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How Much Is My Case Worth?

“How much is my car wreck worth?” is a question that crosses many people’s minds after they’ve been in a car accident. The answer to that question is complex and multifaceted. Thankfully, Patterson Legal Group has extensive experience getting our clients maximum compensation from insurance companies. Here’s a breakdown of how insurance companies calculate their settlement offerings.

The Insurance Company Settlement Formula

Insurance companies use a settlement formula to calculate the overall damages awarded to the aggrieved party. While almost all insurers use the same settlement formula, most of them use it in different ways. The precise manner in which they use it isn’t expressly revealed, but the attorneys at Patterson Legal Group have worked with many insurance companies and are very familiar with their many nuances.

The insurance company settlement formula covers the following:

  • Medical bills and related expenses
  • Lost income due to missed work
  • Pain and suffering
  • Permanent physical disability/disfigurement
  • Loss of family
  • Emotional damages resulting from any of the above

Types of Damages Calculated by Insurance Adjusters

Medical special damages or “specials” are the first item calculated by insurance adjusters. This figure is calculated by simply tallying your medical bills and related expenses incurred after the accident. Specials are used as a base figure to calculate your overall compensation.

General damages include pain and suffering, emotional damages, and permanent disabilities. To arrive at a number for general damages, insurance adjusters multiply special damages. For minor injuries, a multiplier of 1.5 to 3 is used. For more severe injuries, 5 is a typical multiplier. However, in extreme cases, general damages can go beyond that.

Insurance companies often start settlement negotiations by offering general damages plus lost wages.

Let Patterson Legal Group Fight For You

As you can see, there is a lot of leeway in the insurance company settlement formula. Figures like medical bills and lost wages are objective and easy to quantify. Things like pain, suffering, and emotional damages are completely subjective. This is where insurance companies will try to undercut you by offering a low settlement and minimizing your experience. Do not let them take advantage of you! Let the attorneys at Patterson Legal Group fight on your behalf and win you a fair settlement.

Our staff has comprehensive experience working with insurance companies and a strong track record of getting maximum settlements for our clients. From the time you contact us, we’re committed to treating you with compassion and kindness. We will thoroughly document your records and work with top medical professionals in order to build you the strongest case possible.

Between our diligent lawyers, meticulous understanding of the insurance company settlement formula, and tireless work ethic, you can be assured of getting fair treatment following a car accident when you work with Patterson Legal Group.

Call us today for a free consultation at (888) 687-2400 or connect with us online to learn how Patterson Legal Group will fight to get the most possible compensation after a car wreck.

Tyler Patterson

About Tyler Patterson:

Tyler Patterson is a trial attorney with Patterson Legal Group, L.C., representing accident victims and their families. Tyler has developed an extensive network in the Kansas legal community. Patterson is a graduate... Read More »

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