The two most common are the multiplier method and the diet method (daily rate). Try the calculator below to compare the two methods. It's not easy to attribute a dollar amount to general damages. However, there are several approaches that insurance adjusters take when calculating pain and suffering as part of an injury settlement.
Insurance companies love using software algorithms, such as Colossus, to calculate the value of pain and suffering. For example, they might call it their “pain and suffering calculator.” The problem is that the estimates provided by any type of software algorithm preferred by an insurance company will almost certainly make you a “cheap” offer that you definitely shouldn't accept. However, you can use it for negotiations as a starting point, not as an end point. Realistically, most compensation for pain and suffering is determined through negotiation.
There are many factors that can influence a negotiated value for pain and suffering. The expectation of how a court would react to the lawsuit is just one of these considerations. The multiplier method is a pain and suffering calculation that assigns a fair amount of compensation for both physical disability and emotional pain in a personal injury case. The best method for determining the value of your pain and suffering case is to have an experienced personal injury attorney evaluate your case.
Contact Logeman, Iafrate & Logeman, PC for a free consultation. A common way to assess pain and suffering is to calculate an approximate amount based on economic damages. That means counting medical bills and applying a multiplier to arrive at a figure for pain and suffering. Two standard methods for calculating non-economic damages are multiplier and diet methods.
