Settlement Offer Basics

It is not uncommon for an injured accident victim to have their world turned upside down. Sometimes the mounting medical bills and loss of employment can lead to bankruptcy. Needless to say these losses are huge and life altering.

So, is there an easy multiplier to determine the value of your claim? There is a lot of information out there that directs you to multiply your losses and or health care costs by a simple multiplier, and this is the settlement amount you should expect. Is it really that easy?

In determining the settlement offer, the insurance company considers the type of medical care you have received during your recovery period. If your medical care consists of predominately diagnostics, then their view is you must have experienced little pain and suffering. Because, after all, diagnostic testing is merely to rule out other diagnosis.

Therefore, the adjuster may be disinclined to consider a greater reimbursement amount if they see only diagnostics with little to no treatment, such as physical therapy, surgery or pain management, etc.

Since pain and suffering is one of the factors the insurance company takes into consideration (with experienced an injury lawyer), your medical record documentation is key here. If your medical records only reflect diagnostics then the insurance company will presume you did not experience pain and suffering and will offer a settlement value consistent with this presumption.

The medical record documentation is one of the most important keys in determining the amount of your settlement offer. If little to no documentation exists then the presumption is you did not suffer injuries (because if you were injured you would see the doctor and there would be medical documentation to back it up).

More feeds into the equation than just a simple multiplier. The gravity of the injury and the proof of its existence is one of the drivers in the case.