After being involved in a car accident, victims often have to deal with insurance agencies through their insurance adjusters. The insurance adjuster interviews the injured person, does an investigation and gathers facts and details around the accident incident. Thereafter, they determine how much compensation is enough for the injured person and try to avoid litigation. This article will discuss aspects to take note of when dealing with insurance adjusters in personal injury cases. And how their calculations determine your compensation.
Insurance Adjusters’ Calculations
A number of factors used by the insurance adjuster determine how much they should offer a victim. However, the major factors links to medical and therapy bills dealing with the recovery of the victim. These bills may be current or future ones depending on what the victim requires. Another element they focus on is that of loss of income or wages. This is whereby the victim fails to go to work or uses vacation time during his or her recovery process. Other elements that are taken into consideration include:
- Pain and suffering
- Distress caused from the accident
- Additional treatments e.g., medication, physical therapy
In order to understand how much is allocated for pain and suffering, insurance adjusters use a pain multiplier. This often starts at 1.5 – 5 on a scale used by the adjusters. However, different agencies may use different types of calculations to determine the amount for pain and suffering.
When you know how insurance companies work, they are in a better position to negotiate a settlement before accepting one. Such foreknowledge of the workings of insurance companies works to increasing the amount pegged as a settlement for the victim. This can be done by ensuring that there is strong evidence of injuries and detailed records to backup one’s claim.
To ensure that you get the compensation you deserve, hire a car accident lawyer with experience dealing with insurance companies. Contact the Vinson Law Office today, for a free initial car accident lawyer consultation.