Have you been injured in a car accident in Tampa, FL? If so, you may be able to recover compensation for your medical bills and other damages.

You can pursue compensation by filing a claim to collect from your own insurance. Florida is currently a no-fault state. That means your PIP insurer is responsible for compensating you, even if someone else caused your accident.

You may also be able to recover compensation from the insurance of the driver who caused your accident. This is an option if your injuries and losses are serious enough under Florida law.

The amount of money you may recover when filing a claim can vary depending on a range of factors. Some claimants collect a few thousand dollars. Others recover millions.

Factors influencing how much a car accident victim may settle for in Florida include:

Factor 1: Insurance Coverage

Your insurance policy’s coverage limits will play a significant role in your settlement. Naturally, the more coverage your policy offers, the more money you may potentially recover. Just remember that you might be able to recover additional compensation from a negligent party’s insurer if your insurance doesn’t offer all the compensation you need. An attorney can help you determine if pursuing additional compensation is an option.

Factor 2: Medical Bills

The compensation you recover after a car accident in Florida is generally meant to compensate you for financial losses resulting from your injuries. These usually consist of medical bills. Your settlement may compensate you for past, current, and future medical expenses. 

Factor 3: Lost Wages

Sometimes, injuries resulting from a car accident are severe enough to prevent a victim from working. If you are unable to earn an income due to car accident injuries, your lost wages can contribute to how much you may settle for.

Factor 4: Non-Economic Losses

You may also pursue compensation for losses that do not have a financial value, also known as non-economic damages. For instance, if a car accident causes you to develop PTSD, you could account for this when determining how much compensation you wish to pursue. You may also seek compensation for the physical pain you might have to endure after an accident.

Factor 5: Property Damage

A car accident won’t merely result in harm to your body. It will also usually result in property damage. This is another factor that may contribute to the value of a claim.

Factor 6: Miscellaneous Expenses

Your medical bills and lost wages are the primary financial losses that impact your settlement. However, other economic damages may also influence your claim’s value. For example, the cost of traveling to medical appointments can potentially be factored into your settlement. Likewise, the cost of renting a vehicle while yours is in the shop can be added to the sum.

Factor 7: What You Negotiate For

Insurance companies are profit-driven businesses. Even your own insurer is not necessarily inclined to offer full compensation for your damages and losses.

It is often necessary to negotiate with insurance companies for an appropriate settlement. This is easier to do if you have representation from a qualified Tampa car accident lawyer.

Factor 8: Your Role in the Accident

If you are seeking additional compensation from a negligent party’s insurance, your share of blame for the accident may be factored into your settlement. Florida’s comparative fault rules will reduce your damages to account for your share of fault. For example, if you were 20% at fault, an insurer may only offer you 80% of your damages.

Factor 9: How Patient You Are

Car accident victims are often eager for an immediate payout when filing claims. This is understandable.

That said, a victim is often more likely to recover more compensation if they are willing to be patient. If you hire an attorney and trust them to handle your case properly, your patience is likely to be rewarded.

For more information, call us at (813) 222-8545 or reach out to us via email by visiting our contact us page.