When you receive a settlement proposal from an insurance company that includes compensation for pain and suffering, how can you know it is a fair offer? After sustaining serious injuries as a result of an accident that was no fault of your own, you should never have to settle low when it comes to collecting compensation for damages, especially for ones like pain and suffering.
Continue reading to learn more about reasonable compensation for pain and suffering, including how the law measures such damages and where to turn for dependable legal advice.
Defining Pain and Suffering
The phrase, “pain and suffering” is a common legal term used in personal injury practices to describe economic and non-economic damages and losses a person may experience after sustaining a serious injury or being involved in a serious accident. The term is meant to describe both physical and nonphysical harm that resulted from such trauma. Physical injuries include everything from flesh wounds and muscle injuries, to spinal cord injuries, nerve injuries, brain injuries, and more. Non-physical injuries include emotional mental trauma such as fear, anxiety, grief, worry, insomnia, a loss of enjoyment for one’s life, and more.
Insurance Compensation Formulas for Pain and Suffering
Although there is no resolute rule for how an insurance company must calculate pain and suffering, they generally rely on one of two primary methods to do so in a personal injury case: the Multiplier Method and the Per Diem method. The multiplier method is an approach that multiplies a victim’s actual damages, or economic damages, such as hospital bills and medical expenses, by a chosen number that usually lies on a scale between 1 and 5; a number that depends on the extent or scope of the injury.
For example, a woman breaks her leg and incurs $5,000 in total economic damages. Her legal team multiplies this value by 3 in accordance to the severity of her injury, thus bringing them to a conclusion that her pain and suffering can be reasonably estimated at $15,000. The Per Diem (or “per day”) method is an approach that essentially assigns a particular dollar amount to the victim’s pain and suffering. Then, this amount of money is paid to the victim every day from the actual day of the accident, and until they are fully recovered.
When suing for personal injury damages, a victim will generally seek compensation from the opposing party’s insurance company. The victim’s attorney will handle all communication directly with the opposing insurance company to come to an agreement on a full and fair settlement. If a settlement cannot be reached, then the case will go to trial. If this happens, the victim will need to prove that the opposing party is liable for their damages, and provide proof and evidence of those damages.
Talk to a Personal Injury Professional
It can be challenging providing evidence in order to prove non-physical injuries, it is necessary to have an experienced personal injury lawyer to navigate, negotiate, and settle your claim. They have the skills, experience, knowledge, and resources to ensure your rights to compensation, and to protect you from aggressive insurance adjusters and unfair settlements. Be sure to choose an Indianapolis personal injury attorney that has extensive trial and litigation experience.
Indiana Personal Injury Attorneys
Contact the Law Office of Craven, Hoover, and Blazek P.C. at 317-881-2700 to speak with a licensed accident lawyer in Indianapolis, Indiana. Attorneys Daniel Craven, Ralph Hoover, and Keith Blazek have extensive trial and litigation experience, and can recover the full and fair compensation you deserve after being injured in an accident. We represent injured persons throughout the State of Indiana. Contact us today to schedule a free initial consultation and have your case evaluated by a knowledgeable personal injury attorney you can trust.