Injury Compensation Claims for an Auto Accident
If you are not sure on the steps to take to file for a car accident, you can contact attorneys online to help you. If you had no role to play in the occurrence of the accident, it is your right to be compensated. The amount of compensation to demand for should be reasonable with the injuries you sustained or losses incurred.
It is not easy to determine the right amount of compensation to ask for. You need to use your judgment to determine whether a settlement amount is fair. Generally, you should ask for compensation for all the expenses you incurred as a result of the accident. These expenses can include the cost of repairing your damaged vehicle, cost of medical checkup, purchase of medicines, hospital bills and so on. If you were badly injured and missed work, you can also ask for compensation for loss of income.
Another type of compensation you should request is for injuries that are not related to monetary losses. These injuries may not be able to be defined well by placing a dollar figure on them, but they may have caused you significant physical and emotional damage. Examples of such losses include pain and suffering, mental anguish, physical pain and others. To calculate the value of these losses, you will have to rely on a multiplier.
A multiplier is an actuarial digit that is used to calculate the value of non-economic losses in monetary terms. The multiplier is a percentage number that is simply multiplied by the total economic losses a person may have suffered. For instance, if the insurance company uses a multiplier of 14% and your total economic losses were $5000, then the total compensation you will get will be (5000x0.14) + 5000 = 5700. This is a simplistic example of how a multiplier is used to calculate the monetary value of non-economic losses using personal injury claim calculator.
The insurance company will determine the multiplier to use to calculate your compensation. This multiplier is not set by the law and can be adjusted to your favor if you have negotiating skills. Alternatively, you can hire an attorney to handle the negotiation on your behalf. An experienced attorney will know how to present your case to the insurance company to get you the best settlement.
You can get an idea of how much you are eligible for by using an online personal injury compensation calculator. Using the personal injury compensation calculator is a good way of educating yourself on how the attorney or insurance company will be calculating your settlement.
