Injury Calculator for Personal Settlement
Auto Accident Claims Example
The best way to understand how to use an injury calculator for your personal settlement, is to look at an example of an auto accident injury claim.
Tiffany, who is 26 years old, was driving to work with a co-worker on a Monday morning. While crossing an intersection, Tiffany's vehicle was hit on the driver's side by another driver.
The other driver was speeding at 60 mph and failed to slow down for the STOP sign.
The police arrived at the scene and talked with Tiffany, the other driver, and the witnesses present at the accident scene. The police noted in the car accident report all the statements and that the driver failed to follow the traffic law.
At the car accident scene, Tiffany used her cell phone camera to take lots of pictures of the damage to her vehicle. Tiffany was unable to drive her vehicle after the crash and her car was towed away to a nearby garage.
After the accident, Tiffany's right shoulder felt extremely sore and she felt stiffness in her neck. She went to the hospital to get treatment for her injuries. The doctor's report showed that she had a separated shoulder and ligament sprain in her neck. The doctor gave Tiffany an arm sling to rest her shoulder and prescribed her some anti-inflammatory medication.
As a result of her injuries, Tiffany missed the next 5 days of work before returning the following week. Tiffany also had to use a rental vehicle for 2 weeks while her car was being repaired.
Here is how Tiffany's total cost broke down:
- Doctor's Bill:$500
- Prescription Medicine:$30
- Arm Sling:$20
- Total Medical Costs:$1,050
- Vehicle Repair:$2,000
- Rental Vehicle:$300
- Total Vehicle Cost:$2,300
- Daily Income:$100
- Lost Income (10 Days):$1,000
Now, how much is Tiffany's personal injury settlement going to be worth?
The Injury Calculator for Personal Settlement
Let's see what Tiffany can potentially get using the injury calculator for personal settlement. (The formula that is used to calculate the final amount is discussed in Personal Injury Settlements Calculator )
Pain Multiplier X Medical Bills + Lost Income
[1.5 - 5] X $1,050 + $1,000
$2,575 - $6,250
This is the range that Tiffany's personal settlement falls in using the injury calculator for personal settlement.
Now let's look at how Tiffany get her personal injury settlement falls on the higher side of this range.
Step 1. How Much Liability Can She Prove?
This is the first question to ask after using the injury calculator for personal settlement. The range Tiffany calculated is what she can potentially get from the auto insurance companies. The amount she actually gets depends on how proof she has that the accident wasn't her fault.
For example, let's assume that Tiffany's injury settlement is worth $5000 and the other driver is 100% at fault for her car accident. Then her settlement would be worth the full amount of $5,000. However, if the other driver was 50% at fault, then her settlement would be cut in half to $2,500.
Tiffany has several pieces of evidence in her favor.
- The pictures of the her car crash show that the other driver was driving faster than the posted speed limit of 25 mph.
- She has several witnesses that saw the other driver cross the STOP sign and can corroborate her story.
- She has a favorable car accident report that states the driver violated the traffic laws.ated a traffic law.
Having all this information makes a strong case against the other driver. This makes sure that Tiffany gets the full range of her settlement calculated using the injury calculator.
Step 2. How Much is Her Pain and Suffering Worth?
There is no formula to determine the amount of Tiffany's pain and suffering. However, there are a few things we can look at.
Tiffany's pain and suffering will be determined by looking at:
- The type of injuries she suffered.
- The type of treatments she received.
- The length of time for her recovery.
Tiffany's injuries were "soft injuries" to her neck and shoulder. Her injuries also didn't require any invasive or long term treatment.
However, she did have to wear an arm sling and was prescribed pain medication. She also was unable to return to work for one week. This shows her injuries were continuous and more than a mild sprain.
Step 3. Getting More Money from the Injury Calculator for Personal Settlement
Since Tiffany's injuries were slightly more severe than a simple sprain and less serious than a "hard injury" (ex: broken bones, lost limbs), her settlement factor would be close the medium value of 3.
This would result in settlement figure being
3 X Medical Costs + Lost Income
3 X $1,050 + $1,000
Tiffany's property damages are not included in the injury calculator for personal settlement because they are handled separately through a property damage claims.
The amount of your property damage is added to the final figure you receive from the personal injury calculator.
For Tiffany's Case this would result in:
Personal Injury Settlement:$4,150
This is the final amount of what Tiffany's would be worth. When Tiffany decided to state her claim through a through a demand letter, she will raise the final injury settlement amount by 80%-100%. This means she would ask between $11,610-$12,900, from her personal injury settlement. This will give her more room to negotiate with the insurance claims adjuster.
When you are trying to use the injury calculator for your personal settlement, you should realize that this is only a "ball park" figure of what your claim should be worth. The important thing to note is the factors that go in determining your final amount. If you understand that, then you can be best prepared to get the most out of your personal injury settlements.
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