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How do you calculate damages?

How do you calculate damages?

To get a reasonable starting number for negotiating general damages, many insurance companies and attorneys multiply the amount of medical special damages by a factor of 1.5 to 5, depending on the severity of the injuries. In extreme cases, a factor of more than 5 may be used.

How is fair settlement amount calculated?

Multiply the total of your special damages by one or two to get a fair estimate of your pain and suffering value. Most insurance companies will accept a multiple of one or two times your specials for mild to moderate injury claims.

How much should I ask for damages?

A general rule is 75% to 100% higher than what you would actually be satisfied with. For example, if you think your claim is worth between $1,500 and $2,000, make your first demand for $3,000 or $4,000.

How is damage calculator used to calculate compensations?

This damage calculator can be used for estimating the compensations you may obtain after you suffered a personal injury. The total amount represents the value of the compensations you would accept from the guilty party in exchange to giving up your legal claim.

How are special damages calculated for medical bills?

The calculation method for the special damages is, in most cases, straightforward, and the insurance company will most likely reach a similar settlement value based on the same medical bills you’ve used to calculate the damages.

Why are general damages more difficult to calculate?

General damages are more difficult to assess because there is no objective measurement for your suffering. Each personal injury case is different. Your pain and suffering can never be the same as another’s. Two people can sustain exactly the same injury, but one person may experience greater pain than the other.

Is there a formula to calculate an injury settlement?

There’s no special formula to calculate the perfect amount. Every injury claim is different. Your settlement depends on the unique circumstances leading to your injury. It’s important to know about valuing your medical costs, lost wages, and emotional distress.

This damage calculator can be used for estimating the compensations you may obtain after you suffered a personal injury. The total amount represents the value of the compensations you would accept from the guilty party in exchange to giving up your legal claim.

General damages are more difficult to assess because there is no objective measurement for your suffering. Each personal injury case is different. Your pain and suffering can never be the same as another’s. Two people can sustain exactly the same injury, but one person may experience greater pain than the other.

How to calculate the value of a personal injury claim?

This is true for a bodily injury claim in a car accident case, a slip and fall injury claim, or any other personal injury case. One common formula involves combining a multiplier (explained in detail below) and your total medical expenses to come up with an estimate of non-economic damages (which includes compensation for your pain and suffering ).

The calculation method for the special damages is, in most cases, straightforward, and the insurance company will most likely reach a similar settlement value based on the same medical bills you’ve used to calculate the damages.