The online calculators that can be found on some websites are supposed to help accident victims gain an estimate for the expected reimbursement of damages.
No online calculator has the ability to produce authoritative figures.
There is no common system for creating the software that is used in all such calculators.
The data entered comes from 2 different pools of information.
–Potentially authoritative sources
–Payout figures that are associated with a similar case, but one involving a different insurance agency.
Factors that determine any one calculator’s accuracy
The sort of information that gets entered into to the calculator’s software. The types of information that is used to estimate a figure for each of the different kinds of damages may differ. The methods used for taking into account either the precautions utilized, or the examples of care on the part of the responsible party.
The personal injury lawyer in San Leandro knows the extent to which the person using the calculator has recognized all of the losses: If someone that had been hit by another motorist had late-appearing symptoms, then some information could be missing from the entered data.
Information that might not be considered during a determination of the calculator’s accuracy
• Value of damaged vehicle
• Reading on the same vehicle’s odometer (mileage)
• Accessories that were added, prior to the moment of the collision
• Extent to which the damaged vehicle had depreciated, from the time of sale until the moment of the collision
• Each vehicle’s history: Had it been in any previous accidents?
• The cost of a specific part: One that was required for completion of a necessary repair
• Who was injured; was it a youth, a working adult or a senior that had retired from the workforce?
• Who was injured, was it someone with a professional career? Was it an athlete, an artist or a performer?
Assumption made by those that designed the calculators’ software
A victim that had to cover the costs associated with higher medical expenses would have experienced more pain and suffering
That same assumption had served as the basis for the utilization of a multiplier in the formula used by insurance adjusters, when trying to estimate the worth of a given personal injury case.
Today, the computer programs used by insurance companies plug a multiplier into the formula that gets used by any online calculator. Some insurance companies now rely on a computer program that makes use of a multiplier. The utilization of such a program allows such a company to seek the sort of estimate that could come from manual performance of the formula’s various operations. The lack of accuracy in any of the online calculators does not cancel out the usefulness of the calculated estimates.