How Do You Calculate Pain and Suffering Damages?
There are two types of compensatory damages that can be included in New York personal injury claims: economic and non-economic. Economic damages are objectively verifiable losses such as medical bills, lost income, and reduced earning capacity. Non-economic damages can be more challenging to calculate because they are intangible losses such as pain and suffering, loss of enjoyment in life, and loss of consortium.
In this blog, we’ll discuss the two ways that pain and suffering damages are calculated: the multiplier method and the per diem approach. If you are planning to file a personal injury or wrongful death claim and you think non-economic damages may be recoverable, contact The Law Office of Richard M. Kenny to discuss your case.
Our New York City personal injury attorneys will evaluate your case for free, perform a thorough investigation into your accident, and calculate your damages. Led by attorney Richard M. Kenny, who has been practicing personal injury law since 1990, our law firm has recovered more than $100 million for clients in successful settlements and verdicts. Call (646) 808-3785 to schedule a free consultation.
How Do You Calculate Pain and Suffering Damages?
Pain and suffering damages are intended to compensate claimants for the emotional distress they experienced as a result of their injuries. As previously mentioned, there are two accepted formulas for calculating pain and suffering, but the value of pain and suffering damages can vary significantly from one case to the next. Factors that can affect the value of non-economic damages include the extent that the injuries affect the claimant’s:
- Home life;
- Work life;
- Daily routine;
- Personal relationships; and
- Ability to thrive in the future.
The Multiplier Method
The multiplier method involves multiplying all of the claimant’s economic damages, such as medical bills and lost wages, by a factor that typically ranges from 1.5 to 5. More severe injuries with lasting repercussions call for a higher multiplier while less severe injuries may only result in compensation that is 1.5 times the total special damages.
Insurance companies are going to attempt to use the smallest multiplier possible, which means it is up to the claimant to prove why a higher figure is more appropriate. Fortunately, there are no caps on pain and suffering damages in New York, so accident victims do not have to worry about arriving at an impossibly high settlement by using a higher multiplier. As long as they have evidence demonstrating the severity of their injuries, they should be able to recover an adequate amount of compensation for their pain and suffering.
The Per Diem Method
The per diem method involves selecting a “daily rate” and multiplying it by the number of days the injuries impact the claimant’s life. The daily rate is often the claimant’s daily earnings because it is reasonable to argue that coping with the injuries requires at least as much effort as going to work.
Discuss Your Case with a Personal Injury Lawyer in New York City Today!
If you were hurt in a preventable accident and want to hold the liable party financially accountable, contact The Law Office of Richard M. Kenny. Our New York City accident attorneys have more than 100 combined years of experience in legal practice. Call or fill out our Contact Form to schedule a free consultation.
