Insurance companies use an equation to settle cases or decide to take it to a judge or jury. The process does not take into accountthe fact they are dealing with a human being. Knowing each aspect: physical injury, emotional toll, and mental health is imperative for fair treatment by an insurer. Regardless, having a lawyer not only protects assets, but it ensures the insurance company does not undervalue injuries that go unseen.
Deciphering Damage Equations
In the case of many accidents, they happen onsite at a business or involve a vehicle. In both cases, liability insurance comes into play.The other person or company possess the policy to pay out for other people’s injuries. The total is up to the insurance adjuster and their secret formula.
Piecemealing each part of the formula:
- Overall expenses and medical care
- Physical pain and suffering
- Loss of income: work and other
- Loss of support: family, education, and lifestyle
- Permanent bodily injury: disfigurement or disability
- Damage to emotional health stemming from any of the above
The cut and dry costs are not apparent. The equation does not equal the same for everyone yet adjusters use the blanket equationand sometimes takes advantage of people without representation.
Equation in Action
The start of any insurance company’s mathematical tally for payments starts with medical bills. The hard copy is an easy tabulation.The mental and emotional aspects of injury, including the length of the bodily harm, are then a consideration with specific numerical values. The last thing an insurance adjuster will add is the loss of work and other income.
Negotiation Basics:
- Never let an adjuster know what is happening or what the thinking process is during negotiation.
- Keep the adjuster’s unknown equation in mind. Not everyone is equal, nor is every injury, seen or unseen.
- Negotiate only the bottom line. Do not pick apart the pieces. It is playing into the hand of the insurance adjuster’s one-size-fits-all formula.
The Higher It Goes
- The more physical pain
- The more time it takes to heal through medical professionals
- The more apparent the injuries
- The longer it takes to recover
- The permanence of the injuries
The math of the equation is higher with each aspect. If advocating for oneself, it is best to piecemeal the claim without the adjuster’s input. Transparency should go both ways. However, that is not always the case.
