How do Insurance Companies Calculate the Value of a Personal Injury Case?

Most of the time, unfairly.

All personal injury claims are different and worth different amounts depending on the circumstances of the accident or injury.

When insurance companies are determining how much to compensate the injured party, most often an insurance adjuster usually uses computer software that plugs in information and spits out a range of numbers.

The insurance company valuation is based in large part on data that does little to take into account the human side of the claim which is the most valuable.

Figuring out how to file your personal injury claim can be a complicated and stressful experience, having an experienced attorney by your side can help.

Fisher Stark, P.A. has the tools to review your case and guide you through your options that may be beneficial to your case. The attorneys at Fisher Stark have participated in more than 1,000 personal injury cases and work hard to get their clients the compensation that they deserve.

If you want to discuss your options today you can call today for a free consultation at (828) 505-4300 or send us an email here.

The Insurance Injury Damage Formula

Insurance companies have a mathematical formula to determine what they will offer, do not let them undervalue your claim. This formula is often unfair to the injured person. Certain factors weigh in the math calculation but most always, hiring an experienced attorney can help enhance the offer or if needed, take the case to a jury.

What types of injury damage claims are available?

Special/Economic Damages
Insurance companies refer to hard costs as special damages, generally consisting of lost wages and medical bills. These types of damages, while sometimes significant, are often only the tip of the iceberg and can be misleading and unfair at times.

For example, there may not be much medical treatment available for someone who suffers a brain injury, but the impact to their life and the true value of what was taken from them far exceeds any amount of medical expenses.

General/Non-Economic Damages
Non-economic damages encompass the human loss resulting from an injury. Sometimes these damages are referred to as pain and suffering, mental anguish or emotional distress. Insurance companies often undervalue these components of a personal injury claim and many times it’s up a jury to decide what a fair value is for such damages.

Other factors that affect how insurance companies value your claim

North Carolina is one of the few states that still has contributory negligence. If you share some degree of blame for the injury, it can affect whether you can collect any compensation at all from the other at-fault parties.

Contributory negligence does create more obstacles, but that does not mean you and your lawyer cannot overcome them. North Carolina personal injury attorneys are well-versed on these types of laws and can advise you accordingly.

Additionally, how the accident occurred and whether aggravating factors exist, such as drunk driving, also come into play. Contact a personal injury attorney today to discuss the reasonable value of your claim.

If you or a loved one has been injured in Western North Carolina, the personal injury lawyers at Fisher Stark P.A. can help. For a free consultation, contact Fisher Stark, P.A. today at (828) 505-4300 or contact us via email thru our contact page .