To ascertain the value of an accident

arnold

Hello...
could you tell me the rules that insurance companies follow to determine the value of an injury caused in a car accident?

kelvin · Posted: Tue Dec 27, 2005 9:49 am Post subject: accident value

Insurance companies normally use third party software to determine the value of an accident. The normal cost for a particular type of injury is calculated by putting the infomation in your medical bills into a software which then calculates the approximate amount.

roddick · Posted: Thu Jan 19, 2006 6:53 am Post subject: accident value

The final payment to the injured person depends on the negotiation with the insurance companies. If you are injured, you will be reimbursed for the following losses in general:

1. Medical Care
2. Pain and sufferings
3. Lost income.

The adjuster starts with a formula to reimburse the compensation. She adds up the total medical expenses associated to the injury. These expenses are known as “specials”.

For the minor injuries the special is multiplied by 1.5 or 2. When the injuries are serious and sustained ones, the special damages can be multiplied by up to 5. And for the extreme cases the multiplier could be even 10.

Finally the lost income is added to the obtained figure.
Hope this will help you.

intelligentassasinator · Posted: Sun Nov 04, 2007 4:34 am Post subject:

the answer suggested by roddick goes very well nothing seems to required to add on with his answer

tusharagg87 · Posted: Sun Jan 27, 2008 5:31 pm Post subject:

differnt companies have different rules. u tell me the company name to which you are insured then only i can help you .

To ascertain the value of an accident

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