How is My Car Accident Settlement Calculated in Florida?


If you’ve ever been in a car accident, you know that one of the first questions to enter your mind is who will pay for the damages. From fender dents to broken bones and lost wages from missing work, the costs that come after a car crash can quickly add up. Apart from the physical damage, emotional pain and suffering can accompany the list of post-accident issues – further hindering your ability to heal and move on from the incident. This is why it is important to obtain the services of a car accident attorney after a crash. An experienced lawyer will help understand how the Florida car accident settlement process works and help you obtain the best settlement possible.

The Florida car accident settlement process works on this fundamental: if you have suffered injury and inconvenience because of another person’s negligence, then you have the right to receive compensation that will place you back in the financial position you were in before the accident. Below, we will review how the settlement is decided.

Damages Considered when Calculating an Injury Settlement
In Florida, several types of damages qualify for compensation.

Noneconomic damages – also known as general damages, pain and suffering, inconvenience, emotional distress, loss of a partner, and loss of enjoyment of life all qualify for compensation if they are the result of another’s negligence.
Economic damages – also known as special damages, these include the costs of medical treatment – current and future – future lost earnings, out-of-pocket expenses, and property damage.
Punitive damages – these are fines in the form of punishment.

Calculating Compensation Based on Damages
In order to receive compensation for non-economic damages, you must prove that your injuries pass the Tort Threshold. Injuries that exceed this threshold include significant and permanent loss of a bodily function; scarring and disfigurement; permanent injury; or death. Then comes the matter of putting a price on these injuries.

When non-economic damages are involved, attorneys will use a multiplier to calculate the damages owed to you. The multiplier is the cumulative costs of your bills relating to the car accident multiplied by a number between 1.5 and 5, depending upon the severity of the injuries. Factors that decide severity include severity and treatment of injuries, level of permanency of effects, and impact on daily life.

Punitive damages are given when the defendant’s conduct is decidedly beyond ordinary negligence. There are limits on these damages, however—sums cap at three times the sum of your economic and non-economic damages, or $500,000.

You Need a Car Accident Attorney
An experienced car accident attorney should be high on your list of people to call after a car crash. Cohen & Newmark PLLC will talk to you about the specifics of your case and advise you on the next steps, which can even include medical specialists trained in treating post-accident injuries. Further, the lawyers at Cohen & Newmark will be able to advise you on the types and value of the damages that you qualify for.

Reach out to us online or call us at 1-800-CALL-LEE today if you have been in a car accident.

Justice is our everlasting mission. 
At Cohen & Newmark PLLC. we pride ourselves on providing our clients 
with the most professional legal representation during their time of need. Cohen & Newmark PLLC. has a national reputation for successfully helping victims obtain justice.

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