Each year, 20 to 50 million people suffer non-fatal injuries from a car accident.
There are two types of damages you can recover for if you’ve been injured in a car accident. There are quantifiable financial losses, and harder-to-calculate pain and suffering damages.
How much should you get for pain and suffering in a car accident?
Because there are no bills to quantify pains and suffering, it can be challenging to determine how much you should get. This guide will help you answer that question.
How Much Should You Get for Pain and Suffering in a Car Accident?
The amount you should get for your pain and suffering will depend on several factors. The stronger your case is, the more likely you are going to receive a fair compensation offer.
Gather as much evidence about the circumstances surrounding the accident and your actual injuries. This will help the insurance company determine the extent of the damages, your injuries, and the severity of the accident. The stronger your case is, the more likely you are to receive a larger settlement offer.
It’s important to immediately report the accident to the authorities. You should immediately seek medical treatment to ensure fully you document all of your injuries. It can also be helpful to gather evidence of how your injuries have negatively impacted your life.
Average Insurance Payout for Pain and Suffering
There’s no standard method for determining the payout for pain and suffering. This can make calculating or predicting a payout challenging. There are two common methods for calculating pain and suffering payouts.
The first method is the multiplier method. Take the amount of actual damages and multiply it by a specific number. Usually, this number is between one and five, depending on the severity of the injuries.
The more severe the injuries suffered, the higher the multiplier will be. The amount of future medical care will also influence the multiplier.
A second method is the per diem approach. This is Latin for “per day.” Using this method, a chosen dollar amount will get assigned as a daily payout.
This amount gets assigned to every day until the plaintiff reaches the maximum payout.
Insurance companies don’t have to use either of these methods. Many use a computer algorithm to determine a payout offer.
Recover for Your Car Accident Pain and Suffering
So, how much should you get for pain and suffering in a car accident? The answer will depend on the severity of the accident, the extent of your injuries, and the total amount of your actual bills.
To help you estimate the amount you should accept as a settlement offer for your pain and suffering, you can use the two calculation methods we mentioned. Calculating both of these numbers will help you determine a negotiation starting point. From there, your attorney can communicate with the insurance company to come to a settlement amount for your pain and suffering.
For more financial and business advice, browse our other articles.
