How Accident Lawyers Calculate a Settlement for You
There's no set formula for calculating a settlement amount for someone injured in an incident. As shown in this video, each case is unique. The same accident can impact one person's life in an entirely different way than another's.
To calculate someone's settlement after an accident, the accident injury attorney will consider two things - special damages and general damages.
Special damages compensate the injured party for actual damages.
They're easier to compute because they include set dollar amounts. These include property damage, lost wages, and medical bills (both past and future).
General damages, often referred to as pain and suffering, are a bit more difficult to calculate. These injuries come in all different shapes and sizes, including mental anguish, anxiety, and loss of love and companionship.
When calculating a settlement, an accident injury attorney will consider the severity of the injuries, how it's impacted the injured party's quality of life, and their predicted quality of life moving forward. A multiplier is used to determine a fair and reasonable settlement. While their life may not look the same as before the accident, the settlement should help them adjust to their new normal.
