Methods of Determining a Fair Settlement after a Car Accident

Road accident involving two carsIt may sometimes prove impossible to prevent an auto accident. If you are injured, however, it is only fair you get compensation. You can claim general damages for your pain and suffering and special damages including medical costs and lost wages after a car accident.

Proof of injury is not enough to accord you a fair settlement. It is imperative to hire an auto accident attorney from a Salt Lake City-based firm like to help you pursue your compensation.

Here are standard methods which may be used to compute your settlement.

The Daily Rate Method

This is sometimes called a per-diem method. Using this method, you pick the cost of compensation for each day you have spent nursing injuries from the accident. This cost is then multiplied with the days you have been injured. Your daily wage determines the compensation cost.

 The Multiplier Method

If you opt to use this method, all expenses you have incurred from the accident’s injuries are totaled. This total is then multiplied with a figure ranging from 1.5-5 called the multiplier. In the multiplier method, it is assumed that the final figure reached is the correct reflection of your pain and suffering from the accident. The extent of the defendant’s fault, timeframe, and the possibility of recovery and the crash’s effect on your overall life’s quality all determine the multiplier used in your settlement calculation.

The Estimation Technique

In this method, all the elements surrounding your accident are considered then lumped into a rough figure. If you document all the expenses related to your accident, you can obtain a higher compensation with the estimation method. These include prescriptions, doctor’s notes, and any other relevant receipts.

No amount of compensation will match the pain you go through. The above methods, however, aim to get you the fairest settlement to alleviate your pain and suffering. You can negotiate your compensation with your attorney’s assistance if the calculated figure seems unfair.