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Understanding Personal Injury Claims & Compensation Valuation

What is the value of my personal injury claim?

There are a lot of factors that go into determining the settlement amount for a personal injury claim. Insurance companies look over several factors related to your case to determine your claim’s value.

Liability & Damages – Who Pays and What Do They Pay for?

The person who is liable for the accident, and therefore their liability insurance company are required to pay the damages for your claim. Many of these damages have traceable expenses like bills and include:

  1. Medical Expenses
  2. Income Loss from Missed Work
  3. Permanent Damage & Disabilities
  4. Property Damages

 

Pain & Suffering – Overview

The value of some damages, like pain and suffering or missed experiences/opportunities is calculated differently than the traceable expenses. For these damages, many insurance companies will use one of two methods: the multiplier or the per diem method.

 

Multiplier method:

An insurance company that uses the multiplier method to determine the value of personal injury claim takes the traceable expenses and assigns a multiplier number based on the severity of the injury. Historically speaking, this number is usually between 1.5 and 5, and sometimes higher, if the damages are more severe. Some of the factors that determine severity are:

  1. How obvious the fault of the liable party is.
  2. Severity of the injuries
  3. Strong evidence to support the claim of pain and suffering (Verified Documentation)
  4. How long the recovery period will be.

 

Per Diem Method

The Per Diem (“By the Day”) method assigns a certain dollar value per day to be paid over a plaintiff’s recovery period, until they reach a point called “Maximum Medical Improvement.” This means you have reached a point where your condition cannot be improved anymore. If a doctor says it is going to take 150 days to reach maximum medical improvement, and the insurance company assigned a Per Diem value of $100, then your pain and suffering damages would be $15,000.

 

Pain & Suffering – Verification Process

An insurance company needs to verify any claims of pain and suffering. This is typically done by corroboration from medical professionals such as doctors, therapists, & psychiatrists as well as personal accounts from friends and family.

 

Settlement

Once an insurance company has calculated all the damages, they will make a settlement. If you are unsure whether the determined value of your personal injury settlement is high enough, you can always talk with an lawyer at the Scranton Law Firm. We provide legal advice for all personal injury cases, and our lawyers are here to fight for you if we believe you are being low-balled.

Call, Text or Email for a Free Legal Consultation

Contact our California personal injury lawyers for a free case review. Tell us about your injury and we will determine your next steps.

Scranton Law Firm Reviews

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I appreciate that they actually talk to their clients and explain how everything works!
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I want to take the time to thank Scranton Law Firm. All of their staff have been super nice with me and my family who were in need of legal assistance.
Jamie Retmier worked on my auto accident case and I got a good and fair settlement. My chiropractor was so pleased with their efficiency he dropped his attorney and got took his case to Scranton.
Jamie Retmier is the best! She worked with my insurance company when my car was declared a total loss. She worked with the other insurance companies and...
Lawyers that advocate for you and are knowledgeable in law.
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Thank you so much to Scranton Law Firm especially Roman Gomez. He made my case zero stress, fast and managed to get me a great deal after I was hit by another driver. The company was reluctant to pay for the amount but thankfully these guys are knowledgeable, just and were able to fight for my rights. - Hector Mejia
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Took my case and handled everything kept me in the loop as things progressed. Asked me what I wanted took my opinion into consideration and called me when the job was done.
Ask for Daniel Hoer, he makes it happen!
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Unfortunately I left a one star review for the wrong law firm, it was meant for Kuvara Law Firm.Mr. Louis G. Beary who is now in charge of my case has shown me more professionalism and take charge attitude which I find as an exemplary Attorney.
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In 2019 I was involved in an automobile accident where the other driver ran a stop sign. I suffered a breastbone fracture which left me with agonizing...
Jamie R has been so very helpful in settling my automobile claim. Thanks to her for her calm demeanor and responsiveness. It nice to have someone to take...
Very personable
Roman Gómez,y Erika Mendez excelente persona ,y el abogado louis g beary ,me ayudó en todo el momento en mi caso,se los recomiendo
Great law firm. They work really hard to get you what you deserve. I was so glad to have them on my side.
Bob has been an excellent source of professional meets personalization. He listens and focuses on what’s at hand, which is you! Highly recommend him to whomever is in need of top notch representation.
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Scranton Law firm did a great job with my case. All my questions were answered in a timely manner and always with a sense of urgency. My dad was recently in...
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Roman is awesome! He stays on top of things & keeps you updated. I’d recommend him to anyone! Thank you for helping me & always calling/texting back.
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Great people who have your interest inhand. They work hard for you and get results.Thanks againCharles A. Akers
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Case is pending. Hopefully this will remain 5 stars. But, thus far, they've been terrific.
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It was great to know I was in good hands. I could not of asked for more from the attorney that help us. I'd for sure refer Bill and Kristina out to anyone.
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