There is no such thing as a settlement injury formula. Many lay people think there is a settlement injury formula for their personal injury claim. This is fostered by so called self help books that tell you not to hire an attorney. I recently downloaded one of those "Settle my own Car Accident Case Books" and it gave a formula of 2,3,4 times your medical bills plus your lost wages.
The fallacy of this can easily be recognized by the exampe of a person who had to have their leg amputated in a car accident. Let's assume the following: the amputation occured the day of the accident , they had a desk job and were able to go back to work in 3 months, they were an avid competitor in marathon racing, golfing, tennis and iron man events. Their total medical bills were $125,000 and the medical providers accepted as full payment $75,000 to wipe out those bills. Lost wages were $15,000. So 3 times the $75,000 plus their lost wages is $240,000.
This is wholly inadequate , in my opinion to receive as compensation for past and future pain, suffering, disfigurement and loss of enjoyment of life past and future. I would argue for $750,000-$1,000,ooo in the Cincinnati area. This amount still does not come close to making one whole for the loss of a leg . But in the past Hamilton county juries have been on the lower end of verdicts in Ohio as compared to Cleveland. ALTHOUGH THIS APPEARS TO BE CHANGING.
The place of injury must be factored in, since the geo location will cause the amount of payment to be on the low and or the higher end. For instance John Hochenfelder publishes some verdicts out of New York regarding amputation
http://www.newyorkinjurycasesblog.com/articles/amputation-injuries/ is were you can find this information . But New York's verdicts are generally higher than Ohio's and parts of New York are higher than others. That's one of the reasons in serious injury cases you want to hire an attorney with significant personal injury experience. They will have a reasoned idea of the fair range of settlement based on many factors, and it won't be on some simplistic multiplier calculator.
By Cincinnati personal injury lawyer Anthony Castelli. Anthony welcomes your calls for a Free no obligation consultation. Call 1-800447-6549