Determining How Much Your Personal Injury Case is Worth

After you have sustained an injury in an accident, your first thoughts are likely geared toward your recovery. After that, you may be wondering about pursuing compensation for your injuries and how much your case would be worth. It’s a fair question, but not one that’s easy to answer.

Many different types of damages may be available in your case. To determine the value of your claim, look at whether every kind of damage applies to you. If it does, you assess your losses in that category. The total of your damages is the value of your case. Here’s what you need to know about determining how much your personal injury case is worth.

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Factors That Contribute to the Value of a Personal Injury Claim

Multiple factors affect how much your legal case is worth. You must carefully consider all relevant costs you can include in your claim before you begin negotiations to recover damages to ensure you get the maximum compensation available. You may need a personal injury lawyer to help you calculate how much to seek, particularly if you suffered debilitating injuries that will impact your quality of life and earning potential for years to come.

Injury-Related Costs

Monetary or economic damages are expenses incurred because of your injuries. You can seek reimbursement for most of the bills you must pay because of your accident. This amount varies based on your injury severity and unique needs. Suppose you’re paralyzed and need to use a wheelchair after your accident, preventing you from returning to your career as an electrical power line installer and repairer. In addition to the lost income you can claim while you receive medical treatment, you can claim education fees for job retraining. You can also seek compensation for future costs, such as future medical expenses.

Examples of injury-related costs you can seek reimbursement for include the following:

• Burial and funeral expenses: These costs apply if your loved one suffered a wrongful death in the accident
• Childcare costs: You may have to hire a nanny or pay for daycare if you’re unable to care for your minor children because of your injuries
• Home care costs: You may be able to seek reimbursement for the costs of hiring a house cleaner and yard maintenance team if you cannot look after your property because of your injuries
• Lost income: If you cannot work, you can seek reimbursement for lost wages. You can also seek reimbursement for anticipated future income losses. Future income losses apply if you need extensive treatment to recover fully, if you need to train for a new career because you’re unable to return to your current job, or if your injuries cause a permanent disability.
• Job retraining: You can claim education costs if you need to change careers because of your injuries
• Medical expenses: You can claim all medical bills from your injuries, including medical tests, surgeries, medications, physical therapy, and counseling. The severity of your injuries affects your settlement because you will have higher medical bills for more severe injuries.
• Personal care costs: Suppose you suffer severe injuries that interfere with your ability to bathe, feed yourself, or perform other daily living tasks. You may need a personal care aide to assist you during your recovery. You can seek reimbursement for those expenses. 
• Property damage costs: Suppose you were in a car accident, and your vehicle was totaled. You can seek reimbursement for the cost of replacing your vehicle. If your car was damaged, you can claim the cost of repairs.
• Relocation expenses: You can seek reimbursement for moving costs if you need to relocate because of accessibility issues due to your injury. Alternatively, you can seek remodeling costs if you need to install ramps or railings or make other structural changes to your current home.
• Transportation costs: You can seek reimbursement for transportation costs if you cannot drive during your recovery

It should be noted that the cost of legal representation isn’t typically included in your monetary damages. Personal injury case claimants normally pay contingency fees. These fees are a percentage of your settlement or judgment. Although judges sometimes order compensation for legal fees, this only occurs if you fail to settle and win your case at trial. Since approximately 90% of personal injury cases settle out of court, receiving a judge’s order for compensation for legal fees is unlikely.  

Personal Cost

It’s natural for injury victims to feel shocked and frustrated after an accident. However, severe injuries can impact your mental health, quality of life, and sense of self-worth. Non-monetary or non-economic damages acknowledge the personal costs of your injuries.

Reasons for these compensatory damages include the following:

• Anxiety
• Depression
• Grief
• Loss of consortium
• Loss of quality of life
• Pain and suffering 
• Post-traumatic stress disorder (PTSD)

Punitive Damages

Punitive damages apply to cases involving gross negligence. When the at-fault party demonstrates reckless disregard for the safety of others through their actions or inactions, you can argue that they’re guilty of gross negligence, which justifies punitive damages. 

Insurance Policies and Coverage

Negotiating with the at-fault party’s insurance company is a standard part of an injury claim. If possible, you’ll settle out of court because it reduces the waiting period for receiving the compensation. Going to court takes longer; even if you receive a favorable judgment, the defendant can appeal. However, insurance companies attempt to limit the settlement amount based on the at-fault party’s insurance policy terms. Consequently, it can be challenging to receive fair compensation if the at-fault party is underinsured or uninsured.

You may agree to a settlement based on the at-fault party’s insurance policy. However, suppose you agree to an amount greater than the policy limit. In that case, you may attempt to seize assets to compensate for the amount of the settlement their policy does not cover. 

Comparative Negligence and How It Affects the Value of Your Case

Florida’s comparative negligence laws can affect your settlement amount if you were partially responsible for the accident. Suppose investigators determine that Party A is 90% responsible, and you were 10% at fault. Party A would pay 90% of the total settlement or judgment in that case. 

