How Do I Calculate My Florida Personal Injury Settlement?Tampa Bay Legal News
Personal injury attorneys here in Florida calculate damages for an injury based on the kinds of losses available. There are typically three different kinds of damages possible in a car accident claim:
- Non-economic damages
- Economic damages
- Punitive damages
The kind and amount of losses you could be awarded will hinge on the circumstances surrounding your claim.
Economic damages, also known as special damages, act as compensation for financial losses caused by the accident. Examples of special damages include:
- Lost income
- Medical costs
- The expense of ongoing medical treatment
- Damage to property
- Diminished earning potential
To calculate economic damages, your attorney will total the receipts from your concrete expenses. Determining the cost of future medical care and diminished earning potential can, however, be very hard to estimate.
Non-economic damages also referred to as general damages, are highly subjective and much less concrete than their economic counterparts. Examples of non-economic damages include:
- Reduced quality of life
- Loss of consortium
- Pain and suffering
A Florida personal injury attorney will be able to help you ascertain whether or not you are eligible to collect non-economic damages due to your injury and calculate their value.
In almost all Florida personal injury claims, you will be required to show that your injuries surpass the state’s tort threshold in order to be awarded non-economic damages. According to Florida law, the kinds of injuries that typically eclipse the tort threshold include:
- Substantial and lasting loss of important bodily functions
- Permanent injury within a reasonable degree of medical probability
- Disfigurement and scarring
If your injuries fit into one or more of these groups, you might be entitled to collect non-economic losses.
The Multiplier Method
Florida attorneys frequently employ what is known as “the multiplier method” to calculate non-economic losses. Following this method, the estimate of your economic damages is multiplied by a number between one and five.
The more serious your injuries are, the higher your multiplier number will be. The final calculation is the estimated amount of your non-economic losses.
As with every kind of personal injury case, the endless number of variables makes your claim unique. Someone with a case that sounds very similar to yours could end up with a very different outcome than what you should expect. This is just one of the many reasons why hiring a skilled attorney is beneficial to your Florida personal injury claim.
Your attorney will know the most thorough and efficient way of collecting vital evidence that proves you were not at fault for the accident. Establishing this fact is essential to the success of your Tampa personal injury case.
If you have sustained injuries during any kind of accident that was caused by another person’s negligence or carelessness, there is evidence out there that will substantiate your claim. A reputable personal injury attorney from Fulgencio Law will be able to help you. Call us at (813) 463-0123 to schedule your free Tampa personal injury consultation today.