Determining the Value of Your Personal Injury Claim

by Clearwater Personal Injury Lawyers Tragos & Sartes

When people suffer a personal injury, they likely deserve to file a claim and receive some damages. When people file a personal injury claim with their insurance company, the insurance company follows certain steps to determine how much the claim is worth.

Obtaining an exact dollar amount is not an easy task and cannot be done completely precisely. As a result, insurance companies use a formula to decide how much a claim is worth. First, the company sums all of the medical damages. Afterwards, the insurance company uses that number to decide how much to pay for nonmonetary or general damages, such as pain and suffering.

Afterwards, the company chooses a multiplier to multiply the monetary number by. If the Injuries sustained are small, the number may be 1.5 or 2. With larger injuries, it is around 5, and in “extreme” cases it can even be 10. Finally, any lost income is added to that number.

This number is not what is necessarily paid, however. The injured individual then negotiates with the company to determine what percentage of the injury was caused by the injured person and what percent was caused by the insurance company’s client. For example, if the client caused 50% of the injury, the injured person receives 50% of the monetary amount.

Contact a Clearwater Personal Injury Lawyer

Dealing with personal injury claims and problems can be a tough process. For more information, contact the Clearwater personal injury lawyers of Tragos & Sartes by calling 727-441-9030.