These tools offer an estimated settlement value for the intangible damages associated with physical and emotional distress following a motor vehicle collision. The estimation generally considers factors such as medical expenses, lost wages, the severity of injuries, and the impact on the injured party’s daily life. For example, an individual who incurs significant medical bills due to a spinal injury and experiences ongoing limitations in mobility might receive a higher estimation for these non-economic damages than someone with minor soft tissue injuries.
The primary utility of these resources lies in their ability to provide a baseline understanding of potential compensation. This can be invaluable in settlement negotiations with insurance companies, helping to ensure that the injured party receives fair remuneration for their distress. Historically, determining the monetary value of intangible damages has been a contentious process, often relying on subjective assessments. The introduction of automated calculation methods strives to introduce a degree of objectivity and transparency to this process.
