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How Is the Monetary Value of Pain and Suffering Calculated?

Whether physical or mental, pain and suffering are both an example of "compensatory damages," or damages designed to compensate an injured party for his/her losses related to the injury. Other such damages include medical bills and lost wages. When an insurance company or jury compensates you for your losses related to an injury, they are assigning a monetary value to those losses. When dealing with monetary losses like medical expenses and lost wages, assigning values is easy. But, how is the monetary value of "pain and suffering" calculated? Insurance adjustors may conduct an analysis of jury verdicts obtained in cases with similar injuries and circumstances, use computer software programs or mathematical formulas, or utilize a combination of factors to arrive at a monetary value. Juries may use some of the above methods but are also often influenced by their own personal experiences or the emotional issues related to a case. Many of these methods, while meant to be fair, are subjective. And technologically advanced software, while certainly well equipped to handle complex calculations, cannot easily convert something like mental pain and suffering into a monetary value. For this reason, it is important to obtain the representation of an experienced personal injury attorney who will fight to ensure you receive the full amount to which you are entitled. For a confidential review, please contact our Cincinnati personal injury law office today or call (513) 474-3700.

 

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Our law firms serve clients in Ohio & Northern Kentucky Counties such as, Hamilton, Clermont, Butler, Warren, Highland, Clinton, Montgomery, Brown, Boone, Kenton & Campbell counties
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