Personal Injury Claim Calculator
What was your degree of fault resulting in the injury:
Simply choose from the below options to calculate the personal injury claim.
Did you incur medical expenses after the personal injury?
Did you suffer lost income due to the injury?
Will you have a reduction in future income due to the injury?
Did you suffer any property/material damage?
Personal Injury Claim Calculator, Personal Injury Settlement Calculator, Compensation for injury, Calculate how much personal injury claim, Injury compensation calculator
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A personal injury claim can be initiated when an individual falls victim to some form of injury which could be physical or psychological due to the fault of some other person. The personal injury claim calculator can help you to estimate the amount of personal injury claim that you could be entitled to based upon information related to your personal injury case.
If an accident takes place due to to someone elses fault or negligence, the injured individual is entitled to claim personal injury compensation from the party at fault. The formula for calculating the personal injury claim is a little complex and the final personal injury settlement is based upon several factors related to each case.
Calculating Your Personal Injury Claim?
As mentioned above, each personal injury claim is based upon a unique set of circumstances and events that have a bearing upon the final claim amount. It is however important to get a basic idea of the expected claim amount. Below are some of the important factors that determine the personal injury claim value:
In the case of a personal injury, the party at fault must pay for the following:
Income lost during treatment and aftercare
Income lost due to the injury when the individual goes back to work (if at all).
Compensation due to stress, loss of experiences, missed special events, depression and anxiety.
The formula that most insurance companies use for calculating the damages starts with computing the medical special damages, which are the total medical expenses incurred as a result of the personal injury. This is used a base figure, to which are added the general damages, which relate to suffering, depression and other nonmonetary claims.
In the case of personal injury claim in which the injuries are not too severe, the formula used by insurance companies is:
personal injury compensation = (special damages x 1.5) + income lost as a result of the injury)
In the case of a personal injury claim in which the injuries are severe and lead to a lot of non monetary loss (such as stress, depression, anxiety, lost experiences etc.), the formula used by insurance companies is:
personal injury compensation = (special damages x 5) + income lost as a result of the injury
In the case of a personal injury claim in which the injuries are extremely severe and lead to excessive non-monetary loss (such as stress, depression, anxiety, lost experiences etc.), the formula used by insurance companies could even be:
personal injury compensation = (special damages x 10) + income lost as a result of the injury
Adjustment for claimants fault resulting in the injury:
The above formula is then reduced by the percentage of the claimants fault which resulted in the personal injury. For example if the compensation works out to $5000 using the above formula, and the claimant admits that he/she was 30% responsible for the accident occurring, the compensation figure would be reduced by 30%, hence amounting to $3500.