Methods Used To Estimate the Value of a Personal Injury Claim

In addition to the different factors justifying economic and non-economic damages, different approaches are used to determine how much compensation to seek.  

Calculation Method

The calculation method involves totaling the economic damages you can seek through your lawsuit. You list injury-related expenses and use your bills or pay stubs to determine the cost of each expense. You can also calculate anticipated future expenses.

Multiplier Method

The multiplier method applies to non-economic damages. Once you calculate your economic damages, you multiply that number to determine how much non-economic compensation to seek. Suppose you’re expected to fully recover from your injuries after four to six months of medical treatment. Your economic damages total would be multiplied by one. However, suppose you suffered severe injuries. You need multiple surgeries and years of treatment because of these injuries. In that case, your economic damages could be multiplied by three or four. The maximum amount available with the multiplier method is five times your economic damages. 

Daily Rate Method

The per diem method assigns a dollar value to each day impacted by your injuries. Sometimes, people use the average amount they earn daily and multiply that by how many days they suffer from their injuries. People with severe injuries may struggle to calculate accurately with this method because it’s impossible to know if or when they will fully recover. 

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Expenses That Will Be Taken From the Settlement Amount

You will not receive the total settlement or judgment when you resolve your case. Since personal injury attorneys charge contingency fees, your attorney will receive a percentage of your damages. 

In addition to your attorney’s fees, you may also pay costs, such as court fees. The fees you pay should be identified in your contract when you hire an attorney.

You may also have medical liens to clear or outstanding medical bills to pay when you receive compensation. 

Changes in Florida Law — Damage Caps

You may have heard that Florida law imposes damage caps on certain types of damages. Until recently, Florida limited non-economic damages in medical malpractice cases. That is, a victim of medical malpractice couldn’t recover more than $750,000 for things like pain and suffering and emotional distress.

In June 2017, the Florida Supreme Court ruled that these caps were unconstitutional. They said the caps were arbitrary and stated that it was unfair to apply the cap in cases where the victim’s losses are greater than that amount.

Even though the Supreme Court threw out the non-economic damages cap, a cap on punitive damages currently remains on the books. This law limits punitive damages in all cases to three times compensatory damages or $500,000, whichever is greater. Victims will likely challenge this cap in the future in light of the Supreme Court’s decision to end non-economic damage caps.

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How Long Does Receiving a Settlement Check Take After the Case Is Settled?

Suppose your settlement negotiations are successful, and you agree to compensatory damages. The insurance company usually sends you a check a few months after you sign the settlement agreement.

It may take longer to receive your maximum compensation if you have to seize assets because the at-fault party is underinsured. First, you must identify assets that aren’t protected under Florida’s exemption laws. Then, you follow the legal process for seizing and selling those assets to recover the amount owed. 

How an Attorney Can Help

It’s possible to file your personal injury claim and seek damages yourself; however, personal injury victims typically receive higher compensation when they turn to an experienced personal injury attorney because their attorney has the skills, knowledge, and resources needed to build their case. Matters your legal counsel handle include the following:

• Accident investigation
• Court paperwork preparation and filing
• Responses to defendants
• Establishing fault
• Calculating damages
• Settlement negotiations

Your personal injury attorney will answer your questions about your Tampa injury accident, update you about their progress, and explain your options throughout the settlement negotiations. Your attorney will also represent you in court if the at-fault party’s insurance company refuses to negotiate or offer fair compensation.

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If You Have Been Injured in an Accident, Let Jack Bernstein, Injury Attorneys, Fight for You

For more than 40 years, personal injury lawyer Jack G. Bernstein has protected the rights of individuals who have been injured in a variety of circumstances. Throughout his career, Bernstein has been a strategist who is thoroughly dedicated to protecting his clients’ rights. Mr. Bernstein is a member of the Florida State Bar Association, the Hillsborough Bar Association, and the Clearwater Bar Association. Mr. Bernstein has the experience and expertise to handle various injury cases. Among the types of plaintiffs Mr. Bernstein represents are individuals involved in car accidents caused by drunk drivers or others exhibiting negligence, medical complications resulting from carelessness caused by a physician or a medical facility, including brain injury, bicycle, motorcycle, moped, and truck accidents, admiralty law and cruise ship accidents, accidental drownings, all types of wrongful death lawsuits, along with most injury, catastrophic occurrences, and legal malpractice issues.

Our firm handles every type of personal injury and accident case, effectively using negotiation and litigation tactics. We handle cases throughout Tampa, Sarasota, St. Petersburg, and Clearwater, FL. With a staff of approximately 40 people, including six lawyers and 34 support personnel, we have the legal resources to get the justice you deserve and the maximum recovery for your losses. Schedule your free consultation today; we are always here to help.

Sources:

Consumer Pamphlet: Attorneys’ Fees. (2018). 

Florida Supreme Court Opinions. (2024). 

Kagan, J. (2023). Comparative Negligence: Definition, Types, and Examples. 

Lee, C. (2024). Why Do Most Personal Injury Cases Settle?

Meyer, R. (2021). Florida Exemptions and How The Same May Be Lost.