In Texas, a personal injury settlement is typically calculated by considering two primary categories of damages: economic and non-economic damages.
Understanding how to determine the full value of your personal injury claim is critical to recovering the money you need after an accident. You do not have to do it alone. An experienced San Antonio personal injury attorney with Law Offices of Troy A Brookover can calculate all your losses and pursue the full compensation you are entitled to claim. Attorney Troy A. Brookover offers free case evaluations to discuss your injury and a possible personal injury claim.
Economic Damages
In personal injury claims, losses from a car accident or other incident that causes injuries are typically categorized as economic or non-economic losses.
Economic damages are the compensation accident victims seek for specific financial losses such as medical treatment costs arising from injuries and trauma. Economic losses are relatively easy to quantify. They can be calculated based on actual costs, such as medical bills or payroll records. Examples of economic losses for which your lawyer may help you seek compensation include:
- Medical expenses
- Future medical bills
- Lost income
- Future lost income and loss of earning capacity
- Funeral or burial expenses
- Property damage
Economic losses are relatively easy to calculate because a bill or invoice exists to show the specific cost to the injured party. If you are off work due to the accident, your pay stubs, income statements, and other financial records can be used to show how much income you lost as a result of your accident-related injuries.
As an experienced personal injury attorney, Troy A. Brookover will gather your medical bills, receipts for related expenses, and income statements and develop an estimate of your economic losses. These records will help demonstrate to the insurance company the financial losses you have had related to the accident.
Non-Economic Damages
Non-economic damages are losses that do not have a precise dollar value, including:
- Physical pain and suffering
- Physical disfigurement
- Emotional distress
- Loss of consortium, companionship, care, counsel, or assistance
- Other intangible losses related to the unique circumstances of the case
Non-economic losses are more difficult to calculate because they are not based on direct financial losses. As an experienced personal injury attorney, Troy Brookover brings an informed perspective to the task of determining the value of your non-economic damages. When handling your personal injury case, he will take the time to understand how the injuries have affected your life and future.
Other Factors Affecting Settlement
Besides the extent of your injuries and the pain and suffering you experience, many other factors can affect your potential personal injury settlement amount, including whether your actions contributed to the incident that led to your injuries and the limits of the insurance policies available to provide compensation:
- Comparative Negligence – Under Texas law, an injured person can recover money for their injuries and losses only if they are less than 51 percent at fault for the accident. This is known as the modified comparative fault rule. That means your monetary award will be reduced by the percentage of fault assigned to you by the court if the case goes to trial. For example, if the party that caused the accident was 100 percent at fault, then you are eligible to receive 100 percent of the damages awarded to you. If you are 50 percent at fault for the accident, the amount you receive would be reduced by 50 percent.
- Insurance Policy Limits – The amount of insurance coverage can affect the settlement offer made by the at-fault party’s insurer. For example, if you suffer injuries in a slip-and-fall accident on someone else’s property, the settlement value of your case may be limited by the insurance coverage available.
Texas requires auto insurance companies to offer Personal Injury Protection (PIP) insurance coverage when a registered car owner purchases insurance. PIP coverage pays for the policyholder’s medical expenses and lost wages, regardless of who is at fault for the accident. However, drivers can decline this coverage.
Because Texas is an at-fault state, you can pursue compensation from the driver responsible for the accident. The driver’s policy limits may affect the amount of money you receive. For example, if the driver carries an auto liability policy with minimum limits, such as a $30,000 per person/$60,000 per accident policy, that may not cover your losses if you have serious injuries. If you have Underinsured Motorist coverage, that may be triggered to offer you the additional money you need after a serious accident.
At Law Offices of Troy A. Brookover, we understand that calculating your losses and determining what amount you might need to cover all your accident-related expenses and losses can be confusing.
San Antonio personal injury attorney Troy Brookover can guide you through the legal process each step of the way. He will calculate the full extent of your losses, assess the liability of all potentially responsible parties, and demand maximum compensation for you.
The Multiplier Method
Non-economic damages are challenging to calculate because there are no bills or invoices to add together. Insurance companies and attorneys have developed certain methods to determine an accident victim’s losses.
The multiplier method entails multiplying the total economic losses by a specific number, usually between 1.5 and 5. The multiplier is based on the severity of the victim’s injuries, the accident’s impact on their daily life, and the recovery period, among other factors. For example, if you have $100,000 in economic losses and your lawyer uses a multiplier of 3, your attorney will seek non-economic damages of $300,000.
Get Legal Help from an Experienced Personal Injury Lawyer in San Antonio
Did you suffer injuries in an accident that was someone else’s fault? Troy A. Brookover, a Texas attorney with more than 30 years of experience, is here to help. Law Offices of Troy A. Brookover has helped many clients seek fair compensation after serious accidents.
Past results do not guarantee future outcomes, but they do show the law firm’s experience handling personal injury cases. Law Offices of Troy A. Brookover has obtained six- and seven-figure awards for our clients. Troy Brookover will work hard to settle your case out of court, but will not hesitate to file a lawsuit and take the case to trial if that is in your best interest. Contact our law firm today for a free consultation.
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