Your pain & suffering damages will most likely be minimized if you involve insurance companies in your personal injury settlement. Insurance companies give lower compensation because they intend to keep as much money as possible for themselves. There is more. To you, personal injury settlements are personal, but to them they are purely business.
Before insurance companies offer compensation, they will attempt to evaluate how serious the injury is. Usually, the less serious & costly the injury is, the better compensation offer you will receive. On the other hand, if the injury is more severe & costly, the insurance company will have to take the following information into account first: present & future medical needs, permanent disability benefits, physical impairment and/or disfigurement, lost income, loss of family member(s), loss of social or educational experiences, & pain & suffering such as post-traumatic stress disorder, loss of marital relations, depression, anxiety, embarrassment, stress, & property damage.
Knowing the cost of compensation
Insurance companies formulate your compensation cost by adding up many items in a formula which includes all the injury-related medical expenses. There is more. These are then multiplied by a number between 1.5 (for less severe injuries) & 5 (for more serious damage), & then added to the lost income due to the injury. Being aware of this information will often help you negotiate your case & not actually be deceived by anyone.
Personal injury compensation also depends on which part of the country you live in. If you are in a low cost-of-living area where wages & expenses are basically lower than that of a high cost area, then your compensation will also be low.
Injury Settlements gives detailed information on Back Injury Settlements, Burn Injury Settlements, Hydrocodone Injury Settlements, Injury Settlements & more. Injury Settlements is affiliated with Life Settlement Funding.