car accident settlement calculator

Posted by Bob Edens & filed under Personal Injury Lawyer .

The damages from an accident may seem unreal when they are reduced to numbers on a page. However, a car accident settlement calculator can give you a ballpark figure to determine if your case is worth pursuing. It would help your Woodstock car accident lawyer determine a figure they can fight for on your behalf if the other driver was at fault.

How a Settlement Calculator Works

The software that powers a settlement calculator is based on a simple formula that is a close-kept secret in insurance companies. Insurance adjusters use these to process claims, and no two may be alike. Some of the data these calculators rely on include info regarding:
  • Medical treatment.
  • Pain and suffering rate.
  • Property damage.
  • Lost earnings.
  • Impact on lifestyle.
Some calculators are designed to use a multiplier method. This tactic multiplies the value of economic damages (such as property damage and medical bills) with a number between 1.5 and 5 to determine pain and suffering. For severe injuries, the factor can go as high as 6 to 10.

When Settlement Calculators Don’t Work

Settlement calculators are an easy and quick way to figure out what an accident claim is worth and what your Woodstock car accident lawyer should consider. However, each case is different. The calculator's results may show figures less than what your claim is worth. Even if someone got into a similar accident, they might get a different settlement amount from yours. Some of the factors that affect the settlement amount include:

Severity of Injuries

If your injuries are life-threatening or severe enough to merit a hospital stay, you may receive a higher settlement than if they were minor. Insurance companies don't want to be sued, so they may try and settle out of court if your claim is valid.

Number of Medical Bills

Insurance companies also look at how many medical bills a claimant has accumulated post-accident before considering a settlement. Naturally, a large number will increase the settlement amount. You should be reimbursed for the maximum amount or all of it.

Recovery Duration

If you sustain injuries that require months of rest and treatments to heal, you may be entitled to a higher settlement. The at-fault driver will have to pay for the bills, the wages you may lose out on as you recuperate, your pain and suffering, and other damages that an experienced Woodstock car accident lawyer deems necessary. At this point, you need a car accident attorney in your corner who can ensure the insurance company and the defendant don’t coerce you into a lower settlement than you deserve.

Contact The Law Offices Of Robert T. Edens For A Consultation Today!

At The Law Offices of Robert T. Edens, we have been fighting for the rights of accident victims such as you for more than two decades. Our Antioch car accident lawyers are well-versed in personal injury cases as it is our main focus. If you or someone you know has been injured seriously in a car accident and the insurance company is being uncooperative, contact us today. We can develop a legal strategy to ensure you get the maximum settlement you deserve.