In the aftermath of an accident, greed and insurance negotiations begin to surface. The transition from opening up a claim to getting the proper payment is rife with potential obstacles. The formula for payout helps keep things as logical and reasonable as possible and all insurance companies use what is called a damage formula. It assesses the extent of the damages, and what those costs should include. The damage formula includes:
- Direct medical costs
- Missed time at work
- Physical suffering that has occurred after a surgery or initial medical procedure
- Permanent damage associated
- Loss of experiences due to injury (missing limb, unable to speak, etc.)
All of the above is wrapped in the overall damage formula. The formula makes sure the payment is relative to the damages incurred, and that can be difficult. Discrepancies can occur, which is where personal injury attorneys in Olympia, WA come in. The formula typically begins with the direct total costs associated with the medical expenses. This is usually called the “special damages.”
These types of damages are easily measured. General damages include everything else, and that means damages after surgery, pain and suffering, loss of job (though that is often used in a separate evaluation), and loss of comfort. The general damages are typically the special damages multiple by two or three. The totals are then combined.
The last factor is income lost, which is usually measured separately. The correlation is usually direct. For example, if the individual lost $10,000 with three months of not working, the amount added to the total is $3,000. The personal injury attorneys in Olympia, WA assess all these measures and confirm that the insurance company is providing an accurate assessment. The biggest argument usually comes from the general damages, which are based on a subjective review of the situation.
It can be easy to see how these expenses add up very quickly. It is also easy to see how they can be exploited in a personal injury. visit Putnam Lieb Potvin Attorneys at Law for a non-bias review of an insurance payout if the numbers brought forward seem too low.
