If you’ve ever wondered how personal injury settlements are calculated, you’re not alone. The process might seem confusing, but there’s a clear framework attorneys use to determine the value of your claim.
Determining Fault
The first step is figuring out who caused the accident. Was the other driver completely at fault, or were you partially responsible? In Florida, comparative fault applies, which means your settlement could be reduced if you’re found partially to blame. Sometimes, multiple parties share responsibility, and that’s factored in as well.
Calculating Economic Damages
Next, your lawyer will assess your economic damages—the financial costs directly tied to your injury. These include:
- Past and future medical bills related to treatment.
- Lost wages from time you’ve already missed at work.
- Loss of earning capacity if your injuries prevent you from returning to your previous job or earning the same income in the future.
Experts like vocational rehabilitation specialists and economists may be brought in to help calculate these long-term losses and bring them to present value.
Calculating Non-Economic Damages
Beyond the financial costs, you may also be entitled to non-economic damages. In Florida, these go beyond “pain and suffering” and can include:
- Physical pain
- Mental anguish
- Inconvenience
- Loss of enjoyment of life
- Disability
- Scarring and disfigurement
Both your past experiences and your expected future challenges are considered.
Putting It All Together
Every detail matters—from the extent of vehicle damage to the severity of your injuries. Your settlement is based on a combination of fault, economic losses, and the human impact of your injury.
Don’t leave money on the table. Contact Hancock Injury Attorneys today for your free consultation and let us fight to maximize the settlement you deserve.