How Insurance Companies Determine Damages in Personal Injury Cases

Personal Injury Lawyer

Getting hurt due to someone else’s fault or mistake is never an easy pill to swallow. Whether the chain of events that led to the incident could have been easily prevented or not doesn’t seem to matter much to the person who is injured. What they need to focus on is getting better and getting the help they need. Some injuries are made worse because of the circumstances surrounding them. In cases where an injured party can file a personal injury claim with an insurance company, how does the amount of the settlement get calculated?

Claims and Lawsuits

If you get hurt on the job, you will most likely file a claim with the employer’s workers’ compensation carrier. After a car accident, you may file a claim with the responsible party’s auto insurance company. Sometimes alerting the insurance company and going through the channels don’t get you any relief. Filing a lawsuit may be the next step in trying to recover money for your injuries.

Insurance Procedures

There are some things all insurance companies typically due after a claim or lawsuit is filed. First, they assign an adjuster who conducts a thorough investigation of the events surrounding the incident. During this part of the process, they may:

  • Interview you and the other party separately (called a recorded statement)
  • Interview witnesses (if any) and read police or accident reports
  • Gather details about your injuries and refer you to appropriate medical providers

At the end of their investigation, an adjuster will decide on liability. If it is found you are entirely innocent in causing your injuries, the medical care and payment of benefits may continue. However, if you are found partially or wholly responsible, the insurance company may terminate any benefits they are providing.

Calculating a Settlement

After the determinations are made, the insurance company may propose a settlement, and you may wonder how they came up with the number. There is a calculator adjuster use in determining the value of your claim based on specific criteria including, but not limited to:

  • The cost of medical care now and in the future
  • Lost wages and whether you can return to work
  • How severe your injuries are and whether they are catastrophic

A determination of catastrophic or life-altering injuries will net the most money in a settlement; however, the price you have paid is high.

Insurance companies don’t always have the best rep when it comes to taking appropriate steps to help you recover after an accident. Getting the assistance of a personal injury lawyer might be something you want to do sooner rather than later.

Source: Personal Injury Lawyer Deer Park, TX, John K. Zaid & Associates

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