What formula do insurance companies use to compensate accident victims?

Answer:

Most states that I am aware of do not have a 'formula' to compensate accident victims, I belive that workers comp. etc, might, but all claims/injuries stand alone, and are investigated, evaluated on their own merit. You will be compensated the amount that is due to put you back in the place/condition you were prior to the accident, (subject of course, to exclusions/policy limits etc).

First answer by Mama lori. Last edit by Mama lori. Contributor trust: 516 [recommend contributor recommended]. Question popularity: 26 [recommend question].