Determining the value of a car accident case in Florida requires you to consider a variety of factors. It is advised to seek help from an experienced Lakeland auto accident attorney to calculate your car crash compensation amount.
If you were injured in a vehicle crash but are not sure how much compensation you are entitled to, you need to understand that your car accident settlement may be comprised of:
- Economic damages
- Non-economic damages
- Punitive damages
Also, there are factors that may impact the final amount of compensation you are entitled to. In personal injury cases, compensation can be either (a) negotiated between the injured and at-fault party or (b) determined by a judge or jury if the car accident case goes to trial.
Economic Damages
Economic damages are any damages suffered by the injured party that can be measured by a bill, pay stub, invoice, tax returns, or receipt. These include:
- Medical expenses
- Lost wages
- Lost income due to lost time from work
- Diminished earning capacity
- Out-of-pocket expenses
- The cost of repairing or replacing damaged or destroyed property
Non-Economic Damages
While economic damages have a measurable and tangible amount, non-economic damages do not have a clear monetary value attached to them. Calculating non-economic damages is a subjective matter. These damages include:
- Pain and suffering
- Mental anguish
- Emotional distress
- Disability or disfigurement
- Diminished quality of life
- Loss of enjoyment of life
- Loss of consortium
- Losses related to the injured party’s reputation
Punitive Damages
Punitive damages are rarely awarded to the injured victim in car accidents and other personal injury cases in Florida. Punitive damages are available only when the defendant’s conduct is especially harmful, outrageous, grossly negligent, wanton, or intentional.
For example, punitive damages may be available to the victim of a drunk driving accident because the impaired driver showed a conscious disregard for the safety of others. As its name suggests, punitive damages are intended to punish the defendant for their misconduct and also deter others from engaging in similar conduct in the future.
Compensatory damages, on the other hand, compensate the victim for their losses and damages.
What Other Factors Impact the Value of Your Car Accident Case?
Once economic, non-economic, and punitive damages are calculated, the total amount of compensation could be reduced due to:
- The injured party’s failure to mitigate their damages (e.g., by seeking medical attention right away or following all of the doctor’s orders); and
- Florida’s comparative negligence rule if the injured party was partially at fault for the crash.
If you were partially to blame for the auto accident, the final amount of compensation could be reduced by the percentage of your fault. For example, if your damages total $200,000, but you were deemed 30% at fault for the collision, your car accident case would be worth $140,000.
Contact a Lakeland car accident attorney to calculate your damages and determine the value of your particular case in Florida. Schedule a free consultation with our lawyer at The Turnbull Firm by calling at 863-324-3500.