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Is There an Auto Accident Settlement Formula?

Auto Accident Settlement Formula

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Is There an Auto Accident Settlement Formula?

An auto accident can be a scary, life-changing experience, even if the incident itself doesn’t, at first, appear to be serious. In addition to physical and emotional suffering, victims are subjected to financial stressors like medical expenses and lost time at work. Auto accident settlements are meant to make up for these damages, but the value of the claim isn’t always easily definable.

No matter what your claim is worth, Morgan & Morgan is here to make sure you get paid in full. Our team of 800 attorneys and 3,000 support staff has the skills, experience, and resources to get our clients the compensation they deserve for their hardships.

Contact us for a free, no-obligation case evaluation to find out if we can help.

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FAQ

Morgan & Morgan

  • Is There a Formula for Auto Accident Settlements?

    Although there is no exact formula to determine the value of an auto accident settlement, insurance adjusters do have roundabout methods of coming to an estimate. Every incident is unique, but there are many common variables. Oftentimes, adjusters will base their estimates on special damages.

    Special damages are financial damages that equate to a dollar amount, like medical expenses, lost wages, and property damage. Insurance adjusters take that dollar amount and multiply it by a certain factor; the assumption is that higher medical bills and more lost wages indicate a more severe injury or a lengthier recovery process, so they qualify for a higher multiplier. A small number of special damages might warrant a multiplier of 1 or 2, for example, while a lengthy hospital stay or severe injury may call for a multiplier of 4 or 5.

    However, this is just an estimation—this “formula” doesn’t take other variables into account.

  • How Are Auto Accident Claims Evaluated?

    To get a more accurate estimation of the value of a case, you have to look at individual factors. Some of these factors include: 

    • The severity of the injury—and whether the accident caused a new injury or exacerbated an existing problem
    • When you sought medical attention for your injury—was it immediate, or did you wait?
    • Nature and duration of treatment—insurance companies might not cover the full cost of recovery if they believe the treatment was “excessive”

    This is far from an exhaustive list of factors, and insurance adjusters will do whatever they can to devalue your injuries and pay less than the amount you’re owed. When this happens, Morgan & Morgan’s auto accident attorneys can help you fight for the full value of your claim.

  • How Can an Auto Accident Attorney Help?

    It’s easy to get tricked by insurance companies, especially when you’re already dealing with the physical and emotional stress of an auto accident. However, our experienced lawyers recognize their methods and will build the strongest possible case in order to combat them.

    Your auto accident attorney will:

    • Gather and review medical records, insurance policy information, and all pertinent documentation
    • Thoroughly investigate other sources of evidence such as security camera footage and eyewitness reports
    • Negotiate with the defense to reach a fair settlement
    • Prepare the case for trial (if a fair settlement cannot be reached)

    When you work with Morgan & Morgan, you never have to worry about how to afford a lawyer. We work on a contingency basis, meaning we don’t get paid until we successfully resolve your case. Then, our fee comes out of the settlement or verdict winnings, so you never pay out of your own pocket.

  • Contact Morgan & Morgan

    At Morgan & Morgan, we’ve seen the devastation that an auto accident can cause for victims and their families, and we’re here to help make things right. We fight For The People, Not The Powerful, and we fight for full and fair compensation—not a cent less. To that end, we’ve recovered $13 billion for our clients across all practice areas.

    Have you or a loved one been injured in an auto accident? Don’t wait to contact Morgan & Morgan. Fill out a free, no-risk case evaluation form to see if you have a case.

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Auto Accident
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Jerri
Unbelievably organized, responsive and probably the most effective process-oriented group of people I've ever seen. Their preparation for mediation and trial is beyond comprehensive. Across two cases and 3 years, not once did anything fall between the cracks. Everyone I came into contact with exemplifies professionalism; they quickly resolved insurance issues and spent time educating me about everything affecting my cases.
Georgia J.
General Injury
Rupdai
It has been an amazing experience with your law firm. I will be happy to refer any of my family and friends to your law firm. I am very thankful to Sabrina Thornburg and Andrew Felix for everything that they have done on my case. Sabrina kept in touch with me to let me know how everything was going and I am very happy with the service that she and Andrew provided. Your slogan really is true, you are for the people. Thank you.
Antonia C.
Slip and Fall
Alejandro
I was very happy with the communication between the legal counsel and myself. If I had any questions I could leave it if not directly and I would have an answer within 24 hours by either email or a courtesy phone call. Also, the quick resolution of the matter was something I appreciate very much. Needless to say the result was more than expected.
Todd E.
Homeowners Insurance
Jasmine
I originally hired a different law firm after being involved in a multi-car accident on the interstate, but after a few conversations, arguments, and showing me other cases were more important than mine, I called and hired Morgan & Morgan! That was one of the best decisions I've made as an adult! Not only have they been in contact with me, but they listened and found mistakes in the crash report that the officer didn't want to admit to! I'm beyond thankful!
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