How Much Is My Austin Personal Injury Case Worth?
How much a personal injury case is worth is a common question our Austin personal injury lawyers answer. When another person causes you harm, it is customary to want to know how much you can receive for your damages.
Numerous factors impact how much your personal injury case is worth. Our Austin personal injury attorneys at FVF Law begin by evaluating the monetary losses you incurred because of the at-fault party’s conduct.
Injured parties are entitled to reimbursement for their economic damages. These damages include the past, present, and future monetary losses and expenses related to the accident and your injury.
Examples of economic damages include, but are not limited to:
The value of economic damages is the actual monetary loss. However, damages for ongoing medical, nursing, and personal care must be estimated. Likewise, we must estimate the loss of income because of a permanent impairment.
Medical specialists, vocational experts, financial professionals, life care planners, economists, and other expert witnesses can assist in valuing future damages. The cost of a permanent impairment can total millions of dollars over a person’s lifetime.
In addition to reimbursement for financial losses, Texas personal injury laws allow for compensation of non-economic damages. These damages are less tangible but are just as real as financial losses. Non-economic damages compensate you for the pain and suffering you experienced because of an accident or personal injury.
Examples of non-economic damages are:
Texas does not have a standard formula for calculating the value of pain and suffering damages. However, the multiplier method is a common formula used to place a price on pain and suffering.
A multiplier between 1.5 and five is assigned to the case based on the severity of the person’s injuries and other factors. Then, you multiply the number by the total economic damages to calculate the value of non-economic damages.
Adding non-economic and economic damages together gives you the total amount of compensatory damages. A person might be entitled to non-compensatory damages in a small number of cases.
Punitive damages do not compensate you for any losses. Instead, the damages are awarded based on the at-fault party’s behavior. You receive the money when a jury enters an award for punitive damages.
Only a small number of personal injury cases qualify for punitive damages. You must prove that the at-fault party’s conduct rose to the level of “fraud, malice, or gross negligence.” The burden of proof to obtain an award for punitive damages is harder to reach.
Our legal team carefully reviews your case to determine if the facts support a demand for punitive damages. If so, we factor that information into settlement negotiations and trial preparation.
The facts and circumstances of your accident and injury impact how much you could receive for a personal injury claim. Some factors increase the value of a claim, including:
However, other factors could decrease the value of a personal injury claim. For example, if you are partially to blame for causing your injury, your compensation could be reduced.
The contributory fault law in Texas reduces your compensation for a personal injury claim by your percentage of fault. If you are 30% at fault, you could receive 60% of your damages.
However, the statute places a 50% bar on recovery. Therefore, you receive nothing for your claim if you are 51% at fault.
An insurance company uses various tactics to undervalue damages. The statements you make to an insurance adjuster could be used to allege fault for causing your injury. Delays in medical treatment are used to allege the accident did not cause your injury or that you made your injury worse by failing to seek prompt medical care.
Many personal injury cases in Austin, TX, have a two-year deadline for filing lawsuits. The statute of limitations begins on the date of the accident or injury. However, exceptions to the statute of limitations can sometimes alter the deadline.
If you do not file a personal injury lawsuit before the deadline, a judge may dismiss your lawsuit. Therefore, it is wise to seek legal advice as soon as possible after an accident. Some personal injury cases could have a shorter or longer deadline to file a claim.
The steps you take after an injury or accident also impact how much your case is worth. Therefore, always seek immediate medical treatment for your injuries. You must prove the accident caused your injuries, so you need medical records to link the accident to your injuries.
Avoid talking with insurance adjusters until you receive legal advice about your case. The adjuster’s job is to protect the insurance company from liability. Do not consent to discussions on a recorded telephone line.
You should also avoid discussing your accident and injury online. It is wise to stop using social media and prohibit people from tagging you in photos and posts. Insurance companies search online content for evidence your injuries are not as severe as you claim.
Additionally, follow your doctor’s treatment plan. If you disagree with the treatment plan, seek a second opinion promptly. The insurance company could allege you caused your injuries and damages to worsen because you failed to receive medical care and follow your doctor’s instructions.
Our legal team works with you to help you take steps to strengthen your case. We also handle all matters related to the insurance claim, so you do not need to worry about dealing with insurance investigators, claims representatives, and adjusters.
You can recover compensation for the injuries and damages caused by another party’s negligence or wrongdoing. Our legal team at FVF Law diligently pursues each party responsible for your injuries to recover maximum compensation for your case. Call now for a free case evaluation with an experienced Austin personal injury attorney.
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