When you've been injured because someone else was negligent, you'll want to file a personal injury lawsuit to get compensation. But how much can you get from your settlement?
That's one of the most commonly asked questions during consultations, according to Meyers Injury Law in Nashville, TN. However, it's a question that often has a vague answer. The reason is that every personal injury case is unique and will have its own set of factors that will be used to determine the amount of compensation.
What Types of Damages Could I Receive in My Personal Injury Settlement?
In all personal injury cases, damages for the injury victim must be calculated before determining a settlement amount.
Economic Damages
Economic damages are among the easiest types of damages to calculate since they have a specific dollar amount attached to them. Economic damages include your past and future medical expenses, lost wages, loss of future earning capacity, and property damage, to name a few. Your attorney can tally these up to determine the amount of your economic damages.
Non-Economic Damages
It is much harder to calculate non-economic damages such as mental anguish, loss of enjoyment of life, and pain and suffering. Your personal injury lawyer will need to look at all contributing factors to your injuries to help determine the amount of your intangible losses.
This is precisely why you should work with a lawyer. Without one, you may accept a settlement that doesn't adequately cover all the damages from your injuries.
In some cases, you may hear about punitive damages, which are intended to punish the defendant for malicious acts. Some states do not award additional compensation for punitive damages, though Tennessee does, capping it at two times the total amount of damages awarded or $500,000, whichever amount is greater.
Other Factors That Could Impact Your Personal Injury Settlement
Even if you are granted all the damages listed above, it's important to note that Tennessee caps non-economic damages at $750,000. The cap is at $1 million for a catastrophic incident, such as one involving an amputation or other permanent damage.
Additionally, Tennessee is a modified comparative negligence state, meaning that you and the defendant may both share some responsibility. The damages are calculated based on a percentage of fault. For example, if the defendant was 80% at fault and you were 20% responsible, your compensation would be reduced by 20%. If you are over 49% negligent, you get nothing.
One of the biggest mistakes personal injury victims make is to try to handle things themselves. These cases can become very complex, and it takes intricate knowledge of the law to ensure you're being given a fair settlement. By working with an attorney, you can prevent taking the blame for an accident that wasn't your fault and maximize your chances of having maximum compensation awarded in your case.
