How Much to Ask For in a Personal Injury Settlement in Florida?

How Much to Ask For in a Personal Injury Settlement in Florida?

How Much to Ask For in a Personal Injury Settlement in Florida?

Auxilia SEO | January 9, 2023


Call (407) 454-3000 to hire legal counsel from Simmons Law Group for your injury settlement today.

Automobile accidents can cause tangible and intangible losses that significantly affect the victim’s life. With the adversity following one of these incidents, many car accident victims might be able to seek damages by working with a personal injury lawyer. 

While these professionals can help assess the viability of your case, many victims wonder how much to ask for in a personal injury settlement in Florida. One of the best ways to determine costs is to hire a personal injury lawyer in Winter Park, FL

With experience counseling many victims in these cases, legal professionals from The Simmons Law Group can help you evaluate strategies for pursuing your injury settlement. 

Who Pays for Personal Injury Settlements?

While personal injury settlements may sound like legal action against the perpetrator responsible for the accident, Florida’s no-fault law makes these cases a little more complex. Florida’s no-fault law in automobile accidents means that no party involved in a crash can be fully responsible legally. Ergo, both parties may be able to seek damages for car accidents.

The factor of paying for these settlements ultimately comes down to insurance companies. So, instead of pursuing compensation from the individual, you’re filing a claim with both insurance companies, yours and theirs. 

Pursuing Settlements with Insurance Companies in Florida

Since insurance companies are profit-driven entities prioritizing their earnings, so pursuing personal injury settlements can become complex. While your insurance company will likely try to lower your payment, having proper evidence to support your claim amount can keep the number closer to your goal. 

Since many victims wonder how much to ask for in a personal injury settlement, hiring legal counsel can help you construct the strongest possible case and figure out what evidence you might need to combat insurance company rebuttals. 

Factors Impacting Your Injury Lawsuit Claim and Settlement Amount

Many factors impact how much you can ask for in your settlement. These range from substantial economic damages to more abstract ones like mental health decline or long-term personal suffering. Nevertheless, all these factors are valid contributors to your injury settlements.

Some of these factors include:

  • Medical expenses
  • The extent of your injuries
  • Mental health adversities after the accident
  • Demographic information: age, health, and income
  • Other familial sufferers present during the accident
  • Insurance policies
  • Long-term health changes

These variables will play into the amount insurance companies offer for your settlement. However, hiring a lawyer skilled in negotiation tactics and personal injury law can strengthen your case and help you navigate it more effectively.

Damage Categories

One facet of personal injury cases is the need to categorize your damages. These categories give all parties involved an overview of the comprehensive scope of the accident’s impact on your livelihood. These categories play a crucial role when considering how much to ask for in a personal injury settlement.

Economic Damages

Economic damages include any measurable expenses, including but not limited to medical treatments, automobile damage, enduring medical care, travel expenses, lost earnings, and even legal fees. These damages can strengthen a case because they are measurable and recorded adversities.

Non-Economic Damages

Non-economic damages are less measurable but equally important factors in determining the suitable amount for your injury case. Pain and suffering, mental wellness decline, and long-term decrease in quality of life are some non-economic damages that contribute to settlement amounts. While accurate records cannot justify these losses, there are other ways to calculate the value of your non-economic damages.

Calculating the Total Damages in a Personal Injury Lawsuit

Considering the importance of economic and non-economic damages in personal injury lawsuits, it’s crucial to acknowledge the calculation methods for final settlement requests.

As mentioned, non-economic damages have no objective measures to justify the costs of these adversities. Instead, you can use the Multiplier Method, which considers the degree of your non-economic damages with measurable economic damages. 

For example, depending on the severity, you’ll multiply economic damages by a factor of one to five to find an appropriate settlement number. This method is why most personal injury cases average between $3,000 and $75,000. 

Keep Records of Your Economic Damages

It’s crucial throughout your post-injury experiences to keep records of any economic damages. Such documents can include anything from medical and car mechanic bills to fees for your legal expenses. Ensuring adequate objective support for your economic damage claims can strengthen your case.

Obtain Tangible Support for Non-Economic Damages

While non-economic damages may not have a clear record, there are ways to get evidence that you are experiencing pain and suffering that may qualify you for compensation. Keep records of your post-accident experiences and record any mental health episodes, fear of job loss, therapy records, or documents demonstrating your decreased state after an accident. Justifying unmeasurable non-economic damages is an excellent way to legitimize your case.

Involvement of an Insurance Adjuster

An insurance adjuster may contact you throughout your pursuit of a personal injury case. These parties work for the insurance company and will likely try to get statements on record from you that can lower your settlement. Remember that you should never consent to a recording by insurance adjusters, and you have the right to refuse to speak to them without a lawyer present.

Limitations on Pursuing More Significant Legal Action

After finalizing a personal injury settlement, there is no chance of further legal action. Thus, hiring legal counsel to advise strategy and validate your payment is vital. 

Hire a Personal Injury Attorney From The Simmons Law Group

Because of the complexity of personal injury cases, hiring legal counsel can help victims in many ways. With experience assisting numerous personal injury clients in constructing strong cases, calling legal professionals may be the right first step for you to seek damages.

For more information on how much to ask for in a personal injury settlement or to hire assistance constructing a good personal injury case, call (407) 454-3000 and speak to legal professionals from The Simmons Law Group today!