If you have ever been involved in an accident, you may be familiar with the negotiation process of the opposing party’s insurance company. Often, insurance companies will quickly throw out a low offer in an attempt to get the other party to sign away the right to file a claim.

To the inexperienced eye, the amount may seem fair, but you should really ask yourself, “How did they come up with that number?” Once you agree on the payment terms with the insurance company and sign on the dotted line, there isn’t much I can do to help you. That’s why you should really know what you’re agreeing to before you sign anything, AND YOU SHOULD CALL ME!

Insurance companies place a value on your car accident claim by looking at two types of damages: (1) economic damages; and (2) pain and suffering.

The insurance company can and should compensate you for the following:

  • Medical expenses
  • Lost income
  • Permanent disability or disfigurement
  • Loss of time spent with family, friends, education, recreation
  • Emotional effects of the accident (anxiety, stress, relationships)
  • Property damage

Damages that have a clear economic value are easy to determine, but it is more difficult to place a number on pain and suffering and the effect the accident had on your life.

To calculate the amount deserved for non-economic damages, insurance companies commonly use a generic formula that multiples the amount of medical damages by a number between 1.5 – 5 (determined by the severity of the injuries).

Following that calculation, the adjustor will also include any and all lost wages to reach a final number. That number will be used as the starting point for negotiations.

If you or a loved one were involved in a serious accident, you deserve compensation for your injuries. Don’t let the insurance company take advantage of you. Be knowledgeable about your rights, and call me right away at 1 (877) 944-4373.

I have the resources and experience necessary to fight for you. As an Ohio personal injury lawyer, I’ll be there for you, and I’ll Make Them Pay!®

Author: Tim Misny | For more than 33 years, personal injury lawyer Tim Misny has represented the injured victim in birth injurymedical malpractice, and catastrophic injury/wrongful death cases, serving “Cleveland, Akron/Canton, Columbus & Cincinnati, Ohio.” You can reach Tim by email at tmisny@misnylaw.com or call at 1 (877) 944-4373.

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