There are many times you may want to use a Personal Injury Settlement Calculator when you’re looking for a personal injury lawyer, during the course of your personal injury case, when considering a settlement offer, while you’re waiting for your personal injury settlement check, or after you received your personal injury settlement check.
- 1 You Can Use a Personal Injury Settlement Calculator To:
- 2 How Much Does a Lawyer Take From a Settlement?
- 3 Online Personal Injury Calculators To Compute Settlement Value
- 4 Why Personal Injury Calculators Cannot Tell You The Correct Settlement Value
- 5 Computer Software Programs To Estimate Personal Injury Settlement Value
- 6 Our Free Personal Injury Settlement Calculator
You Can Use a Personal Injury Settlement Calculator To:
- Decide if it’s worth calling a personal injury lawyer or settling your own claim (see Can I settle my own personal injury claim).
- Answer the question, how much does a lawyer take from a settlement?
- Find out how much you should get when your case settles.
- Find out if your personal injury lawyer gave you the correct amount of money. (You may also want to see how long it takes to get your settlement check)
How Much Does a Lawyer Take From a Settlement?
The Personal Injury Settlement Calculator below will not tell you what your personal injury case is worth or the value of your injury. We tell you below why settlement values cannot be calculated.
Our Personal Injury Settlement Calculator will calculate how much money you will get once you know the settlement amount and will tell you how much a lawyer will take from your settlement.
Online Personal Injury Calculators To Compute Settlement Value
Personal injury calculators online will give you a settlement value but they are worthless and designed to get your information to sell to a personal injury lawyer.
We get emails every day from companies trying to sell us leads obtained from people using personal injury settlement value calculators. Some personal injury settlement value calculators are used on lawyer’s websites to obtain your information for themselves.
Online personal injury settlement value calculators ask you to fill out the following information:
- % You Were at Fault
- Medical Expenses
- Property Damage
- Lost Earnings
- Lost Income
- Estimated Future Medical Expenses
- Estimated Future Lost Income, and
- a Multiplier for General Damages
Beware of the multiplier! The multiplier multiplies the “special” or economic damages by a number from 3 to 5 to come up with a settlement value.
Insurance company claim reps use a multiplier to offer you a very low settlement. The multiplier offers “proof” of settlement value but this is bullshit. You cannot determine injury value or case value using a multiplier. If you do, you will settle for much less than your case is worth.
Unfortunately, there is no free or paid personal injury settlement calculator available to the public online or to lawyers that will indicate either what your personal injury case is worth or the value of your injury.
Why Personal Injury Calculators Cannot Tell You The Correct Settlement Value
The reason is that personal injury settlement value calculators look at only the 7 or 8 points of facts mentioned above, but there are several hundred points of facts with a myriad of answers that must be considered to calculate the settlement value of a personal injury case. It’s just too difficult to assign a value to each one.
Most importantly, no personal injury lawyer can estimate settlement value at the beginning of a case. Injuries usually get worse over time increasing settlement value and many other facts must be investigated. We have had many clients who had surgery one or two years after an accident when their injury became much worse and the settlement value increase by a million dollars.
Computer Software Programs To Estimate Personal Injury Settlement Value
There aren’t any sophisticated worthwhile personal injury settlement calculators available to the public. There is one called Colossus that is available only to insurance companies, and there used to be another available to anyone willing to buy it.
Allstate made the most sophisticated attempt to build a personal injury settlement value calculator called Colossus but Colossus has two problems.
First, Colossus is designed by an insurance company to benefit insurance companies.
Second, Colossus is still a computer program that can’t doesn’t take into account every fact and nuance of a personal injury case.
Personal Injury Settlement Software For Lawyers
I used to pay an expensive annual fee to use a personal injury settlement calculator that also was a sophisticated computer software program similar to Colossus.
Made for personal injury lawyers, defense lawyers, and insurance companies, the personal injury settlement software was created by a jury verdict research company but they stopped selling it years ago.
The software required entering several hundred pieces of data about a case and it would print a lengthy report showing settlement values at various times during the course of the personal injury case. The settlement value changes during the timeline of a personal injury case.
The calculator provided settlement values roughly 50% lower than my average settlement so I used the calculator to print a report to give to clients showing I was able to settle their case for much more than the computer software said the case was worth.
Our Free Personal Injury Settlement Calculator
Tips to use the personal injury settlement calculator:
- The personal injury legal fee in New York is 1/3. In some other states, it is as much as 40% or more.
- The Lawsuit Funding Payoff Amount and Amount You Received From Lawsuit Funding refers to a cash advance or lawsuit “loan”. Use our lawsuit loan calculator to get your Lawsuit Funding Payoff Amount. Find out more about cash advances and lawsuit funding.
If you’re not sure what your personal injury case is worth, look at some of our personal injury settlements and verdicts in New York to get an estimate of the value of your injury, and then use our Personal Injury Settlement Calculator.
Also, see what is included in our personal injury lawyer fees in New York and how they are calculated.
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Philip L. Franckel, Esq. is one of the HURT911® Dream Team™ Founding Partners at 1-800-HURT-911® New York; He has a 10 Avvo rating; Avvo Client’s Choice with all 5-star reviews; Avvo Top Contributor; and a former Member of the Board of Directors of the New York State Trial Lawyers Association.
Robert Plevy, Esq. is one of the HURT911® Dream Team™ Founding Partners at 1-800-HURT-911® New York. Rob began his legal career in 1993 as an Assistant Corporation Counsel defending The City of New York against personal injury lawsuits.