No one wants to go through the stressful and sometimes long process of filing a Florida personal injury lawsuit. But if you have been injured or otherwise harmed by someone else, a crucial factor in deciding what course of action to take moving forward is the dollar value of a potential lawsuit.
Every case is different, and every plaintiff has different circumstances, so determining the value of a potential lawsuit is a complex and relatively specific task. It is important to remember that no one will be able to give you a guarantee of a potential payout upfront. Still, here are a few common strategies designed to give you a general idea of how much your personal injury case may be worth.
Damages Available in Personal Injury Claims
Perhaps the most important question to answer when determining the value of your case is whether you have suffered damages. Generally, the more severe your damages, the higher the value of your case.
Some common examples of damages within the context of personal injury are:
- Physical injuries: This includes surgeries, medication, and emergency room visits; however, it can also consist of compensation for ailments like back pain, neck stiffness, or loss of feeling.
- Financial losses: This includes out-of-pocket costs associated with the cause of your legal action. Examples include lost wages, medical bills, and depreciation.
- Emotional harm: Losing a significant other or family member due to the acts of another could result in emotional harm. Trauma that requires therapeutic intervention may also be considered emotional harm or pain and suffering.
Who Is Responsible for Paying Personal Injury Damages?
Determining the economic standing of the party responsible for your damages is just as important as figuring out your damages. What many people do not know is that even if you sue and win, if the person you have sued has no assets, it will be difficult if not impossible to collect the money that is owed to you.
You may have already heard the phrase “deep pockets” in a personal injury context. This is used to describe a person who you sue (the defendant) who may have a large number of financial assets. Making sure that the party you are suing has the financial ability to pay is a step best taken prior to filing suit, and an integral factor in determining if your suit has any value at all.
Lawyer Fees & Other Costs
If by now you have a fairly good idea as to the value of your damages, there is still one additional factor that you must consider in assessing the value of your case. Depending on your location, lawyer fees can be up to 40% of your gross settlement. Add in the costs of investigating your claim and fees associated with filing the lawsuit, and you are then looking at your total take-home amount.
Remember, defending a lawsuit costs money too. So, the party you are considering suing must take this into account when deciding whether to settle. Only an experienced attorney can view your case and give you an educated idea of its value.
Florida Personal Injury Attorneys
At The Watson Firm, PLLC, our attorneys are devoted to protecting the rights of clients who have been unjustly harmed by others. Our personal injury attorneys can effectively advise you as to your options. We are prepared to aggressively pursue all remedies against those responsible for your injuries in order to get you the compensation you deserve.
Feel free to call our Pensacola personal injury attorneys at (850) 607-2929 or contact us online to consult with experienced counsel regarding your case.