Matthew Mincone | September 17, 2024 | Personal Injury
If you have filed a lawsuit after being involved in a personal injury accident, you may recover compensation through a settlement. Personal injury lawsuits could vary from car accidents to slip and fall accidents. Usually, lawsuits either go to trial or settle. When a case goes to trial, it could be a bit of a risk since the jury members decide how much the accident victim should be awarded. Often, parties end up settling. A settlement is an agreement between both parties on a specific amount of compensation the defendant is to pay the plaintiff.
Many factors could affect your amount of compensation. We recommend speaking to an experienced attorney for a more in-depth review of your case.
What Determines My Settlement Amount?
An experienced personal injury attorney will help you get the best settlement possible after an accident. This will let you move on with your life. The settlement amount you recover depends on several different factors. These factors include:
- The injuries you have suffered: If you have suffered catastrophic injuries, you could recover a higher settlement amount than other lawsuits where an injury has only caused a temporary injury. The severity of your injuries could determine the amount and compensation you could receive. If you have severe injuries, you will likely need future medical care. You will also need compensation for your past medical bills. For example, you may need hospital stay expenses covered or at-home medical assistance.
- Employment: If you were employed at the time of the accident and can’t return to work due to your injuries, you could recover a higher settlement. Those employed at the time of the accident could recover the lost income. If an injured has also suffered severe injuries, they could recover a future loss of earning capacity.
- Comparative fault: If the injured party was partly at fault, they might get a lower settlement. Florida has a modified comparative negligence law. It means injured people can recover compensation only if they are less than 51% at fault for the accident. If they were more than 50% responsible for causing the accident, the injured party cannot recover any damages. All parties’ liability is considered at the time of settlement.
- Property damage: Property damage is also considered when negotiating a settlement amount. For example, the injured party could recover repair or replacement compensation for the damage done to their vehicle.
These factors set the settlement amount for a personal injury lawsuit in Florida.
What Are Costs Paid After A Settlement?
When both parties agree upon a settlement, some costs must be paid out before the injured receives compensation. Some examples include:
- Medical liens: If an injured party has received medical treatment, they will most likely have to pay the medical providers for their treatments.
- Court costs: There are costs associated with filing a lawsuit, such as filing fees and deposition fees.
- Expert fees: In personal injury lawsuits, accident reconstruction experts or medical experts may provide their opinions on the compensation the injured party may need. These experts must then be reimbursed.
- Attorney costs: Attorneys could be paid hourly, upfront, or through a contingency fee. Our attorneys work on a contingency fee basis. We do not collect any fees upfront. We will deduct a portion from your settlement.
After these costs and fees are removed, you will receive the remainder.
Contact the Tampa Personal Injury Lawyers at Mincone Personal Injury Lawyers for Help Today
If you’ve been injured in an accident in Tampa, FL, contact our skilled personal injury lawyers at Mincone Personal Injury Lawyers to schedule a free case review.
You should be entitled to enough compensation to move on after the accident despite the cost breakdown. An experienced attorney will help maximize your compensation and get you justice
We proudly serve Hillsborough County and its surrounding areas:
Mincone Personal Injury Lawyers
1925 E 6th Ave Ste 10
Tampa, FL 33605
(813) 430-3338