A settlement calculator provides possible estimated amounts that a defendant could offer to settle a personal injury or wrongful death lawsuit. If you have been injured, you may be eligible to file a legal lawsuit to recover medical costs and lost wages. Use our settlement calculator to determine estimated compensation after an accident. Unfortunately, the law does not provide a specific method or formula for determining the amount you are owed. Instead, personal injury damages are based on a combination of actual expenses and compensation for pain and suffering.
There are many factors that need to be considered when determining how much you are owed. When estimating the value of an injury claim, many attorneys and insurance companies use a mathematical formula to estimate the value of an injury and determine a starting point for their negotiations. When determining the amount of special damages to be reimbursed in a lawsuit, you'll have to be more precise: a recent case in California (Howell vs. Working with an experienced personal injury attorney can be crucial to accurately assess the potential value of a claim, providing information about how specific details of the case may affect the outcome of the settlement.
It may be a good idea to talk to a personal injury lawyer about the details of your case before filing any lawsuit for settlement. To fully understand how these types of formulas work during negotiations to reach a personal injury settlement, you must learn the basics of damages and compensation. The library has several resources that you may find useful in evaluating your situation and calculating damages, including “How to Win a Personal Injury Claim” from Nolo Press, which includes a very detailed chapter on how to determine the value of your injury claim, as well as tips for negotiating a settlement with the defendant. This is especially important when looking at the different statute of limitations for filing a claim and the impact of negligence on a potential settlement.
But once the multiplier is used to arrive at a general damage figure, adding that number to the total of the special damages will give the insurance adjuster (and you) a rough idea of the value of your claim or, at least, a starting point for negotiating the settlement of the injuries. The value of a personal injury settlement can vary widely, depending on the unique details of each case. It's also essential to keep in mind that settlement amounts are heavily influenced by factors such as the at-fault party's insurance limits, the strength of the evidence, and the laws of the jurisdiction. The first step in negotiating a settlement for a car accident or personal injury claim is to calculate a reasonable amount of money you would accept to relinquish your legal claim.
When determining the amount of special medical damages for negotiation purposes, many attorneys and insurance companies will use the amount billed, even if the medical bills were covered by insurance or if, as is very common, the medical provider and the insurance company ultimately agree on a reduced amount. With a contingency fee, your attorney will receive a percentage of the total settlement amount as fees, but only if you win your case and receive a settlement or a jury judgment. It provides a rough estimate and is often used as a starting point for settlement negotiations with insurance companies or during legal proceedings. If you or someone you know is interested in filing a claim for a personal injury or wrongful death case, the settlement calculator above can serve as a starting point to better understand the potential dollar value of your case and your legal rights.