Bodily injuries like sprains, broken bones, and brain injuries cost money to treat. Injured victims might also be forced to miss work while they recover, causing additional economic distress. Helpfully, injured victims can receive compensation to cover these economic losses.
But not all losses are easily measured in dollars and cents. Bodily injuries also cause considerable pain and suffering, which can dramatically erode your quality of life. Luckily, Florida law allows victims to receive compensation to make up for pain and suffering, but how much is it worth?
The Multiplier Method
One method many attorneys use to estimate pain and suffering compensation is to take your economic losses and multiply them by 1.5-5. For example, if you incurred $10,000 in medical care and lost $2,000 in wages, you might receive $18,000-$60,000 in pain and suffering.
The more permanent or devastating your injuries, the higher the multiplier. For example, sprains and broken bones that can heal within a couple months might only warrant a multiplier of 2. But spinal cord injuries or a concussion could warrant a higher multiplier if the injuries are permanent.
Though the multiplier is helpful for coming up with a rough estimate, you should still discuss your case with an experienced Miami personal injury attorney. So many factors go into pain and suffering compensation that you need an individualized case assessment.
The Daily Rate Method (“Per Diem”)
Another formula some lawyers use is the “per diem” method. Basically, you assign a daily value to your pain, such as $150. Then you multiply the rate by the number of days you are suffering from the injury. So, if your sprain took 2 weeks for you to recover, your pain and suffering might be $2,100 ($150 x 14).
How do you come up with the daily rate? One option is to use how much you make at work. If you make $200 a day, then this can serve as your per diem rate.
As with the multiplier method, this formula gives you a rough idea of how much you might receive. If you suffer agonizing nerve pain, for example, your per diem rate might be very high—much higher than what you make at work.
Receive the Compensation You Deserve
Bodily injuries reduce our clients’ quality of life, and for that reason they deserve compensation. For more information about bringing a lawsuit or negotiating a favorable settlement, reach out to Dolan Dobrinsky Rosenblum today.
One of our Miami personal injury lawyers will meet with you to discuss your case. You can call 305-371-2692 to schedule a free case evaluation.