To calculate the damage amount for an injury claim case is not easy. There are a lot of factors to take into consideration to make it fair and maximum. The unique nature of personal injury law allows the Injury Lawyer in Victoria to incorporate your emotional pain and sufferings, with the physical and tangible expenses. This is where the complex nature of the calculation process lies. As these are intangible costs,it is required to express them in a dollar value so that it can be added with the specials to claim from the defendant. For this calculation the attorney uses a settlement damages formula.

A Significant Tool

The settlement damage formula is a very important tool, not only to the Injury Lawyer in Victoria but also to the insurance companies. Both use this formula to calculate the claim amount. While the injury lawyer will use it to make your claim amount maximum, the insurance companies will use it to find the justification of claiming such an amount for your damages to property and injuries. There are different multipliers used for this purpose that ranges from 1.5 to 5. Which multiplier will be used for your particular case will entirely depend on the type of accident and severity of your injuries.

Makes Calculation Easy

The settlement damage formula makes calculation of tangible as well as intangible damages easier. Higher multipliers are used for most serious injuries and lower for the less severe ones. The multiplier increases the physical costs of your medical treatment that can be supported with relevant bills and vouchers. These are called the medical specials whereas the emotional pain and sufferings are termed as general damages by the Injury Lawyer in Victoria. Therefore, the final amount arrived will include your lost income, cost of medical treatment, loss in earning capacity, loss of valuable time with family and friends and several other effects that the injury has had in your life.

Sets The Negotiations Process

This amount arrived by the Injury Lawyer in Victoria with the use of the damages formula is mentioned in the demand letter, sent to the insurance companies. This sets the negotiation process and the back and forth offers and counteroffers will be based on this amount. While you will gradually lower your claim amount the insurance company will likewise increase their offer amount and for both proper and valid reasoning will be required. Therefore, this mathematical formula is very important to make the claim amount calculation accurate and flawless and free from any discrepancies.

A Specific Template Followed

In the damages formula only the dollar amount is included in the respective blocks of the template. In case there is nothing to claim then ‘zero’ is entered into the box. For example, in a slip and fall injury case there may not any property damaged as it will be in a car crash case. In such a situation the property damage box will be marked zero. However, whatever amount is included must be supported with proper proofs and documents to substantiate it. Visit Here: Barapp Law Firm BC