Determining the worth of the injuries sustained as a result of an accident is one of the most integral aspects of personal injury claims. In fact it is that part of the claim which is perhaps the most difficult to determine. The claim amount varies based on the circumstances in which the accident occurs. If you are curious to know how insurance companies go about the process, here is a quick look at it the way most companies go about it.
In order to know what your injury claim is worth, it is necessary to figure out the exact extent of the damages so that you can seek an appropriate amount as compensation. In case, an individual is liable for an accident, then the liability insurance company should pay the injured individual for:
- The income lost as a result of the accident as the individual is not fit to work or is being treated for the injuries sustained.
- Missing out on social, family and educational experiences including the fact that the individual missed out on training or even failed to attend school as a result of the accident
- Property damage
- Medical care and expenses associated with the same
- Disfigurement or a physical disability for the rest of their life
- Emotional damage caused as a result of depression, stress, strain and embarrassment which tend to affect family life as well. These may include situations such as the inability of the individual to take care of his/her children.
While figuring out the compensation amount, the calculation is based on the amount of money spent on the expenses and the amount that is lost as a result of the injury. However, there is no way one can equate the pain or the suffering with a monetary compensation. During the initial stages of the processing of claims, the insurance company adds the total amount of medical expenses. These are known as ‘specials’ or ‘medical special damages’. It serves as the base figure upon which the overall damages are calculated. In case of minor injuries, the special damages are multiplied by 2 while in case of serious injuries the personal injuries claims compensation may be 5 times of the special damages incurred.
