After experiencing a serious injury, you face a grueling recovery with potentially months of rehabilitation and significant medical bills. You’re ready to file a personal injury lawsuit and secure compensation for your damages.
To help you navigate your path to fair compensation, we’ll explain how to calculate personal injury settlements and answer some of the questions plaintiffs often have as they begin their recovery.
Pennsylvania Law and Injury Claim Calculations
Personal injury damages compensate the person for their monetary losses, emotional damages, and potential future losses, which can complicate the calculation process if you’re researching your potential claim value.
Damages in personal injury cases generally fall into one of two categories:
Objective Damages
Objective damages related to the tangible cost of your accident injuries and generally have documented proof with receipts, medical records, and a clear timeline.
Potential objective damages include:
- Medical bills
- Loss of employment or wages
- Future earning potential losses
- Funeral costs
Subjective Damages
Subjective damages are those based on the degree of injury and the circumstances of the specific case. Securing fair subjective damages requires the skilled guidance of a personal injury attorney with experience advocating for injury claimants and achieving compensation for the intangible emotional costs of personal injuries.
Potential subjective damages include:
- Pain and suffering
- Loss of enjoyment in life
- Emotional trauma
- Loss of companionship
The Multiplier Effect and Pain and Suffering
The Multiplier Effect is a tool that forms a tangible value for a person’s pain and suffering after an injury. Using the Multiplier Effect, your lawyer will take a number between 1 and 5 and multiply the number by your tangible objective damages to calculate pain and suffering damages.
For example, if you suffer significant injuries in a car accident and your medical bills are $40,000. Your injury lawyer may then determine, after consulting the evidence and reviewing your case, that a multiplier of 3 represents fair value. You would begin your case with a settlement demand of $120,000.
Factors that determine the multiplier amount include:
- The length of your recovery
- The impact of the injury on your quality of life
- The severity of the injury
- Your family’s suffering as a result of your injury
- You have a lifelong disfigurement due to the injury
- Is the other party 100% responsible for your injury?
While the multiplier method is subjective and leaves room for negotiation, personal injury lawyers and insurance companies both harness the method to settle claims, so the tool acts as a neutral platform to negotiate damages.
How Can I Protect the Value of My Personal Injury Settlement?
While your injury lawyer will undertake the negotiations with the insurance adjuster, there are steps you can take to help protect your claim both before negotiations begin and during the negotiating process. The following steps can help protect your settlement value:
Don’t Hold off Treatment
While medical costs might impact your finances, don’t hold off on treatment for fear of incurring
more medical debt.
Document Your Injuries and Your Recovery
Your photo and video evidence will be crucial in your personal injury settlement. Take photos and film your injuries throughout the recovery stages. Beginning the documentation process from the first day of your injury gives you the best evidence to support your claim.
Confirm all Insurance Requests with your Personal Injury Lawyer
During the settlement calculation and negotiation phases, the insurance adjuster will do all they can to limit your settlement. If you receive a phone call or email from the insurance company, ask them to speak with your lawyer before confirming any details.
Don’t Discuss the Case Online
Many personal injury victims lose cases due to a social media post that the insurance company could argue negates the value of a personal injury case. Use social media sparingly during your case, and don’t discuss your injuries with anyone other than your doctor, your personal injury lawyer, and your closest family members.
Call Personal Injury Lawyer Jeffrey Penneys for Help Calculating Your Personal Injury Damages
Your personal injury lawyer is your trusted advocate throughout the personal injury settlement process – from filing your claim to the date you receive your settlement check. When you need urgent help for a personal injury claim, you can depend on Jeffrey Penneys.
Jeffrey Penneys has over 25 years of experience in personal injury claim negotiation and analysis. As one of the highest-rated injury lawyers in Philadelphia, he’s known for his calm, focused approach to service and ability to handle complex injury cases with pinpoint professionalism for exceptional results.
Discover the potential value of your injury claim today. Request a free case review with Jeffrey Penneys by booking online or calling (215) 771-0430. Your free consultation can be conducted online, by phone, or in person.