what is the formula or how do insurance companys come up with an amount to pay an injured person?

Question

auto accident. nerve damage to hand.neck injury.surgery.time off work .pain.painmeds.headaches.therepy.all caused in accident

Answer 1

No such formula exists....your claim is evaluated based on its own merits. Did you have any pre-existing conditions? Any degenerative issues (b/c they aren't responsible for that)? Is the injury consistent with the facts of loss and damages? Are you repeatedly injured in car accidents with the same injury over & over?

Answer 2

this is based on the policy and the holder ,and how much coverage they have purchased,when it comes to pay out time, they base this on the amount of damage caused by the accident,lost time from work,and pain and suffering,usually its based on what you could have made during that period of time,and then they add pain and suffering,and lost time of work,or from a business if you own one,the maximum amount they will pay out for 6 months is based on the total amount they have to pay ,which is usually under 100 thousand dollars total,that's why in the event of an accident call a lawyer,they can take the actual amount beyond this ,especially if there's going to be nerve damage and some permanent damage for life,even a years worth of pain and suffering and getting back on your feet again,and staying caught up on all your bills is going to astronomical ,and this is why a lawyer needs to handle this,if you even attempt to try this on your own ,they,ll wind up giving you less then 50 thousand and maybe paying off your hospital bills,if your lucky,my advice to you is don't let them cheat you out of what your due,and they will,believe me,i know ,been there and done it,let a good attorney handle this for you,good luck,i hope this help,s.