The specifics of the accident will impact how much money you can recover from a vehicle accident settlement. The degree of your injuries is the most important aspect in determining the settlement amount after a car accident. The following aspects may affect your car settlement amount in Florida.

No fault insurance policy

You should be aware of Florida’s no-fault statute when filing an auto accident claim. Regardless of who was at fault for the collision, the no-fault insurance legislation mandates that any wounded accident participants file a claim with their respective auto insurance companies first.

The no-fault legislation in Florida bans accident victims from suing at-fault drivers for fees related to small losses. The no-fault system has eligibility restrictions, and filing an auto liability claim against the at-fault party must be done independently.

These conditions for eligibility must be met:

  • Long-term harm
  • Severe or persistent scarring
  • Serious or long-term deformity
  • Loss of bodily function as a result of serious injury

Seeking the advice of a skilled Spring Hill car accident lawyer before starting the process of claiming the compensation you need following an accident is advisable.

Personal Injury Protection Coverage (PIP)

Florida mandates that an automobile insurance policy include Personal Injury Protection (PIP) with a minimum of $10,000 in coverage. PIP is a crucial insurance policy that will assist in paying for the initial expenses incurred due to an auto accident without waiting for compensation from the person or entity at fault. Your PIP policy entitles you to the following benefits in the event of a car accident:

  • Around 80% of medical expenses
  • Reimbursement for medical visitation travel expenses
  • Approximately 60% of lost wages
  • Death benefits of $5,000

PIP is beneficial after an accident. However, there are some restrictions. 

  • Benefit caps: Unless there is an emergency medical condition, PIP payouts are limited to $2,500. PIP will probably not cover all severe medical treatment or long-term medical care costs.
  • Medical treatment durations: After an accident, you have 14 days to get medical care to pay for the associated medical expenses. Your PIP benefits will not cover medical care received after the initial 14-day window.
  • Not all damages are covered: PIP covers any losses associated with pain and suffering, but it does not cover any damages relating to your motor accident. Similar expenses that fall outside your PIP’s coverage may be recouped by submitting a third-party claim with a seasoned auto accident lawyer.

Damages cap set by law

There are damage ceilings or legal limits on how much money you may get compensated for in a vehicle accident claim for damages brought on by an accident. Punitive damages are the most frequent damage cap in an automobile accident lawsuit. 

Damages awarded to penalize or deter the at-fault driver’s risky behavior are known as punitive damages. The maximum amount of punitive damages in Florida is $500,000 or three times the amount of compensatory damages (such as medical costs and lost earnings), whichever is greater.

The takeaway

Having a car accident lawyer on your side is crucial to maximize compensation eligibility and lessen financial and personal stress.

By Swati