One of the first questions that may come to mind after you decide to pursue a personal injury lawsuit is “how much compensation am I eligible for?”
The answer to this question is anything but cut-and-dry. However, depending on the types of damages you are seeking, the state of Florida has enacted damage caps for the amount of compensation you may be eligible for.
Compensatory damages are the compensation dollars that are used to cover direct, monetized losses from an accident. This means this compensation will cover medical expenses, property damages, mental care and more.
Florida doesn’t enact a cap on these sorts of damages; however, it’s important to diligently document these expenses as you visit doctors and understand the breadth of your losses.
Non-economic damages include funds used to cover pain and suffering, loss of quality of life, loss of companionship and other areas that don’t necessarily have a definite price tag attached.
As of 2017, the state of Florida doesn’t have a cap enacted for these sorts of damages either. This is because the courts argued that caps for these types of damages unfairly kept funds from victims of the worst sorts of losses.
3x compensatory damages
Unlike the other types of damages we’ve discussed, punitive damages are not awarded in order to compensate a victim; they are put into place in order to punish the individual or entity responsible.
It’s rare that punitive damages are even sought at all in a personal injury case, and these cases are usually the result of extreme negligence. The damage cap for punitive damages currently sits at three times the amount of awarded compensatory damages in Florida; however, this rule is more of a guideline rather than a hard-pressing law.
Have you been injured in an accident in Florida? Tampa’s attorneys at Lorenzo & Lorenzo are prepared to help you understand your options and seek the types of compensation you are entitled to. Contact us today for a free consultation.