Is there a math formula insurance companies use to settle personal injury claims?

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    3 Responses to Is there a math formula insurance companies use to settle personal injury claims?

    1. organicchem says:

      The link below describes a formulas that could be used to settle personal injury claims depending on your situation. There is no gurantee that the same formula is used all the time.

    2. fryeguy93 says:

      Short answer…nope…

      Staying late at work now to try and settle claims.
      It’s different from company to compnay and adjuster to adjuster but values usually begin with multipliers and then wrok up or down from their.

      factors include….

      *Was the adjuster annoyed by a bad atitude or frivolous claim?
      *Did you go to a real doctor or chiropractor?
      *Did you drag the treatment on more than common?
      *Did you go to a punk attorney who advertises during the Springer show?
      *Did the car you were in only have a scratch on rear bumper?
      *Did the claimant have a pronounced claims history?
      What city and state did accident occur in….New York, New Orleans, Lumberton NC high $$$$—Topeka, KS low $$$
      *Injury permancy

      If you have a "real claim" with tangible medical bills (non chiro, accupuncture, or osteopaths) and are not represented then expect perhaps up to 3 times your medical bills.

      If most of your medical bills are for diagnositc services (Xrays, etc) then expect less.

      If you have a permanent impairment (amputation, etc) then expect a lot more.

      Don’t let any attorney give you a figure of 5-6 times you bills.

      If there are punitive exposures (hit by drunk driver) then expect 4-6 times your medical bills. This is a lot more complicated however.

    3. Korry Z says:

      seriously it does depend on the adjuster and the company. It can come down to an adjuster having a bad day or you even yelling at them. I would like to think that all adjusters are fair but bottom line is they are not. So be nice, give the adjuster what they need to determine the settlement in a timely manner and be fair. What most adjusters want is to get it off their plate and move on to the next case. Their workloads are often high and each case takes time. They of course want get the settlement for the lowest cost for the company so you must negotiate. Most settlements are pretty fair- you may negotiate a few thousand more but all in all, if you are working w/ a good adjuster they know what it would cost to settle out of court and they would certainly prefer to see you get the money then some attorney so they may come up a little based on that alone. Certain injuries settle for more in the courts. It would depend on the jurisdiction and even can come down to who lives where and who knows who (hometowned). There really is a vague formula but it is really determined overall by how settlements resolve in the court of law and case precedence.

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