Car Accident Settlement Calculator

In the unfortunate instance that you’re injured in an accident that isn’t your fault, you may be entitled to financial compensation. The average payout for a personal injury claim varies on a case-by-case basis, depending on economic, as well as non-economic, losses, also referred to as damages. Determining loss is a complicated process. Insurance companies and personal injury lawyers utilize settlement formulas to help victims of personal injury and car accidents establish a reasonable amount of financial compensation deserved, using that dollar amount to negotiate recovery.

Chances are that if you’re utilizing a personal injury calculator, you’ve already experienced pain and suffering due to the negligence of another. The dedicated and experienced lawyers at DJC Law will fight to help you recover the damages needed to get your life back on track. Contact us today for a free consultation.

Car Accident & Personal Injury Settlement Factors

When calculating a settlement value, four main factors are taken into account when ascertaining the loss and suffering experienced by a victim. 

Medical Expenses

This refers to the cost of medical treatment and diagnostic fees related to your injury, whether that’s right after the injury or months/years later. These fees can include but aren’t limited to, hospital bills, ambulance service, diagnostic changes, prescription medications, expenses for surgery, and physical therapy. 

Property Damage

Property damages are typically considered when the personal injury claim involves a car accident. If you were in a car accident that wasn’t your fault and you were injured, you can also include the cost of repairing your vehicle to your personal injury settlement claim. For most other personal injury claims, property damages can be listed at zero. 

Lost Earnings

If your injury has impaired your ability to work or earn a living, lost earnings can be factors into your injury settlement value. This includes wages that were lost immediately after the injury, as well as future lost wages as you wait for your injury to heal or if, perhaps, you won’t be able to continue in the same line of work at all. Details such as age, skill, profession, and life expectancy are used to calculate future lost wages.

The Multiplier 

Not all losses are so easily calculable. General pain, suffering, and anguish after an incident, for instance, cannot amount to a simple dollar amount. When calculating the value of a personal injury settlement, the multiplier helps account for those non-economic losses by multiplying the sum of the economic losses listed above. Multipliers are typically around 1.5 but can range from 1 to 5 depending on the severity of the injury. 

The following factors can increase the multiplier:

• Traumatic brain injury
• Damage to the nerve and spine
• Permanent loss or reduced functionality of a body part
• Permanent disfigurement or scarring
• Injuries that cause the victim to have increased dependency on others
• Injuries that cause the victim to miss out on things they’d otherwise be able to do, such as attending school or missed vacations

Common Personal Injuries That Deserve Financial Compensation

Personal injury law is in place to protect victims who’ve experienced suffering at the fault of another. While the court system can’t undo the harm that’s been done, it can ensure that those who’ve been injured receive compensation to make up for lost earnings, medical expenses, and other pain and suffering experienced. Common types of accidents that fall under personal injury law include:

• Car Accidents
• Drunk Driving Cases
• Pedestrian Injuries
• Trucking Accidents
• Bad Faith Insurance Claims
• Defective Products
• Slip & Fall Injuries
• Medical Malpractice
• Workplace Injuries
• Child Injuries
• Construction Accidents
• Wrongful Death

How Does a Personal Injury Claim Calculator Work?

A personal injury claim calculator helps provide an estimate of the potential value of their claim, which includes the economic and non-economic damages. It’s a great tool to figure out rough estimates and use that figure to negotiate and argue with the at-fault party. 

Work Method of the Personal Injury Claim Calculator

• Economic Damages: This includes the medical expenses, lost wages and damage done to the property. This figure is then multiplied by a chosen number representing the pain & suffering. 

• Medical Expenses: Add all the hospital bills, medicine costs (existing and for the future), surgeries, therapy, and all future treatments. This is most probably one of the biggest numbers in the auto accident settlement calculator process. 

• Lost Wages & Earning Capacity: The settlement number won’t stop with your health and property damage claims. You are going to miss work due to the accident, or you can’t even return to your existing job, which is a crucial factor and can alter your life. Hence, it’s important to add the right amount when calculating. 

• Pain & Suffering Multiplier: When using a car accident payout calculator, typically a number between 1.5 and 5, the pain and suffering multiplier is instrumental in calculating the right amount compensating for physical and emotional distress.

When using an auto accident settlement calculator, there are a few limitations, such as;

• It cannot account for the specifics of the case and determine the factors that can change liabilities or even cause disputes. 
• The insurance companies outright reject the car accident calculator and undervalue your claim. 

But rest assured, as long as you are associated with DJC Law and use our personal injury calculator, you will get the best possible estimate when seeking compensation for damages. 

In addition to using the calculator, we gather evidence from different sources to prove liability and maximize your claim. We also talk to medical experts while using the slip and fall settlement calculator to ensure you are adding the right numbers and not missing any injuries. 

DJC Law attorneys aggressively negotiate with the insurance companies, restricting them from using such tactics and bringing them evidence to support our numbers and the usage of personal injury calculators.

What Factors can Decrease or Increase the Settlement Amount?

Several factors can influence the figure analyzed by the car accident payout calculator, including;

• Severity of the Injury: Serious injuries will lead to higher settlements as there are increased medical costs, longer recovery time, lost wages for a long time, and the possibility of never returning to work. In essence, injuries with long-term effects will get a higher settlement amount.
• Time Required for Treatment: Some injuries, like brain damage, spinal cord damage, etc., will need complex treatments and after that, longer rehabilitation times. When using a car accident settlement calculator such factors will naturally lead to a higher amount.
• Impact on Daily Life: As some injuries can impact a person’s ability to work and even perform daily chores for some time or forever, receiving the right compensation for this loss is justified. In case the injury leads to a permanent disability, the slip and fall settlement calculator will naturally increase the amount.
• Shared Fault: According to the Texas Modified Comparative Negligence Rule, if you are also found at fault in a personal injury accident, the settlement amount can be reduced. The rule strictly says if you are at less than 51% fault, it’s possible to recover damages. But if you are at more than 51% fault, you cannot recover damages. 

DJC Law brings along years of experience and expertise in fighting personal injury claims inside and outside the court. We have also built a car accident settlement calculator you can use for free to find a ballpark figure for seeking claims.