Personal Injury Settlement Worksheet

One of the main goals of any personal injury case is to reach a settlement agreement with the insurance company. However, receiving a fair personal injury settlement can be difficult, especially if you don’t know what to expect. That’s where The Personal Injury Settlement Worksheet can come in handy. This downloadable worksheet can help you calculate the various factors involved in your settlement.

Or Check Out Our Personal Injury Calculator to See If You Might Be Entitled to a Settlement.

Why Use a Personal Injury Settlement Worksheet?

Negotiating a settlement amount can prevent a lengthy and expensive court battle. A personal injury settlement worksheet can help you get a ballpark amount for what to expect from your lawsuit. 

In a negotiation, proof of what you deserve matters. Working on a worksheet yourself can help your attorney understand your case better and prepare for talks with the insurance company. Your worksheet can arm them with everything they need to find a successful end to your negotiation.

So gather your needed documents and get started!

How to Use the Personal Injury Settlement Worksheet

The first step is to determine the monetary amount of your medical expenses. Include all bills related to your injury, including ambulance rides, doctor’s visits, and hospital stays. If you have not yet received a statement, you’ll estimate the total future cost on the worksheet below.

Consider the expenses for property damage, total losses, repairs, and any other damage to personal property.

Next, you’ll add up the wages you have lost due to your injury. This includes time missed from work, time spent in physical therapy, and any other wages you have lost because of your injury.

To calculate future losses, you’ll estimate how much income you will lose in the future due to your injury. This includes time missed from work in the future, reduced earning potential, and any other losses you can foresee.

You’ll also consider your future medical treatments and costs. Some injuries last a lifetime, and you’ll need to consider the costs involved, including therapies, surgeries, or other medical treatments.

Next, calculate your pain and suffering. This is complex and ranges from $1,000 to $100,000. Use your best judgment to come up with a fair amount. The worksheet will help you find your number.

Finally, you’ll add up all of the numbers and come up with a final settlement amount. Your total is just an estimate, and your actual settlement may be more or less than this figure. But it will give you a good starting point for negotiations.

The Personal Injury Settlement Worksheet

Use this worksheet as a guide to help you negotiate a fair settlement with the insurance company. Remember that these numbers are just estimates, and your actual settlement payment may be more or less. But this will give you a good starting point for negotiations.

Medical Bills = ____________________________

If you didn’t seek medical help but have pain and suffering, multiply each day you suffered from pain by the amount you usually make in a day’s work to get your total for this factor. Add how much the visits cost if you seek treatment, whether from a chiropractor, acupuncturist, or physical therapist. Getting your health back is worth the expense. You deserve compensation for what you’ve had to spend to find your normal again.

Property Damage = ____________________________

Enter the amount of damage to your vehicle for bodywork or if you had to take a total loss amount. 

Lost Earnings = ____________________________

Enter the total amount of your lost earnings. If you took paid time off, enter those days as non-paid. For every day you missed, add it all together.

Estimated Future Medical Expenses = ____________________________ 

For example, if your physical therapist estimates that you will need to see him every week for one more year, add the cost of that into this factor. This category is for any ongoing treatments related to the accident.

If you plan for ongoing medical treatments related to your accident for the next 30 years or more, add all of what you expect to pay and adjust for inflation. 

Future Lost Income = ____________________________

Enter an estimate of future lost income due to needed future medical treatments or recovery time when you won’t work. If you will never work again or change careers because of the accident, consider your new field and whether your new salary will keep your income stable in the future. 

Your Total = ____________________________

The next step is adding up all of the factors above.

The Multiplier for General Damages = ____________________________

Calculate your pain and suffering. Use 1.5 as a starting point. If you have extensive injuries that will last a lifetime, you may go as high as 5. Still, a settlement with a multiplier of 5 involves severe medical issues with continuing pain or lifelong future struggles caused by the accident. 

Your Total _________  x  Multiplier ___  =  _____________

Take the total amount and multiply it by the below multiplier for general damages. This is your final settlement figure. To determine a range of what to expect, change the multiplier to 1 and find your low-end settlement amount. Then change the multiplier to 5 to find your settlement for a very high-end payout.

Benefits of Using a Personal Injury Settlement Worksheet

Insurance companies consider many factors when deciding whether a number is negotiable or outrageous. It’s best to have receipts showing your related medical expenses and documented injury records such as X-rays or MRIs. Keeping good records gives evidence of your costs related to the accident. The more proof you have, the better your chance of a larger personal injury settlement.

Having all of your ducks in a row when negotiating a personal injury settlement is vital. A Personal Injury Settlement Worksheet can help you organize important information and maximize your potential payout. But these numbers are just estimates, and your actual settlement may be more or less. So download and work on your worksheet today. Get started securing the compensation you deserve!

We Can Help

At Jarrett Law, we give you the tools and information you need to succeed in your personal injury lawsuit. Our legal negotiations can bring you a fair settlement to cover your pain and suffering. With our experience in personal injury suits, we know how to carry you through this lawsuit and into a brighter future. Contact us today and get started finding the relief you deserve. We do not receive compensation unless you do, so you have nothing to lose by getting in touch with us.