Why Online Car Crash Settlement Calculators Are Often Inaccurate
The internet and smartphones have made information available at the touch of a button. While you can research and figure out many things on your own, some tasks are better left to experienced professionals.
For example, you may have seen online crash settlement calculators that supposedly tell users how much their claims may be worth. Unfortunately, these calculators do not do a good job of giving users the full picture about the value of their claim.
These calculators are only as reliable as the information you put into them. However, they do not ask for all the details you would need to accurately determine your claim’s potential value.
That is why you should seriously consider working with an experienced attorney. At TSR Injury Law, we have decades of experience determining the value of car crash claims. We have also recovered millions on behalf of crash victims.
Why Settlement Calculators Are Inaccurate
Like other online calculators, those used for car crash claims ask you for a variety of numbers to calculate the value of a settlement. For example, these calculators are likely to ask for the value of:
- Past and future medical costs
- Repairs for your vehicle
- Replacement value of your vehicle if it was declared a total loss
- Lost wages
- Loss of earning capacity
- Damage to other personal property besides your car
- Pain and suffering
- Other non-economic damages
At first glance, it may seem like these calculators are helpful if you have the information you need. However, how do you determine the value of your lost earning capacity or your pain and suffering? There is no set value for these kinds of damages. Their value is based on a variety of unique considerations.
For example, most car crash settlement calculators ask victims to rate their pain and suffering. Their rating is then multiplied by another number, such as the value of economic damages. However, this is an arbitrary calculation. Attorneys and insurance adjusters do not arbitrarily calculate the value of a victim’s pain and suffering. They consider the facts of the situation, available insurance coverage and other relevant information.
Calculators are programmed to assume pain and suffering is worth more if the victim has a significant amount of medical expenses. This may be true in some cases, but there are many other variables to consider. Think of it this way: medical treatment may be so successful that it leaves the victim with few long-term problems. That scenario may result in minimal pain and suffering even though the medical treatment was very expensive.
It is also important to remember online settlement calculators only consider the data you give them. They are not accounting for the unique factors of your situation, such as:
- The severity of your injuries and whether a doctor will relate all the injuries to the crash
- Your medical records
- How you respond to treatment
- Your specific job skills
- Future lost earnings
- Prior similar injuries
- Scar cases usually do not have a lot of bills but are traumatic to the injured party
- What is your health insurance type and what subrogation claim is being made against the settlement
- How many insurance companies are at fault and what percentage does each agree on
- Are your doctors board certified
- What is the Brewster number that the insurance company actually owes versus the full amount of bills; and
- Other relevant factors, the biggest is without legal counsel no insurance company will be concerned about a lawsuit that would actually hold them accountable, so they will offer the least amount possible
Injuries can have a devastating impact on a victim’s life, even if the medical care was successful. The victim’s treatment may end, and he or she may have little ongoing pain and suffering. However, the injury may prevent the victim from engaging in a hobby he or she used to enjoy. Settlement calculators are not built to factor in these things.
Why It Is Better To Have an Attorney Evaluate Your Claim
Experience can be very important when pursuing compensation after a car crash. For example, attorneys who have handled denied or undervalued claims before have a much better idea of how to proceed. They have helped people with a variety of claims and know what it takes to be successful.
Attorneys have learned how to evaluate injuries and loss of earning capacity. It is about more than simply assigning something a number. At TSR Injury Law, our Minneapolis car accident lawyers can also consult medical professionals and other experts, as needed. This additional expertise helps us to not only bolster a claim, but also to determine its value.
In short, attorneys can provide nuanced analysis that you are simply never going to get from an online calculator.
The number an online calculator spits out does not carry any real authority. Even if you think the number the calculator gives you is reasonable, the insurance company may lowball you. When this happens, you need an experienced attorney to negotiate with the insurance company.
You also want an attorney with courtroom experience who is prepared to file a lawsuit. Even if your case does not end up in court, filing a lawsuit may help. Often, it could be just the push needed to get the insurance company to make a better settlement offer.
Call TSR Injury Law To Discuss Possible Legal Options
The attorneys at TSR Injury Law are ready to help, and we have a proven track record of success. There are no upfront costs with our services. There is also no obligation to work with our firm after your free initial consultation. In other words, there is no risk in meeting with one of our experienced attorneys to learn how we may be able to assist you.
Car crashes can cause devastating injuries and financial upheaval for victims and their families. You do not want to solely count on the insurance company to provide the compensation you need.
TSR Injury Law. Proven Results. No Upfront Fees. (612) TSR-TIME
There is no question insurance companies regularly undervalue car crash claims. It is often shocking to see the gap between the insurance company’s initial offer and the final amount an attorney recovered. Sometimes the victims in these cases are permanently injured, yet the insurance company’s offer barely begins to cover medical treatment.