When dealing with a personal injury settlement, pain and suffering can be some of the hardest to calculate. This is because it involves claiming compensation for damages that cannot be assessed with the eyes. Even so, there are two ways you can use to help you calculate how much you can get for pain and suffering.
You can choose to go with the multiplier method or the per diem method. Both are quite effective and can be presented in court to help you get a reasonable settlement amount. Below is a comprehensive guide to these methods.
What is Pain and Suffering?
As the name suggests, pain and suffering is a term that is used in a personal injury case to describe a range of emotional and physical consequences from an accident. Pain and suffering falls under the category of non-economic damages. Notably, unlike other types of compensation, these damages do not cover vehicle repairs, medical bills, or lost wages.
Instead, it provides compensation for physical pain experienced by individuals due to the accident. It also accounts for emotional trauma from the time of the accident, either due to the injuries or the accident itself.
Methods of Calculating Pain and Suffering
- Per Diem Method
The first method for calculating pain and suffering is per diem. It assigns a certain amount for every day you endure the effects of your injuries. For instance, if the per diem rate is $100 and your recovery lasts 14 days, your pain and suffering claim would be $1,400.
However, this method may not be suitable for individuals without employment or with unstable income. Additionally, it may not be enough for permanent or long-term injuries like PTSD.
- Multiplier Method
The multiplier method is one of the most common techniques used to calculate pain and suffering. It involves multiplying your damages by a predetermined factor. The factor typically falls between 1.5 and 5. It is determined based on several factors, such as the severity of your injuries and the impact of the condition on your daily life.
What Can You Do with the Details Received from Calculating Pain and Suffering?
The details you receive from utilizing the above methods can prove to be quite helpful in numerous ways, as shown below:
- You can get the required information to demand a settlement– If you are involved in an out–of–court settlement process with an insurance company, you may need to demand compensation that includes pain and suffering damages.
- You will have a rough idea of how much your claim is worth– One of the best things about getting the results from the pain and suffering calculator is that you will have an idea of how much your compensation is worth. Pain and suffering damages have the ability to considerably increase the overall compensation.
- You can use the details to decide whether or not to accept a settlement– In the case of negotiations, you can use the information to help you decide whether to accept or decline the settlement.
It is imperative to note that although you are entitled to a certain settlement, the information from the pain and suffering calculator is just an estimate. If you get into a disagreement with the insurance company, ensure you contact your lawyer.
Final Thoughts
The fact is that your insurance company might not like to pay for pain and suffering damages. As a result, you might need the services of an experienced personal injury lawyer to demand the desired compensation. The lawyer will be by your side, offering assistance through the personal injury case. They will even represent you in court if the insurance company doesn’t make a fair offer.
