that, the main advantage of trying the personal injury calculator is not to tell you what will be your exact settlement amount.
The most important advantage is to help you recognize how your specific settlement amount will be calculated.
The settlement calculator emphasizes that the range of your final settlement amount will be generally based on:
- The significance of your personal injuries
- Your overall medical expenses.
- Your lost wages
These are going to be the primary elements in your injury settlement no matter which specific software package you use.
5. Should I Use the Personal Injury Calculator?
You will always have the opportunity of hiring a lawyer further down in the claims process. The safest advice is to use the settlement calculator to get a fast analysis of what your auto accident claims can be worth.
Learn more tips to increase your car accident claims and personal injury settlements
YOU MAY ALSO LIKE; car accident yesterday, car accident settlement, car accident michigan, car accident wisconsin today, car accident insurance claim settlement, motor vehicle accident today, car accident settlement philippines, car accident injury claim process