Settlement Calculator: Determining What Impacts My Claim Worth (2024)

Calculate Your Settlement

A settlement calculator may suggest potential settlement values of individual personal injury cases. The types of cases this applies to could include:

  • Accidents
  • Dangerous consumer products
  • Slips, trips and falls
  • Wrongful death

Using some basic information about the financial impact of your legal complaint, the settlement calculator offers a rough estimate of how much your claim could be worth.

This is not legal advice and we are not your lawyer.

The calculation here is for instructional purposes only. Consult an attorney for a financial and legal analysis of your case.

The results calculated are meant for instructional purposes only. They do not constitute legal advice and offer a simplified overview of the potential estimated value of your case. Consult an experienced attorney for a full analysis of your specific case.

How Is Pain and Suffering Calculated?

The noneconomic losses experienced following a personal injury, known as pain and suffering, can be calculated by multiplying your financial losses by a value between 1.5 and five. The pain and suffering multiplier amount increases based on the seriousness of the damages caused.

Settlement Calculator: Determining What Impacts My Claim Worth (1)

An insurance adjuster or plaintiff’s attorney typically identifies the appropriate multiplier based on each individual case. To determine a potential settlement value, they first combine the total of medical expenses to date, projected future medical expenses, lost wages to date and projected future lost income.

The resulting sum is then multiplied by the pain and suffering multiplier value to produce a projected settlement amount. This methodology is based on a commonly used formula as outlined by the Sacramento County Public Law Library.

Factors To Remember

When determining the medical expenses values to plug into the calculator, keep in mind that the information requested should account for more than just the total amount of your hospital bills. It may also include:

  • Ambulance
  • Lab and X-ray services
  • Physical therapy
  • Prescription medications
  • Nursing care

As you add up your lost income total, you may need to incorporate the dollar value of a potential job opportunity that didn’t come to fruition as a result of your pain and suffering or medical care. Freelance work or a job interview are examples.

Consider Your State’s Legal Guidelines

Lawyers must follow their state’s established laws when considering a case. This is especially important when looking at the different statutes of limitations for filing a claim and the impact of negligence on a potential settlement.

Statute of Limitations

Almost half of the country’s 50 states have a 2-year time limit — also known as a statute of limitations — for submitting a legal claim for either a personal injury or wrongful death. Identifying when the clock starts on a statute of limitations can be difficult.

In some cases, the statute of limitations begins immediately when the injury occurs, while in other cases the timeline may be based on when your initial awareness of the injury occurs. A serious medical diagnosis is one example of an instance in which your awareness of an injury may begin months or years after the initial incident.

Settlement Calculator: Determining What Impacts My Claim Worth (2)

Statutes of limitations range from 1-6 years, depending on the state in which you reside. The majority of states use a 2- or 3-year statute for both personal injury and wrongful death cases. Only Maine and North Dakota offer a 6-year statute, although North Dakota uses that lengthy statute for personal injury claims and offers two years for wrongful death cases.

Percentage of Fault

Those accused of causing harm to another person that can be categorized as a personal injury have the option to claim comparative negligence. This allows the victim to recoup only a portion of the damages they are due based on a percentage of fault as determined. State rules typically fall into one of four categories:

  • Damages are reduced by the percentage you are found to be at fault.
  • Zero damages will be paid out if you are found to be 50% or more responsible.
  • Zero damages will be paid out if you are found to be 51% or more responsible.
  • Zero damages will be paid out if you are found to be 1% or more responsible.

Check the chart below to find out the legal rules relevant to your state.

Settlement Calculator: Determining What Impacts My Claim Worth (3)

It’s interesting to note that South Dakota is the only U.S. state that does not use the percentage of fault systems. Instead, it uses an older method called the “slight vs. gross” rule. Under this process, the plaintiff’s negligence must be identified as being only a slight factor in contrast to the defendant’s gross negligence in order for the plaintiff to receive financial payback.

Consult a Lawyer About Your Unique Case

Consult with an attorney to discuss the details of your case, determine your eligibility since not all cases will actually have validity and receive a much more thorough settlement estimate. No two cases are the same, so it’s important to remember that no settlement calculator can provide you with an exact projected settlement.

If you or someone you know is interested in filing a claim for a personal injury or wrongful death case, the settlement calculator above can serve as a starting point to better understand your case’s possible dollar value and your legal rights.

Please seek the advice of a qualified professional before making decisions about your health or finances.

Settlement Calculator: Determining What Impacts My Claim Worth (2024)

FAQs

How do you determine the value of a settlement? ›

To determine a potential settlement value, they first combine the total of medical expenses to date, projected future medical expenses, lost wages to date and projected future lost income. The resulting sum is then multiplied by the pain and suffering multiplier value to produce a projected settlement amount.

How do you determine the value of a lawsuit? ›

Generally, the greater the likely damages, the more valuable the claim and the smaller the percentage of proceeds that will be needed in consideration of the investment. Many litigations are embedded with multiple claims, each with a different model of damages and each with a different probability of success.

How do you calculate emotional pain and suffering? ›

The Multiplier method adds up all incurred costs like medical bills, lost wages, etc. along with inevitable future costs. It then takes that total and multiplies it 1.5 to 5 times that amount depending on the severity of the pain, suffering, and emotional distress.

Are settlement calculators accurate? ›

Conclusion. Car accident settlement calculators are not accurate because you can't rely on their results. Most calculators fail to gather enough information to adequately determine the amount of your individual claim. However, they can still be useful for providing general estimates.

What is a good settlement figure? ›

A good settlement offer should not only be able to cover your hospital bills and legal fees, but it should also be equivalent to close to a years' worth of your current wages, especially in cases where your injuries may be permanent or cause some kind of disability.

What is the average settlement figure? ›

An average personal injury settlement amount is anywhere between $3,000 and $75,000. Be careful when using an average personal injury settlement calculator to give you an idea of what you may stand to collect. These numbers really depend on your individual case and are hard to predict without a professional.

How to calculate damages in a lawsuit? ›

Calculating Damages. Unfortunately, the law does not provide a specific method or formula for determining the amount you're owed. Instead, personal injury damages are based on a combination actual expenses and compensation for pain and suffering.

How to calculate actual damages? ›

When calculating actual damages, courts will often look at the fair market value of destroyed/damaged property, lost wages/income, and necessarily incurred expenses.

How to calculate total damages? ›

Multiplier Method

The economic damages are multiplied against the multiplier to determine the entire damage award. For example, if the economic damages are $25,000 and the multiplier is 3, the total damages award is $100,000 ($25,000 in economic damages and $75,000 in non-economic damages).

How much do you usually get if you sell your settlement? ›

Discount rates from settlement buyers to consumers can range anywhere from 8% to over 18% but usually average somewhere in the middle. An average discount rate of 12% is reasonable for the secondary market but some companies may want to take as much as 30% discount.

How do you calculate final settlement price? ›

If the number of trades during last 30 minutes are less than 10, then it is based on the weighted average price of the last 10 trades executed during the day. If the number of trades done during the day are less than 10, then it is taken as the weighted average of all the trades executed during the day.

What is the formula for the official settlements balance? ›

Official settlements balance = increase in home official reserve assets minus increase in foreign official reserve assets = 30 – 35 = –5. 3.

What is an example of settlement value? ›

The settlement price of 1.1009 is higher than the strike, meaning the buyer receives the payout. For this example, let's say the buyer and seller matched a trade at 1.1050. The buyer paid $150 to secure the trade, and the seller paid $100. Settlement value for buyer = $109.

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