How is Compensation Calculated in a Personal Injury Case?

Suffering injuries from accidents caused by someone else’s negligence can be a traumatic experience. Apart from physical and emotional pain, it can result in financial loss due to medical bills, lost wages, and property damage. The compensation you receive helps you recover the expenses and seek justice for the damage. So, do you know how compensation is calculated in a personal injury case?

The compensation in a personal injury case is determined based on the severity of the injury, the extent of damage caused, and its impact on your daily life. The court considers various factors while determining compensation. The primary factors include the nature and extent of the injury, medical expenses, loss of earnings or future financial damages, and pain and suffering. Insurance companies also take into account future medical bills or long-term disability that you may suffer from a personal injury.

The court considers many other factors while calculating compensation, including loss of consortium, the cost of household help, and the loss of enjoyment of life. If you were self-employed, the court looks into business losses, effect on future earnings, and the decrease in the value of the business due to the injury.

In Florida, the “comparative negligence” rule applies in personal injury cases. This rule implies that the compensation amount is reduced proportionally to the victim’s percentage of fault in the accident. So, if you are found partially responsible for the accident, the court will reduce your compensation accordingly. For instance, if you have a personal injury of $100,000 and the court finds you responsible for 30%, you are entitled to $70,000 ($100,000 – 30%) of compensation.

Usually, the person or entity responsible for the accident pays the compensation amount. If the other party is covered under an insurance policy, the insurance company pays the amount. If the responsible person isn’t insured, they will have to pay the amount from their pocket. You might have to file a lawsuit against them to recover the compensation. If you were in a hit-and-run case, your own uninsured motorist coverage or UM coverage can cover your compensation.

Personal injuries can leave a significant impact on the victim’s life, health, and finances. Determining compensation isn’t easy and varies on a case-by-case basis. It is essential to seek the assistance of an experienced personal injury attorney to navigate the process and ensure that your rights are protected. At Julio R More Law Offices, we are committed to assisting the Florida public with personal injury matters. If you have suffered an injury due to someone else’s negligence, don’t hesitate to contact us for expert guidance and representation.