Can I Trust Online Car Accident Settlement Calculators?

After a Maryland car accident, the at-fault party usually has to pay compensation. This is because Maryland operates a fault-based accident system. Notably, you can get this compensation from settlements or lawsuits. Either way, you’ll have to calculate the amount of damages you deserve. Usually, too, this is where Maryland car accident lawyers come in.

However, some websites have settlement calculators. They can help you determine how much to expect from a crash. Many car crash survivors are also keen on using this technology. Therefore, this raises issues on the tech’s credibility.

That is, can accident victims trust the figures that these calculators produce? If you’re ever in a vehicle collision, though, hiring a Maryland car accident attorney is best. With several years of experience, they can help you determine precisely how much your accident claim’s worth.

Are Online Car Accident Settlement Calculators Accurate?

We’ll get to the verdict on the accuracy of online settlement calculators. First, however, it’ll be best to know how they work. Therefore, the primary thing to note is that online calculators don’t use a universal system. Instead, they make estimates of some figures you provide. The numbers are usually on the following factors:

The Vehicle’s Value

A typical online accident settlement calculator will require data on your car’s value. This may include the car’s:

  • Type
  • Model
  • Age
  • Mileage, and
  • Repair history

These factors may help determine the actual value of the vehicle before the collision. Then, the calculator may require information on the damage done to the car. Furthermore, you’ll have to input figures on the car’s repair costs. You may also state that you spent money on repairing some of the vehicle’s parts.

Medical Bills

The next value a settlement calculator considers is that of your injuries. Notably, different calculators approach injury values in different ways. For example, the calculator may demand the total amount of your medical bills. There may also be spaces to input an estimate of any future medical bills.

Conversely, the calculator may estimate your injury’s value by considering the kinds of injuries you sustained. It may then arrive at a figure by checking the average payouts for similar wounds. The problem here, though, is that similar injuries can have varying effects on different people. So, such a figure may be unreliable.

Multipliers for Non-Economic Damages

It’s already challenging to calculate the value of economic damages online. So, it’ll be worse for losses that you can’t easily assign a definite dollar value. This is the case for non-economic damages such as:

  • Pain and suffering
  • Loss of consortium
  • Loss of enjoyment of life

Here, the calculator usually employs the multiplier method. That is, it multiplies your economic damages with a “multiplier.” Furthermore, the multiplier is a number from 1-5. So, suppose the calculator made an erroneous conclusion on your economic damages. The multiplier for general damages cannot thus be reliable. Thus, it is safe to say that online car accident settlement calculators are not always accurate.

Should I Use an Online Car Accident Settlement Calculator?

Indeed, there’s nothing wrong with running personal research for settlement estimates. However, online calculators use fixed methods. Unfortunately, though, all accident claims are unique. A universal calculation method can thus never be reliable. That’s why hiring a Maryland car accident lawyer is best. They will consider the uniqueness of your case before reaching any settlement conclusions.

Can I Trust the Insurance Company’s Estimates?

Insurance companies also estimate your settlement amount. However, just like online calculators, they aren’t reliable. The at-fault party’s insurer is less reliable than an online tool. This is because insurers rarely want to pay out claims. So, they often offer meager settlements. They hope that you will accept these little sums out of desperation.

Therefore, it’s best never to accept an insurer’s estimates without an attorney’s input. An excellent lawyer can notice when an insurance company is making an unreasonable offer. Then, such lawyers can advise against accepting such an offer. This is because you may yet discover your mistake in the future. However, it may be too late to sue the at-fault party.

You Can Trust Maryland’s Best Car Accident Lawyers

Have you survived a Maryland car accident? If you have, then you can recover compensation for your losses. Are you confused as to how much you can get from a settlement? Then, that’s all the more reason to hire a Maryland car accident lawyer. Fortunately, you can get the best attorneys at Pinder Plotkin, LLC.

Our lawyers have several years of experience in handling car crash cases. Therefore, we can accurately estimate an accident’s value. In addition, we would consider the peculiarities of your case while arriving at a figure. So, call us today for a FREE consultation.

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