How Are Damages Calculated By Insurance Companies?

Bernard Tully Personal Injury Lawyer. Phone: 412-281-8700

The Tully and Tully Law Firm’s is centered around handling car accident cases, which currently constitute approximately 95% of our caseload. Today, we’re here to shed light on a crucial aspect of the legal process: understanding how damages are calculated to determine the compensation value for your case.

We understand that the process of how damages are calculated can be puzzling and you might wonder why one case is valued differently from another. Well, this determination is carried out by insurance companies and it’s essential to grasp that they, as you’re likely aware, aren’t on your side. Their primary objective is to minimize payouts. This is where our role comes into play. With our combined experience spanning over four decades, we’ve identified key factors that influence this valuation.

How Are Damages Calculated?

First off, they gather images from the accident scene to evaluate the damage sustained by the vehicles involved. In cases with significant collisions, where vehicles are extensively damaged, the visual evidence becomes a strong starting point. Notably, even in cases of less dramatic collisions, visible damage is crucial for compensation assessment. Whether it’s a minor fender-bender or a more significant crash, you’re entitled to compensation. However, the extent of damage does play a role in the valuation process.

Secondly, and arguably most crucially, they rely on your medical records. These documents provide an unfiltered account of your injuries, treatments, and progress. Whether you visited the emergency room, consulted your primary doctor, received specialized care, or underwent surgery, insurance companies analyze these records meticulously. Their aim is to find reasons to downplay the impact of your injuries. They might point to past medical history or any inconsistencies to minimize their payout. It’s crucial to note that your medical records are pivotal in this assessment.

Furthermore, work loss becomes a factor. If your injuries led to time off work, this impacts the valuation. Medical opinions regarding the duration of your work absence due to your injuries also play a role. Additionally, factors like concussions and memory loss, often resulting from car accidents, significantly influence the assessment. These issues contribute to portraying the severity of your case in the most accurate light.

Plus, they consider whether you’re still undergoing treatment or have concluded your medical regimen. Typically, we wait until treatment is complete before compiling the essential data for evaluation. All these factors are combined into an evaluation range, indicating the potential value of your case. This range becomes the foundation for negotiations. Afterward, insurance companies contact us, and this marks the first step in the negotiation process.

With all of this in mind, we wanted to clarify that we are real attorneys, not TV personalities or actors. Our commitment revolves around maximizing the compensation you deserve. We are approachable and down-to-earth, always available for discussion about your case. If you’re part of our client community, feel free to share your concerns, and we’ll take it from there!

Our main focus is honesty. We always preach it. We are passionate about trying to help any injured person or family member with their case. Questions about the blog? CALL US!

Bernard Tully Allegheny County Car Accident Lawyer. Phone: 412-281-8700 and 1-800-518-0050