If you suffer a personal injury, you will need some compensation. But how do you determine the compensation you should get? This is where the personal injury calculator comes in to estimate the compensation. The compensation refers to the total amount you are willing to accept from the guilty party for you to give up your legal claims. However, this isn’t legal advice, and that is why you need a personal injury attorney for more clarification. You can contact Bayonne Personal Injury attorney at the Law Offices of Anthony Carbone.
Why You Need a Personal Injury Calculator
As the plaintiff, you can decide to negotiate for compensation when you have a personal injury, especially after you receive the first medical bill. You will need to bring a negotiating amount to the table. But how will you estimate a sufficient amount while you are still undergoing treatment meaning there will be future medical bills? Here, a personal injury calculator becomes useful. It will help you add up the expenses you already know and those estimated to a certain point.
However, it is good to understand that the calculator is only an initial plan and may not determine the final settlement amount. Other several factors can also influence the amount.
What You Need to Put in Mind When Using the Calculator
Note that despite what type of accident you suffered, the personal injury calculator is vital provided you have incurred an injury or a loss. Whether it is a slip and fall accident or a motorist accident, it doesn’t matter. You can use the calculator irrespectively.
Note also that the calculator has five distinct categories that enable you to insert due amounts. They include:
- Medical care includes the total medical bills incurred right after the accident.
- Future medical in cases covering long-term injury treatments.
- Lost earnings that cover compensation for not being able to work immediately after the accident.
- Future lost incomes covering compensation for inability to work as a result of long-term injury treatments.
- Damages covering strictly the assets damaged in the accident.
When it comes to the final amount you receive as compensation, please note that the calculator’s amount may not be the value you get at the end. Several factors can minimize this amount, including the insurance company’s calculations or the defendant’s reasonings to pay less. This is why it is essential to seek professional legal aid.
Calculation Methods
The calculation for special damages should be straight forward. The standard methods used to estimate your claim’s value using the personal injury calculator include the multiplier method and the daily rate method.
The multiplier method is also the most common method used by insurance companies where all the special damages are added and multiplied by a number between 1.5 and 5. Note that the highest number can only be used in severe cases where the impact caused is catastrophic.
Injuries Included in the Calculations
Two main types of damages can be experienced in a personal injury; physical injuries and emotional and suffering. However, when calculating the personal injury value, the degree of physical injuries is more considered. Physical injuries can be soft tissue injuries or hard injuries.
A personal injury calculator is a vital tool in estimating your injury compensation amount. However, to understand more about the calculations, please have a personal injury attorney who can help you through the process.