Compensation is the amount paid to the injured party to restore them to their previous condition. The compensation amount is often the equivalent or more of the damages sustained by the injured party.
This amount is often paid by the liable party’s insurer or the individual liable party. If the liable party has no insurance and cannot pay, your own insurer may compensate you after an accident. Monetary compensation is the main remedy often sought by plaintiffs in civil cases.
Factors Affecting the Compensation Amount
The compensation amount one can receive in a claim or lawsuit will depend on their degree of fault. If you are partly at fault for an accident or incident resulting in injuries or property damage, you can still get compensated. But your percentage of fault will affect how much compensation you can receive.
For instance, if your percentage of fault is 55%, the compensation you receive will reduce by that percentage. The severity of injuries sustained is also a major factor in deciding the compensation you should receive.
Catastrophic injuries or injuries resulting in permanent impairment receive a higher compensation amount than minor injuries. Injuries affect the compensation amount because they influence the medical cost. Severe injuries will force you to incur higher medical expenses because of the duration of treatment.
You May File a Lawsuit If Your Settlement Offer Is Insufficient
The compensation amount should be equal or more to the property damage suffered. The insurance adjuster is in charge of calculating the value of property damage. If the liable party is refusing to settle your claim out of court, you can file a personal injury lawsuit.
Some common personal injury cases include:
- Boating accidents
- Car accidents
- Motorcycle accidents
- Product liability cases
- Medical malpractice
- Slip and fallaccident
Determining the exact amount of compensation you should receive can be difficult. The court may decide to award you more damages depending on the specific facts of the case.
Types of Compensation or Damages Available
Typical economic damages one may be compensated for include the following:
- Medical expenses
- Property damage
- Loss of income
- Diminished earnings
An injury victim may be awarded punitive damages and non-economic damages in addition to economic damages. Non-economic damages are compensatory, and they address intangible factors such as:
- Pain and suffering
- Psychological distress
- Loss of consortium
- Effect on quality of life
Securing Fair Compensation
The Bureau of Justice Statistics (BJS) found that plaintiffs win approximately 60% of all civil lawsuits. The success of civil lawsuits hinges on the availability of evidence showing that the defendant’s actions or inactions resulted in injury.
Taking your case to court can improve your chances of getting fair compensation. In many civil disputes, the liable party, through their insurer, will try to settle the matter out of court.
The at-fault party’s insurer may contact you after the accident and make a settlement offer. The insurer does this to minimize the amount of compensation you should receive.
A Lawyer’s Help Can Make a Difference
Hiring a lawyer may help you receive fair compensation as they have experience dealing with insurers. The absence of legal representation allows the liable party’s insurer an opportunity to negotiate a poor settlement. But a lawyer ensures that you receive a better compensation amount by negotiating with the insurance company. A car accident lawyer will also represent you in court and provide legal counsel which will be crucial in winning the lawsuit.
The second thing you can do to improve your chances of getting fair compensation is to gather pertinent evidence relating to the case. Personal injury cases based on negligence require a lot of evidence.
This is because the plaintiff must highlight how the defendant’s actions or inactions resulted in injury. For instance, file a police report or seek medical attention if you suffered injuries in an accident. Police and medical reports can act as proof that the accident occurred.
When the Liable Party Is Uninsured
The liable party may not have an insurance cover which makes it difficult or impossible for them to compensate you. If the liable party escapes, you will not be able to seek compensation from their insurer.
Florida law requires that all motorists have minimum personal injury protection and property damage liability amounting to $10,000 each. You also may have uninsured/underinsured motorist coverage.
Whether you do or don’t, if the liable party has no insurance or it is insufficient to meet your expenses, you can file a claim with your insurer.
The Insurer May Act in Bad Faith
The insurance company may not initially offer you fair compensation. They may try to prove that you are the negligent party or are partly at fault. This would reduce your compensation amount based on Florida’s comparative fault laws.
Connect with a Lawyer Today
If you are in a civil dispute or have sustained injuries or property damage, you should receive damages. The process of getting compensated can be difficult. This is because the liable party’s insurer will do everything to lower the amount. Call Chalik & Chalik Injury Lawyers for legal counsel at (855) 529-0269. We offer free, no-risk, no-obligation consultations.