Wondering how much is a traumatic brain injury would be worth? This article shares information about calculating damages for traumatic brain injuries.
A traumatic brain injury or TBI can have devastating effects. The most common cause of death and disability in children aged 15 to 44 is traumatic brain damage. Some of the impacts they may cause can be subtle, but others are not. Therefore, it is important to be proactive in pursuing brain injury compensation because if you don’t, you could suffer various health and financial problems.
What is a Traumatic Brain Injury?
A traumatic brain injury (TBI) is a severe injury to the brain that can cause significant long-term problems. The most common type of TBI is an accident that causes the head to hit something hard, such as the ground. Other kinds of TBI include being hit in the head by a ball or being shot. Even mild TBI can cause long-term problems, including memory loss, trouble concentrating, and difficulty speaking.
How Much Is a Traumatic Brain Injury Worth?
There is no way to tell how much your case will settle for, but it will likely be between $100,000 and $7 million in the worst cases of TBI. The brain is quite sensitive to impact, and medical bills as well as the risk of long-term or permanent damage is high. This may lead to many instances of settlements reaching several million dollars.
If you have suffered a traumatic brain injury, know that your case is not guaranteed to settle for that amount. However, our attorneys will do everything in their power to get you the best settlement possible for your damages. We will do everything we can to help you get a fair settlement covering your current and future medical bills and pain and suffering. Contact our law office today for a free consultation.
What Goes Into Calculating Damages?
To help assess your settlement’s value, we analyze two specific categories of damages: economic and non-economic.
These damages consist of:
- Lost wages or a decreased earning capacity
- Damage to property, replacement or repair costs for vehicles, etc.
- Medication expenditures, healthcare bills, costs associated with assisted living, etc.
If you file an insurance claim for economic damages, insurance companies may reimburse for what you lost due to your head injury. However, insurance companies are notorious for trying to lowball settlements, which is where having your attorney lead those negotiations is key.
These damages are a little more complex to calculate. Typically, non-economic injuries include:
- Loss of life enjoyment
- Loss of consortium
- Unjust death
- Distress and suffering
- Mental distress
There are many ways to calculate and value these damages. Still, our attorneys will use a combination of formulas and holistically approach the merits of your non-economic damages to determine their value in your settlement.
Punitive Damages Play a Role in Your Settlement, Too
The damages awarded to the plaintiff after a defendant is found guilty of negligence are called punitive damages. Individual states have different laws on this topic but don’t receive awards to reimburse you or provide compensation; they serve as punishment against the person who caused your accident.
Remember that before you can pursue punitive damages, you must first meet the requirements established by the laws of your state. In Florida, the punitive damages statute allows the greater of up to three times the amount of compensatory damages, or $500,000, whichever is higher, as punitive damages.
How Can the Severity of a TBI Make it More or Less Valuable?
According to the National Institute of Neurological Disorders and Stroke, moderate to severe brain injuries have an abysmal prognosis. Not much can be done to cure the victims after their injuries. Victims still face disabilities or other long-term effects even after costly medical procedures and surgeries.
For example, a mild TBI might only require Rest and Recovery (R&R), while a more serious TBI might require brain surgery, followed by a more extended rehabilitation period and additional medical care.
There is no definitive answer to this question since a TBI’s value can depend on various factors, including the individual’s age, occupation, and health condition. However, an estimate of the minimum value of a TBI in Florida is $100,000.
Want to Learn More About the Value of Your TBI?
If a traumatic brain injury has injured you or someone you know, you must speak with an experienced lawyer as soon as possible. Contact RRBH Law at 305-800-4663 for a free consultation to learn more about your legal rights and what steps you can take to ensure the best possible outcome.