An injury to the mind, body, or emotion can be detrimental to one’s health. When pursuing a personal injury claim it is essential to recover fair compensation; where you receive reparation for not only economic losses, but also for your pain and suffering. Pain and suffering is the physical and emotional pain associated with your injury- which can transform you into a different person as it takes a toll on you.
While some damages regarding your injury are easy to quantify, others are not. Damages that can be estimated using a calculator (i.e., medical bills, lost wages) are called economic damages. However, damages that cannot be quantified are categorized as non-economic damages. Pain and Suffering falls under this category, however there are a couple of standard ways in which a value can be determined; The Multiplier Method and The “Per Diem” Method.
The Multiplier Method is an equation frequently used (specifically by insurance companies) to calculate Pain and Suffering damages. Through this equation, you add up all of the damages and multiply that number between one point five to five. However, in some claims, if the factors are overwhelming for the injured plaintiff, the multiplier may be increased to six, seven, or even ten. Factors that can justify a high multiplier include an elongated recovery (six months or more), physician indicates that your injuries will be recurring or degenerative, or you suffer some permanent consequence (i.e immobility). Nonetheless, this is not the only approach to quantifying your value claim.
The “Per Diem” Method (“per diem” being Latin for per day) is the other common approach used in determining the value of a Pain and Suffering claim. The idea is to demand a specific value amount based on every day you had to live with the pain caused by your accident. This however can be tricky when justifying the daily rate utilized. The daily rate is mostly determined based on the daily wage earned.
In some circumstances where the multiplier method and “Per Diem” method don’t appropriately reflect the value of the pain and suffering; a different valuation can be argued. Substantial proof of emotional and physical injuries will aid in discovering a favorable resolution that can get you the compensation needed. The Earley Law Group can help evaluate your case, to learn more about personal injury law, contact our office at 617-338-7400.