If you’ve been injured in an accident, no matter how small or insignificant it may seem to others, it can be a traumatic and stressful experience. It may seem impossible to put a dollar amount on the pain and suffering that you’ve experienced.
Pain and suffering is the legal term for the physical and emotional stress caused from an injury. When calculating the amount that an attorney or insurance company may place on a suit for pain and suffering they tend to use two different methods. An attorney will typically either multiply the costs of actual damages or use the per diem method, both of which we’ll go into further detail on below.
While it may seem callous to use such mathematical methods of calculating something as immeasurable as personal pain and suffering, these methods help ensure the plaintiff receives what they deserve without a drawn-out legal battle.
Pain & Suffering Calculated by Actual Damages
When trying to get a ball park figure on how much would be considered a “reasonable” settlement amount, a good way to calculate would be by using this method. The method of calculating a “reasonable” amount for pain and suffering by actual damages works by taking the cost of actual damages (medical bills, lost income or wages, etc.) and multiplying them usually between 2 and 5.
As an example, say you were in a car accident that resulted in severe whiplash, costing you $2,500 in medical bills. An attorney, using this method, may calculate a reasonable settlement amount for pain and suffering by multiplying that amount by three, concluding an amount of $7,500.
Pain & Suffering Calculated by the Per Diem Method
Alternatively, another common method that many attorneys will use when calculating the amount for pain and suffering would be the per diem method. Per diem (per day) method works by placing a fixed amount on each day starting from the day of the accident up to the day the plaintiff reached maximum recovery.
Using this method an attorney, as an example, may establish that for each day during your recovery from the pain and suffering that you experienced the settlement would pay $150.
While this method may seem more straightforward, since the amount is directly calculated by your recovery, it can be difficult to estimate the total amount. This is because most injuries, physical and otherwise, aren’t easy to predict an accurate recovery time.
Keep in mind, though, that an insurance company or attorney may or may not use either of these methods. They can, however, be helpful in reaching a ball park figure to give you an idea of the amount that may be calculated for pain and suffering in a personal injury suit.
Get Assistance With Your Personal Injury Case in New Port Richey, Florida
If you have been injured in an accident the best thing that you can do is to reach out to an experienced personal injury attorney who can provide a more accurate estimate. They will also be able to help explain the process of the suit and the steps that need to be taken to get started.