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Regaining Financial Stability & Economic Recovery After Accident

Regaining Financial Stability & Economic Recovery After Accident

Depending on the severity of a car crash, motorcycle accident, brain trauma, or even wrongful death, certain victims or their families may qualify for extra compensation. This extra compensation is Economic Recovery.

Economic Recovery is a term unfamiliar to most Miami accident victims. After sustaining injuries due to an accident, it’s important to seek expert legal advice as quickly as reasonably possible. This means, once a victim stabilizes on the medical side, the next step is consultation with a top Florida Personal Injury law firm.

Depending on the severity of a car crash, motorcycle accident, brain trauma, or even wrongful death, certain victims or their families may qualify for extra compensation. This extra compensation is Economic Recovery. The term implies restoring a level of financial stability to people suffering monetarily as a result of accidents with permanent injuries. Consulting an expert Miami Dade lawyer with Board Certification can mean the difference between recovering total compensation and the bare minimum.

What can Economic Recovery do for people suffering chronic pain after accident?

Economic Recovery is a complex, but necessary aspect of all Personal Injury cases with debilitating injuries. Some accidents pose less of a threat to life, and some put victims at risk of chronic pain, and even death. Injuries that can wreak havoc on the financial stability of a victim include brain trauma, paralysis, stroke due to misdiagnosis, and amputations.

This article explains different types of Economic Recovery available to those who suffer chronic, permanent injuries for which they’re not at-fault. We also discuss how a Broward Personal Injury lawyer obtains fair compensation their clients. When it comes to compensation, there needs to be substantial proof of what the accident is “worth”. In cases where injuries are severe, trial may be the best option for Economic Recovery. This is because during trial, compensation as well as damages will be determinable by a judge.

Learn more: Your Case Didn’t Settle in Mediation, What Happens Now?

The best Florida lawyers with years of experience can explain all the routes to compensation available after an accident. Sometimes, alternatives such as Mediation are available before a case goes to trial. Mediation often has a successful outcome, where the insurance company offers a favorable settlement. When a settlement offer is continually not enough, however, the injury claim goes to trial. The best accident lawyers never fear going to trial, and will get “in the trenches” for the client’s well-being.

What happens during a Florida accident claim in which my lawyer is pursuing Economic Recovery?

When a Florida accident claim begins, if injuries are permanent and physical pain and suffering is present, the pursuit of Economic Recovery becomes a priority in the case. Economic Recovery differs slightly from simply pursuing compensation after an auto accident in which the victim can recover and move on with their life, at some point. Economic Recovery takes into consideration the permanence of the injuries resulting from certain accidents.

When awarding damages, there are three separate factors: physical injury, mental anguish, and financial loss.

Economic Recovery factors prominently into the latter. Financial loss occurs when injuries are permanent and a victim can no longer pursue their career, thus become unable to make a livable wage. However, each factor in these cases is a puzzle piece and all three make up a full picture.

First, a judge considers the victim’s physical injuries. Most of the time, injuries cases pursuing Economic Recovery are visible. A person may be using a wheelchair, have a prosthetic arm or leg, or require other assistive devices such as a walker or a cane. Next, the court considers cost of care as per a Life Care Plan. This means looking at the financials of the person’s lifetime care per the Plan. A Life Care Plan is a set plan that coordinates attorneys and doctors in determining the best lifetime care for a patient with severe disabilities. Last, who pays for such care? Insurance only covers injuries to an extent. Those who sustain permanent injuries often max out coverage quickly after an accident. This is the case in amputations, TBI, and spine injuries. All of these things factor into the pursuit of Economic Recovery.

How does my pain and suffering factor into successful Economic Recovery and regaining financial stability?

Personal Injury lawyers refer to “pain and suffering” frequently. However, the term is an umbrella term for many facets of a client’s injury.

Pain and suffering refers to everything from physical injuries to mental anguish. Auto accident broken bones, workplace concussions, brain injuries, negligent security related PTSD, depression after amputation, and grief due to the wrongful death of a family member are some aspects of pain and suffering.

During trial, the court places monetary value on how much pain a victim is in. While this explanation seems cold and unfair, it’s the Personal Injury lawyer’s job to ensure the insurance company sees a human being suffering from injuries, not just numbers. The insurance company will accuse a victim of lying (this is unfair and hurts the client). The insurance company may go as far as saying the client with visible injuries is “fine” when in reality, they’re suffering every day.

This is why it’s important to remain CREDIBLE. It’s the lawyer’s job to force the insurance company to stop playing games and offer fair compensation. Thus, it’s important to never lie to your lawyer. Top lawyers are simply unable to help clients who lie or exaggerate, as the insurance company has ways of reading “the book of the client’s life” and this can severely hurt or even kill the case.

The process of determining damages has multiple steps

  • What is the extent of a person’s injuries? Are both physical and mental injuries present as a result of a car crash, brain trauma, motorcycle accident, or wrongful death? Mental anguish goes hand in hand with physical pain and suffering.
  • The determination of future, as well as permanent, pain and suffering. Certain accidents cause lifelong suffering. Workplace accidents with amputations, misdiagnosis resulting in stroke, and paralysis all affect victims for life.

Is there a link between mental anguish and Economic Recovery?

Finally, the court takes mental anguish into consideration. Mental anguish causes as much pain as physical injury. It’s a form of PTSD which encompasses multiple and widely varying symptoms unique to each person. However, there are several symptoms that nearly every person will experience if they’re suffering due to mental anguish. These symptoms include: fear, nightmares, flashbacks, feelings of lost dignity if requiring care due to paralysis or amputation, anxiety, and isolation.

What determines loss of quality of life?

After an accident, many physical injuries heal. However, mental anguish remains. Even if physical health returns, quality of life still suffers. PTSD is a very real, concerning cause of lifelong distress after accident.

Inability to cope with trauma can leave victims unable to work. More so, unable to participate in life at all. This means losing time with family and friends. They may have little interest in hobbies. Isolation, depression, and at times suicide occurs. In cases of CRPS, the suicide rate is high.

Compensation in cases of trauma must include consideration for lifelong therapy and its increasing costs. Receiving therapy in Miami is extremely expensive, but it can help victims return to a better, healthier life on the mental side, thus should never be scrapped due to financial constraint.

How does Economic Recovery improve quality of life?

Personal Injury clients often need a level of care after an accident with injuries. After TBI, recovery is a long process on the medical side. Sometimes, as with paralysis, injury is permanent. As a result of permanent injury, victims need lifetime assistance with Activities of Daily Living (ADL). ADLs include bathing, dressing, eating, caring for the home, and running errands. Things a person does prior to an accident may be limited, or completely impossible, after an accident.

In conclusion, all of these factors make up the puzzle of a successful case. But, finally, what is a “successful” case? When victims suffer permanent injury, there is no “perfect” outcome. However, maximum compensation restores a level of stability. This means stress of bills, further medical expenses, and lost wages achieves a level of relief.

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