How to Calculate a Personal Injury Settlement in Florida
One of the most common questions accident survivors have when discussing their personal injury case with an attorney is, “How much is my claim worth?” After all, it makes sense that you would want to know if the amount of time and effort you are putting into your lawsuit is going to pay off in the end.
Calculating the value of your economic and non-economic losses is the first step in answering your question. We have gone into further detail below about what losses are taken into consideration as we calculate the value of your personal injury claim.
Reviewing Your Economic Damages
The first step in figuring out what your claim is worth is to take a look at your economic damages. These will consist of your financial losses and could include items like your medical expenses and equipment, your lost income, the damage to your future earning potential, and any property damages you might have incurred, like car repairs resulting from a vehicle wreck.
Financial losses are easier to quantify, as they have a monetary value attached to them from the start. You simply add up these values to determine what your economic damages amount to. It is your nonfinancial losses that are more of a challenge.
The Value of Nonmonetary Damages
Your nonmonetary damages, or non-economic damages, are the losses that have affected you physically and psychologically. They have little to do with money and instead focus more on how your life as a whole has been affected by the accident.
Your pain and suffering, loss of enjoyment of life, loss of companionship and love, mental anguish, and loss of household services, for example, will all be taken into consideration when calculating the value of your claim in Florida.
There are a couple of different ways your attorney can determine what your non-economic damages are worth, but in order to calculate the value of your lawsuit, your personal injury lawyer will first need to know every single loss you have suffered.
Meet with a Florida Personal Injury Lawyer
If you have additional questions about how much you could be awarded if you choose to bring the person liable for your injuries to justice, reach out to an experienced Florida personal injury lawyer at Anderson & Anderson for help with your claim.
We offer free consultations to injury victims across Florida. You can take advantage of this opportunity by calling our office at 813-251-0072 or submitting the online contact form we have included below.