Everyone who is thinking of filing a claim wants to know: how much is my car accident settlement going to be worth? The answer could range drastically from several thousand to hundreds of thousands of dollars.
If you have been in an accident and want some reassurance that you are going to be able to pay your hospital bills and get compensation for missed work, it’s best to consult with an attorney before filing a claim. Searching the internet is an excellent way to do some preliminary research on what you might be able to expect in a settlement, but the truth is, your case is vastly different from someone else’s.
While they are not the only factors for you and your lawyer to consider, three common factors can determine what you can expect in an accident settlement:
- The severity of your injuries
- Damage caps
- Personal injury protection coverage
The Severity of Your Injuries Could Affect Your Car Accident Settlement
If you are new to learning about Florida’s laws, you might be surprised to know that Florida is a no-fault state. The Sunshine State’s no-fault status requires victims of car accidents to first seek coverage for injuries through their own auto insurance provider.
For injuries that meet certain criteria, accident victims may file a liability claim against the at-fault driver. These criteria include the following:
- The injury is permanent
- The injury includes significant or permanent scarring
- The injury includes significant or permanent disfigurement
- The injury results in the loss of a bodily function
If you can establish that your injuries fall into one of these categories, you could be entitled to more compensation than what your insurance provides.
Damage Caps
In some cases, your claim may be subject to damage caps—legal limits on the compensation you can receive for your damages. For instance, punitive damages have caps in personal injury cases in Florida. These types of damages are designed to punish the person responsible for the accident to deter it from happening again.
Caps may also limit the type of damages that can be covered in a car accident settlement. Common exclusions include damages to emotional and mental health, though you can seek compensation for these damages through a third-party claim.
Personal Injury Protection Coverage
Florida drivers are required to carry at least $10,000 in personal injury protection coverage on their car insurance policy. While PIP can help to offset some of the initial costs of your injuries, it also has significant limitations.
One example is the time-limit on seeking coverage through PIP. Following an accident, you have 14 days to seek medical treatment in order to receive coverage. The amount of coverage can also be an issue if you have only the minimum requirement.
Get the Car Accident Settlement You Need
If you have been in an auto accident and want to explore your legal options, contact RRBH Law today.