The first thing you will want to understand after an accident are what types of damages you may look forward to receiving. There are special damages, which are the measurable amount of money you lost and will continue to lose due to negligence stemming from an accident. This can include medical bills and lost wages. General damages, on the other hand, are losses that you have endures and will continue to endure in the future that are much more difficult to calculate. They are often a point of contention and include things like pain and emotional trauma. So how are these types of damages calculated?
Special damages are pretty straightforward. You simply add the bills together as well as other tangible losses you incurred and will continue to. Special damages will include a dollar amount of past and future lost wages, medical bills like therapy, out-of-pocket expenses like medications, and lost or damaged personal items.
As far as calculating general damages goes, they are a bit more difficult to assess. This is because they are highly subjective and personal. A good personal injury calculator program doesn’t exist and just go under the heading of Pain and Suffering. They include emotional distress, physical aches and pains, anxiety and depression, loss of consortium, inability to concentrate, and persistent sleep loss. Your pain and suffering will be unique to you just like another person’s will be unique to them. This goes hand in hand with the fact that the same injury you sustained may prevent one person from doing their job even if it doesn’t prevent you from yours. You will need to make a demand letter for these damages, so make sure they include everything you need it to.
How Does a Damages Formula Work?
An insurance adjuster plays a huge part in a claim. First, at the initial start of a claim negotiation, the adjuster will add up the total medical expenses related to the injury. The adjuster will multiply the amount of special damages by about one-and-a-half to three times when the injuries are minor, and up to give times when the injuries are painful or long lasting. This is to figure out how you will be compensated for things like pain and suffering, permanent disability, and emotional damages. After an amount is decided upon, the adjuster will add on any income you have lost as a result of injuries.
Insurance adjusters will typically never reveal their formula to you. They will probably never mention that they were using a formula at all. This revolves around the fact that they use a special set of negotiations that follows guidelines of not allowing you to know what they are thinking. In the end, you should just negotiate total settlement amounts and focus on nothing other.
What Else Should I Know About a Damages Formula?
You should always keep two points in mind when you are thinking about damage formulas. The first point is that a figure is arrived at by multiplying special damages is only the starting point for reaching your settlement amount. The second point is that the starting formula could vary, so you should remember that it may be different numbers depending on which end of the multiplier spectrum is applied to the claim. Also keep these things in mind:
- The more painful your injury, the higher end of the formula is used. The same can be said for if it is invasive, if the medical evidence is more obvious, your recovery period is longer, and it is more serious and visible.
If you have sustained an injury and believe you are entitled to compensation, you should always first speak to an attorney. They have the experience to assess your case and answer all your questions.Call WTW today for a consultation!