Adjust Formula Settlement For Free

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.

Total your medical and other special damages. To use the multiplier method to calculate your general damages, you must first total your past and estimated future medical expenses. This total will then be multiplied by a value ranging from 1.5 to 5.

The difference between general damages and special damages is that the former is initially quantified by the person making the claim, while the latter is assessed by the court.

The median payout for a personal injury lawsuit is approximately $52,900. For most victims with moderate injuries, like broken bones, sprains, and whiplash, the payout ranges from $3,000 to $10,000. However, extreme injury and mental suffering has helped some victims earn millions.

Insurance companies determine settlement amounts by looking at three factors: liability, damages and the terms of the insurance policy. In order for an insurance company to offer a settlement, liability must be clear.

The basic formula insurance companies use to calculate auto accident settlements is: special damages x (multiple reflecting general damages) + lost wages = settlement amount.

There is no such thing as a typical fair settlement for a car accident, but it should, at the very least, cover the medical and repair bills you incurred because of the accident.This amount will vary from person to person and case to case.