If you have suffered a slip and fall injury at a Florida establishment, you might be struggling with a number of financial and emotional issues. Perhaps you’re facing a pile of medical bills as you attempt to treat injuries such as broken hips, brain damage, fractured wrists, and others. Maybe these injuries are preventing you from returning to work, resulting in weeks or even months of lost wages. Perhaps your injuries are so severe that you will never work again. Whatever the case may be, there’s nothing wrong with wondering how much your personal injury lawsuit might be worth. So how much could you receive?
How a Settlement is Calculated
If you slip and fall in a Florida store, your settlement amount will be calculated based on a number of factors. These are known as “damages,” and they represent the losses you have suffered as a result of your accident. These losses can be either financial or emotional. Financial losses are known as “economic damages,” while emotional losses are known as “non-economic damages.”
- Non-Economic Damages: These include things like emotional distress, pain & suffering, depression, anxiety, PTSD, disfigurement, loss of consortium, and loss of enjoyment of life.
- Economic Damages: These include things like lost wages, medical expenses, and funeral costs.
But how do you calculate the value of your non-economic damages if these losses are not associated with financial expenses? What is the “cost” of developing PTSD or depression? How much is pain and suffering worth as you receive surgery for your various injuries?
Non-economic damages are simply assigned a “general damages multiplier.” This number is usually somewhere between 1 and 4, although damages multipliers of up to 10 are not unheard of.
This number is then multiplied by your total economic damages to give you the total value of your settlement. For example, let’s say you slipped and fell in a grocery store, breaking your hip in the process. The injury might have taken 2 months to fully heal, resulting in $10,000 of missed wages. In addition, your medical treatment might have cost you $50,000. This means that your total economic damages equal $60,000.
You might then be assigned a general damages multiplier of two. This would then be multiplied by your total economic damages for a settlement worth $120,000.
Going to Trial
The above example only really applies to settlements provided by insurance companies. Nine times out of ten, this provides injured plaintiffs with an acceptable amount of compensation. But if negotiations break down or the defendant refuses to provide an adequate settlement, a trial may be necessary. At the end of the trial, the jury decides how much you should be awarded in compensation. This number can vary tremendously. In the context of the above example, you might receive more than $120,000 — or you might receive less.
Where Can I Find a Qualified Personal Injury Attorney in Lake City?
If you’ve been searching the Lake City area for a qualified, experienced personal injury attorney, look no further than Koberlein Law Offices, LLP. Over the years, we have assisted numerous injured plaintiffs — including those who have suffered slips and falls on the premises of negligent parties. Book your consultation today, and we can discuss the specifics of your case — including the extent of any compensation you may receive. Reach out today to get started.
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KOBERLEIN LAW OFFICES, PLLC
855 SW Baya Drive
Lake City, FL 32025
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