Law Offices of Paul K. Schrier, PLLC

7 Factors that Impact a Florida Personal Injury Settlement

After you are injured, due to the fault or negligence of another person, you may wonder how much compensation you can receive.

One of the first things to understand is that there is no industry-wide, standard formula used for calculating the compensation received from an injury settlement. As your Fort Lauderdale injury lawyer will explain, there are several factors that will impact how much you can receive.

Some of the factors include how likely your case is to go to trial, the amount of liability or fault the other person may have, and if the insurer of the other party believes they are blameless. The liability issues depend on the facts of the case and are unable to be generalized. However, the damages factors that may impact your settlement amount are quantifiable.

The Extent of Your Injuries

This is one of the main factors considered by the insurance company of the liable party, as well as the jury. For example, if you suffer a spinal or brain injury that results in a permanent disability, you will receive more compensation than an arm or leg fracture would.

The Victim's Age

When considering monetary damages, this is another important factor. The logic behind this is actually pretty simple. A 30-year-old who suffers some type of permanent disability is going to lose more earning years off their life than someone who is 70 and no longer involved in any type of work activity.

Medical Treatment Costs

Another important consideration is the cost of the medical treatment for the injury. If the costs are higher, then the amount of compensation received is also going to be higher. All of the accumulated expenses, present and future, are going to be considered when weighing this factor.

Earning Capacity

The higher of an earning capacity you have, the more income you are going to lose. As a result, someone who makes $100,000 per year is going to receive more than someone with the same injury who makes just $50,000 a year.

Personal Life Impact

Some injuries can cause more than financial losses for a victim. For example, if they are paralyzed or suffer another serious injury, they may lose personal relationships. It can impact relationships with friends, family members, and even their spouse.

Future Impact of the Injury

How is the injury going to impact the individual in the future? Are they going to need on-going medical care and treatment? If so, this is going to be figured into the compensation offered.

Keep in mind, the information here represents broad examples of the factors that impact how much compensation you may receive after an accident. The insurance companies are going to work hard to dissect every factor to reduce how much they have to pay. This is a key example of why hiring an auto accident Attorney in Fort Lauderdale is so important.

Consult with Fort Lauderdale Personal Injury Attorney Today

A quality lawyer can help ensure the insurance sharks are kept at bay and can help you receive the compensation you need and deserve for the damages and injuries you suffered. If you need more help and information, contact us today.

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  • $3.1 million

    Recovered for a client in a Commercial Truck Collision case in Jacksonville.

  • $1.3 million

    Recovered for a client in a Personal Injury case in Fort Lauderdale.

  • $3.0 million

    Recovered for a client in a Premises Liability case in Orlando.

  • $1.5 million

    Recovered for a client in an Inadequate Security case in Miami.

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