After beginning the road to recovery following a car accident injury, one of the first questions you may have is how much you can be compensated for your unexpected medical expenses. The statistics insurers compile allow them to establish average values for specific claims, but it’s uncommon for any claim to match the exact characteristics of an average claim. A claim’s value depends on several different factors.
If you sustained a personal injury in a car accident, seek the help of Los Angeles Car Accident Attorneys at El Dabe Ritter Trial Lawyers to learn more about your legal options and file a claim to secure compensation.
Determining the Average Personal Injury Settlement
Insurance adjusters usually multiply special damages by a specific “factor” to value a personal injury claim. Special damages generally encompass a client’s financial losses arising from the incident. Financial losses include medical expenses and loss of wages because of the injuries.
The specific “factor” is the multiplier claims adjusters frequently utilized in combination with the value of the special damages. They use the multiplier to get a rough estimate of the worth of your total claim. Note that the estimate is simply a starting point and isn’t determinative of a final amount.
Typically, the adjuster will utilize a multiplier of two, three, four, or five to establish an estimate for your particular claim. Let’s say the sum of your healthcare bills and lost income from the car wreck is $6,000. If an adjuster multiplies that figure by a factor of three, then your claim would have an approximate value of $18,000. If the insurer adjuster uses a factor of maybe four, your claim’s value will be roughly $24,000.
By doing such calculations, the insurer is trying to predict the figure a jury may grant you if the matter goes to court.
What Variables Determine the Specific Multiplier to Use?
That question does not have a specific answer and it’s dependent on the particular circumstances of your case. In general, a lower value of medical expenses leads to the use of a lower multiplier, like one or 1.5. For instance, an amount of $550 suggests to the insurer that your personal injuries resolved following one visit to the doctor. Seeking only one session of medical care makes it seems that your injury wasn’t severe or healed fast.
On the other hand, if the medical bills are higher, like $60,000, the insurance provider concludes that you needed extensive treatment. For such as case, a higher multiplier of at least three may be used to determine the worth of your pain and suffering.
Other variables that might also impact your personal injury settlement’s value are:
- Did the injury result from the accident or did the incident aggravate an existing condition?
- Did you receive medical care immediately after the accident, or did you see the doctor several months after the collision?
- Was the medical treatment you received excessive?
- How old are you?
- What was the condition of the cars involved in your accident?
Contact El Dabe Ritter Trial Lawyers
Keep in mind that once your insurance provider gives you a figure for a personal injury claim, you can challenge it. You have a right to bargain with the insurer. Alternatively, you can make a lawsuit against a negligent person as a way to contest the settlement’s worth. Get in touch with El Dabe Ritter Trial Lawyers to discuss your options.