Being involved in a car accident can be a terrifying, traumatic experience, even if you are not injured in the crash. However, being injured in an accident can have serious, long-term impacts on your life that go beyond your psychological and emotional wellbeing and impact every area of your life, from income to your ability to pursue your hobbies and passions. While no amount of money will ever be able to undo an accident, a fair financial award for your experience can go a long way to reduce your stress and alleviate financial worries. This is where insurance companies come in, but unfortunately, the process is never as simple as would be ideal.
When you file a claim with an insurance company, insurance agents spring into action to investigate your case in order to identify every possible reason to limit the amount of money that you ultimately receive. It is an unfortunate reality that this process is stacked against the victim, who is trying to come to terms with their injuries while also dealing with a massive company focused entirely on saving themselves money, not on paying victims what they actually deserve.
The tactics that insurance companies use can be extremely overwhelming, and when a victim finds themselves in complete despair, often tend to accept a low offer while waiving their rights to seek any future damages, regardless of whether or not new information arises or new developments unfold. This is why it is so important to work with a personal injury attorney through the entire process.
1-800-Injured Will Connect You With an Attorney Today
In the early days following a car accident, the idea of tracking down an attorney to take your case can understandably seem like an unnecessary step that will just add to the complexity of your situation. However, using a referral service, like 1-800-Injured, can be the difference between a low-stress process towards a fair settlement, and suffering the long-term impacts of accepting a settlement that won’t adequately cover your damages. Instead of taking on the additional burden of finding a lawyer who is in your area, available, and willing to take your case, let us do the leg work for you.
1-800-Injured is an attorney and medical referral service that connects car accident victims with attorneys. Read more below about how your attorney will help you calculate damages after a car accident and then fight to get you the money you deserve. Contact us as soon as possible to take the first step towards getting the legal support that you deserve, so you can get the compensation that you are entitled to.
Calculating Damages After a Car Accident
The central question in any insurance claim is that of damages: how much is the victim owed, and how much does the insurance company want to pay? Generally, these two figures are very different, and at odds with each other. Your attorney will have the experience it takes to help close the gap between these two amounts, whether through out-of-court settlement negotiations or through a lawsuit in the Florida court system. Regardless of how these differences are resolved, it is important that you have a legal representative who fights for your rights.
Damages in a personal injury case are known as “compensatory damages,” in that they compensate the victim for measurable impacts on their lives. In rare cases, there are additional “punitive damages” that a judge or jury may award at the end of a trial, but these are not part of negotiations, nor are they factored into the requested amount, so your attorney will never attempt to include these types of damages. Compensatory damages are divided into two types, economic and non-economic, both of which we will explain in greater detail below.
Economic damages are the basis of your personal injury cases and seek compensation for the measurable financial impacts on your life that the accident and associated injuries have caused. They include things like your medical bills and all associated treatment costs, such as copayments, medications, assistive devices, care not covered by your insurance, and more.
In addition to your medical issues, economic damages also seek to recover impacts on your earnings, such as reduced earning capacity, lost wages, and even short-term or long-term disability in the event that you suffer permanent injuries. There are many other economic damages that an experienced attorney will work to account for, as well, but it is important that you partner with an attorney early in the process so that they have ample time to perform their own investigation.
Non-economic damages tend to be much trickier to calculate, and therefore are subject to more aggressive pushback from the insurance company. These types of damages seek compensation for the types of damages from an accident that do not come with a price tag, such as the pain and suffering that a victim must endure after being injured, or the emotional impact that such a traumatic experience can have on someone.
There are many different ways that an attorney can calculate non-economic damages, but it is important that they approach these damages with the intention of getting you as much money as you are entitled to without appearing predatory or unreasonable. If your attorney comes up with a figure that is much too high, it may have a serious impact on further negotiations and can cast you in a bad light with the judge or jury if you go to court.
One of the most common ways that an attorney calculates non-economic damages after a Florida car accident is by using a multiplier. In order to use this method, the victim’s non-economic damages are taken into account collectively and then placed along a scale, typically from 1 through 5. Once this number along the scale is determined, it is then multiplied against the total economic damages in order to reach a dollar amount. For example, a multiplier of 2.5x and economic damages of $100,000 will result in non-economic damages of $250,000.