There are many online calculators that provide estimates for monthly loan payments or the cost of refinancing a mortgage. There are even calculators that estimate the value of a personal injury claim. However, estimating damages after a car accident has its own set of challenges.
Online settlement calculators are often inaccurate because they can only offer a rough approximation. The estimate given may not be anywhere near what your claim may truly be worth. A calculator is unable to account for the unique factors involved in your situation.
Sigman Janssen explains more about online car accident settlement calculators, including how they work, the issues involved, and why you should discuss your claim with an experienced attorney. Our firm has helped many car crash victims obtain the maximum compensation possible for their damages.
Schedule a free consultation: (877) 888-5201
How Do Online Car Accident Calculators Work?
Online settlement calculators attempt to calculate your economic damages – tangible losses you incurred or will continue to incur due to the car accident. These damages can be easily quantified and readily documented. Examples include medical expenses, lost wages and property damages.
An online calculator may also attempt to determine the value of your pain and suffering and other noneconomic damages. These damages are more subjective, making them harder to quantity. Most calculators use a mathematical formula to assign a value. For instance, you may be asked to rate your pain and suffering and include that in the calculations. An online calculator can only consider the information you put in.
Issues With Online Settlement Calculations
There is no real formula for calculating the value of a personal injury claim. Every claim is unique and will depend on the facts, the circumstances of each victim, and the nature and extent of his or her injury.
Car crash victims diagnosed with the same injury may have different responses to treatment. Your injury may be more serious and complex to treat than another’s. You may have a longer recovery period based on your genetic predisposition and whether you have a preexisting condition, among other factors.
An online settlement calculator is unable to account for all these factors when calculating the value of your claim. It cannot accurately estimate the value of future medical treatment you may need. A calculator may not consider the loss of future earnings if you are unable to work at all due to your injury.
It is also difficult for a calculator to measure the severity of your injury or the impact your injury has had on a personal and professional level.
Overall, online settlement calculations carry no actual authority. The insurance company is not going to care about the value assigned to your claim by an online calculator.
Why Attorney Calculations Are More Accurate
For an accurate estimation of your claim, it is in your best interest to consult with an attorney with experience handling similar cases. He or she can consider a variety of factors to calculate your damages.
Unlike an online settlement calculator, an attorney can conduct a detailed accident investigation, gather supporting evidence, and use careful analysis to help determine a claim’s value.
An attorney may consult with a medical expert to get a better estimate of future medical treatment, wage-earning capacity, and even long-term care needs. Online settlement calculators are limited in their ability to account for these kinds of things.
Even after an attorney determines your claim’s value, he or she will be prepared to negotiate for fair and just compensation with the insurance company. You want an attorney who is prepared to build a strong case on your behalf and advocate for your needs.
An attorney may even take your case to court if it is necessary. Juries may award more compensation than insurance companies are willing to pay. Online settlement calculators have no way of taking this into account. Relying on an online calculator and basing a legal decision on the information it provides could jeopardize your ability to obtain full compensation for your damages.
Learn More About the Value of Your Claim
It costs nothing to have a Green Bay-based vehicle accident attorney at our firm review your case and discuss your legal options in a consultation. This initial meeting comes with no risk or obligation.
Our firm has a proven track record with millions in compensation recovered for our clients. We charge no upfront fees and no fees unless we help you obtain a recovery through a settlement or verdict.
Call (877) 888-5201 for trusted legal help.