How Are Non-Economic Damages Calculated In A Personal Injury Claim?
Non-economic damages are incredibly important in many personal injury lawsuits. As the name suggests, these damages are not financial in nature. So what exactly are they? Why do they matter? And how can you claim non-economic damages in your upcoming injury lawsuit? The most important thing to remember is that non-economic damages can increase the value of your settlement on an exponential level. But what else do you need to know?
Your first step should be to get in touch with a qualified, experienced criminal defense attorney in Orlando. From there, your attorney can assess your unique situation and determine the best path forward. Many plaintiffs have non-economic damages without fully realizing. Your attorney can help you pursue a fair, adequate settlement based on your total damages, including emotional and mental issues that you experienced due to your injuries.
Florida Is a No-Fault State
The first thing you need to realize is that Florida is considered a “no-fault” state when it comes to car insurance. This means that if you were injured in a car accident, you can file a claim without ever proving negligence. While this process streamlines the claims process, it prevents you from receiving compensation for non-economic damages. In the case of very serious injuries, however, you may be able to step outside the no-fault system and recover compensation for non-economic damages.
What are Non-Economic Damages?
Non-economic damages represent psychological and emotional issues rather than financial losses. Examples include:
- Emotional distress
- Pain & suffering
- Loss of consortium
- Loss of enjoyment of life
How Are Non-Economic Damages Calculated?
If non-economic damages have nothing to do with economic losses, then how do you calculate their value in a personal injury claim. Typically, you are assigned a “general damages multiplier” based on the severity of your non-economic damages. This may range from 1-4, although multipliers as high as 10 are possible. This means that your total economic damages (missed wages, medical expenses, etc.) are multiplied by this number, giving you a much larger settlement.
For example, you might have a total of $220,000 in economic damages. Your non-economic damages may result in a general damages multiplier of 4, giving you a total of $880,000 as your settlement. Keep in mind that this system applies to settling out of court, which is how the vast majority of injury cases are handled. However, your case could be decided by a jury, who can essentially provide you with any level of compensation they think is fair.
Enlist the Help of a Qualified Attorney Today
For help from our skilled Orlando personal injury lawyers, contact Payer Law. With our assistance, you can strive for the best possible results in a highly confident manner. It’s best to book a consultation right away, as the statute of limitations can prevent you from suing if you wait too long. Remember, internet research can only get you so far, so reach out today for personalized advice.