Evans Agrapidis Explains How Your Personal Injury Case is Valued

Attorney Evans Agrapidis Discusses How Personal Injury Cases Are Valued

How Insurance Companies Set Valuations

In many personal injury cases, insurance adjusters use a damage formula to value your claim. This formula has a multiplier of about 1 ½ to 5 times the total amount of your medical costs related to the accident. The amount calculated by applying the multiplier is known as the settlement for “pain and suffering.” Adding the total medical expenses to the amount specified by the multiplier is how the adjuster comes up with a base figure for reimbursement. This figure includes lost income. These formulas are merely a guide for negotiation.

Cases Where A High Multiplier is Justified

The other party must be responsible for the accident. The injuries need to be obvious with a medical examination. They must be painful, including fractures, wounds, tears, or displacements that require surgery or cannot be repaired. It also helps the valuation if a client is young with a longer life expectancy.

Factors Bringing Lower Compensation

If there is a finding that you shared part of the fault for the accident or injury, you will receive lower compensation. Being disorganized or impatient with the process can lead to a lower payout. If the insured party is more sympathetic than you are, it could lead to a lower settlement. If you do not have witnesses, your claim is also likely to be lower. Additionally, if a party has had prior injury claims it can result in a reduction of the value of the present claim.

What is Legal Fault?

Fault is a difficult concept in the legal world. It means that someone was careless or negligent in causing your accident or injury. The person at fault must pay the compensation for injuries and losses that come from doing harm.

A Question of Sympathy

If your claim is more sympathetic than the insured’s claim, you may receive preferential treatment. Your attorney should be able to help you tighten up your case so that you appear more sympathetic than the insured.

Setting a Fair Value

Frequently, personal injury lawsuits are settled out of court. The insurance adjuster, factfinder, and attorneys work together to determine who was at fault for an accident and how much each party is liable to pay out through their insurance company. There is no price list or menu for setting a value. The experience of an attorney makes a difference in valuing cases. Evans Agrapidis has more than 30 years of experience and has handled more than 12,000 injury cases.

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Evans Agrapidis

Evans Agrapidis

Personal Injury and Accident Lawyer in Jersey City, New Jersey.