By Meta tag: After a personal injury accident, you may want to know how much you can make from your personal injury claim. Read on to learn more.
After a personal injury accident, you may want to know how much you can make from your personal injury claim. After all, you may have medical bills, lost income, and other damages to deal with.
Unfortunately, there is no way to calculate the potential value of your Florida personal injury case without a detailed knowledge of the facts. If you have access to these facts, however, you can arrive at a ballpark estimate of the value of your claim.
Car Accidents and PIP Insurance
Car accident claims are the most common type of Florida personal injury claim. They can also be complicated because of Florida’s no-fault auto insurance system. In Florida, everyone with a car registered in-state must purchase at least $10,000 worth of personal injury protection (PIP) auto accident insurance.
PIP insurance is not liability insurance. It covers your own injuries and lost wages up to $10,000. You cannot even file a claim against the at-fault driver, since PIP insurance is no-fault. There is a loophole, however, that allows you to file a personal injury lawsuit if your injuries are serious enough.
PDL Insurance
Florida drivers must also carry at least $10,000 in property damage liability (PDL) insurance. If you suffer damage to your automobile, you can file a third-party insurance claim against the at-fault driver’s PDL insurance policy. Alternatively, you can sue them in court.
Personal Injury Damages
The rules are different for personal injuries that arise from an accident other than a car crash. With the exception of workers’ compensation claims, compensation for these injuries work just like auto accident property damage claims. You can sue the at-fault party in court, or you can file a claim against their liability insurance policy.
If you are successful, you might be able to recover the following types of damages.
Economic Damages
Economic damages compensate you for tangible losses such as medical expenses, lost earnings, and out-of-pocket expenses. These damages are usually easy to calculate using bills, invoices, and receipts. Your hospital and doctor bills can prove the extent of your medical expenses, for example.
Speculative Future Economic Damages
If your injuries are long-term, you might be continuing to accumulate medical expenses and lost earnings after you file your claim. Indeed, the statute of limitations might force you to file your claim before your medical condition stabilizes. You might also need to hire an expert witness to calculate your damages.
You may be entitled to compensation for future financial losses you will incur as a result of your injuries. These damages include money for future medical care, lost income, and diminished earning capacity.
Non-Economic Damages
Non-economic damages are personal, non-financial losses related to the pain and suffering you’ve experienced after the accident. These damages include pain, suffering, emotional distress, reduced quality of life, and loss of consortium, among others. Non-economic damages may represent a significant portion of your personal injury claim.
Limitations and Deductions
The following factors can limit the amount of money you can make from your Florida personal injury case.
Comparative Fault
Florida has modified comparative fault laws. You can recover compensation even if you are partially at fault for the accident, so long as your percentage of fault does not exceed 50%. For example, if you were 40% at fault, for example, Florida will deduct 40% from your compensation. If you were more than 50% at fault, you will lose 100% of your compensation.
Insurance Policy Limits
Many at-fault defendants cannot afford to pay a large personal injury claim. That means you will have to rely on their liability insurance company to pay you. Your compensation may be limited to the policy limits of the at-fault party’s insurance policy.
Legal Fees
Most personal injury lawyers work on contingency. They will only charge attorney fees once they recover a settlement or verdict on your behalf. Your lawyer will take a percentage of your award (usually between 33% – 40%) as payment for the representation.
Case Expenses
Your lawyer might front your case expenses. They will then deduct these amounts from your compensation.
Case expenses might include:
- Lawsuit filing fees;
- Postage and copying fees;
- Arbitration or mediation fees;
- Investigation expenses; or
- Expert witness fees.
Naturally, these deductions will reduce the total amount of compensation that you receive.
Contact an Experienced Florida Personal Injury Lawyer for Help Determining the Value of Your Case
The best way to determine how much you can get from your personal injury case is to contact an experienced Florida personal injury lawyer like the ones at Allen Law Firm. Your lawyer can help you identify all your damages and calculate the value of your losses. They can even bring in medical or financial experts to help assess your hard-to-value damages.
Most injury lawyers offer free consultations to potential clients. Contact a personal injury lawyer today to schedule a free consultation to discuss your case.
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