Personal Injury Settlement Calculator

Use our personal injury settlement calculator to get a basic estimate of what your claim might be worth. It is important to note that this calculator cannot determine a final payout because every personal injury case is unique. That said, the free settlement calculator is an excellent starting point in your pursuit of justice for your personal injury. For a more accurate estimate, take advantage of the MKP Law Group LLP’s free consultation. 

Calculate Your Personal Injury Settlement Value

In just a couple minutes, the settlement calculator helps personal injury victims estimate the potential value of their claim. The calculator guides you through the most common losses and typical compensation. It is noteworthy that it estimates economic and non-economic damages, which makes it comparable to the calculators insurance companies use when considering settlements. Of course, this calculator only provides you with an estimate, not a guaranteed outcome, because there are plenty of case elements that affect your ultimate settlement.

Understanding the Factors in a Personal Injury Settlement

What factors affect your personal injury settlement? Insurance coverage plays a foundational role. Settlement values also depend on damages and liability, as well as whether you will need compensation for future medical care.

Medical Expenses

The cost of medical treatment falls under the heading of economic damage. You can assign an actual dollar value based on past and future medical bills. Examples include emergency care, surgery, hospitalization, and ongoing treatment such as physical or occupational therapy. The cost of prescriptions and medical supplies also factors into these expenses. It is critical to save your medical documentation to maximize your settlement.

Lost Wages and Reduced Earning Capacity

Did you miss time at work? How much income did you lose during recovery? Many cases involve long-term reductions in earning capacity that directly affect settlement values. These calculations apply not only to employees but also to self-employed individuals and gig workers.

Property Damage

Let’s look at the losses affecting your personal property. Examples include vehicle damage in a car accident, personal property destroyed or damaged, and the consideration of a repair vs. replacement value.

Pain and Suffering

Non-economic damages involve physical pain, emotional distress, and mental health impacts. You cannot put a price tag on these losses; however, you can include them as a percentage in your calculation. 

Other Damages That Affect a Settlement Amount

If you suffered scarring or disfigurement, it is an essential element in your settlement consideration. A term you will see is “loss of enjoyment of life,” which refers to an injury’s long-term impact on your lifestyle. “Loss of consortium,” another legal term, covers the injury’s impact on your marriage. If you are filing the claim on behalf of a loved one who died, the law recognizes wrongful death considerations.

What Is the Average Personal Injury Settlement Value?

It is important to understand that there is no single “typical” settlement amount. Values vary significantly based on the type and severity of injuries, the percentage of negligence apportioned among all parties, and insurance policy limits. However, here are some value ranges frequently seen:

• Minor injuries such as soft tissue damage or mild whiplash: up to $25,000 and possibly more.
• Moderate injuries, including broken bones and deep cuts: up to $100,000 and possibly more.
• Severe injuries like spinal injuries and traumatic brain injuries: up to $1 million and possibly more.

What causes differences in settlement values for similar injuries? Factors that increase or decrease settlements are the severity of the injuries, the victim’s liability in the incident, and comprehensive documentation of economic losses. Speaking with a personal injury lawyer helps you get a more realistic valuation of your claim. 

How Personal Injury Settlement Calculators Work

So far, we have discussed the elements that go into a settlement calculation. Let’s look at the ways they add up.

The Role of Multipliers

After adding up your economic damages, a settlement calculator will apply a multiplier, which ranges from 1.5 to 5. This figure changes depending on your injury’s severity, the length of your recovery, the possibility of a permanent disability, and whether you need long-term treatment. Having accurate documentation plays a critical role in arriving at a fair number.

Inputting Your Damages

The settlement calculator will ask you to enter the total of medical expenses, lost income, and property damage. If you do not have hard figures on hand, use estimates. 

Limitations of Settlement Calculators

On the other hand, there are some eventualities that a personal injury calculator cannot account for. Examples include:

• Cases with shared fault or disputed liability.
• Comparative negligence considerations.
• Limits of the applicable insurance policies.
• The strength of your evidence and witness credibility.
• Bad-faith insurance tactics.
• Your personal injury attorney’s negotiation skills.

These are just some of the reasons why personal injury settlement calculators are only a starting point.

Important Considerations Beyond the Calculator

A closer look at the calculator’s limitations shows that several factors outside your control will nevertheless affect the settlement value. 

The Impact of Liability

Comparative negligence calculations govern California personal injury cases. As an injured party, you can recover damages even if you were mostly at fault in the incident. However, your compensation will be reduced by the percentage of fault apportioned to you. Let’s say your damages total $100,000. That said, evidence suggests that you are 50% at fault for the incident that led to the injury. You can still recover $50,000. Witness statements and police reports help verify whether the comparative negligence calculation in your case is appropriate.

Insurance Policy Limits

Insurance companies always look for ways to cap possible payouts. They do so with injury policy limits. For example, the basic California auto insurance policy must be at least $15,000 per person and $30,000 per accident. If the damages from injuries and property exceed these policy limits, the insurer typically does not have to pay more. With fixed policy limits, severe injuries frequently go beyond these totals because they may result in lifelong losses.

The Role of Legal Representation

In the face of these policy limits, legal representation is critical to increase the potential settlement value. While insurers point to medical claims, an attorney will expand your claim to include future medical care, changes to your earning capacity, and non-economic damages. The personal injury lawyer will also examine comparative negligence claims when an insurer seeks to shift blame to the accident victim. Most importantly, a lawyer can identify additional insurance coverage and strengthen the evidence you present. When an insurer knows that an attorney is involved, they are less likely to present you with lowball offers.

Negotiation Strategies

When an insurance company presents you with an initial settlement offer, it is typically a test of how desperate you are to settle the case. Someone without legal representation will usually only see the mounting bills. They will not know what their case is really worth. Not surprisingly, desperate injury victims settle quickly. But here is what you need to know:

• A first offer is made quickly, which means that the insurer does not have all the information concerning your case.
• Doctors have not yet determined the full extent of possible long-term limitations and treatment needs.
• An insurer will seek to shift blame to the accident victim because it minimizes the amount they have to pay.
• An insurance adjuster has the authority to increase and offer, but they will not tell you that.

When a personal injury attorney becomes involved, the insurer understands that the personal injury victim will not accept a lowball offer out of desperation. Additionally, the company notes that you are not afraid to go to trial if necessary, which would entail high costs for the insurer. Not surprisingly, offers tend to increase when attorneys handle the negotiations.

Personal Injury Cases the MKP Law Group Handles

The MKP Law Group team specializes in personal injury cases. Here are just some of the personal injury cases we typically help resolve:

• Car accidents.
•  Truck accidents.
•  Motorcycle accidents.
• Pedestrian accidents.
• Slip and fall injuries.
• Workplace injuries.
• Dog bite injuries.
• Other negligence-based injury claims.

When to Consult With a Personal Injury Lawyer

Once you have received medical attention, it is time to protect your legal rights. Serious injuries, long-term medical care needs, disputed fault, insurance company delays or denials, or lowball settlement offers are excellent reasons to consult with a personal injury attorney. If nothing else, schedule a free consultation before you accept an insurance company’s settlement offer.

The MKP Law Group offers a free consultation to review your personal injury claim and explain your legal options.

How the MKP Law Group Can Help

Using the personal injury settlement calculator is a helpful first step. However, the MKP Law Group team provides injury victims with a personalized case evaluation. We are committed to a client-focused approach that sees you as a person, not a case file. To this end, we charge you no upfront fees and only bill you when we settle your case. Contact the MKP Law Group for a free consultation.