Filing a personal injury claim in Laredo can result in financial compensation being granted for the various losses suffered as a result of someone else’s careless or wrongful acts. You may be eligible for not only economic damage reimbursement, but also compensation for your pain and suffering. Knowing how this type of loss is calculated can help you accurately evaluate your claim.
What Is Pain and Suffering?
There are two key types of compensatory damages in a personal injury case: economic and non-economic damages. Together, these financial awards are meant to make a plaintiff (injured accident victim) whole again. Economic damages refer to the specific monetary losses endured by the victim because of the incident, such as medical costs and lost wages.
Non-economic damages, on the other hand, refer to the intangible or invisible harm suffered by the plaintiff. These damages are also referred to as “pain and suffering,” and can include physical pain, emotional distress, mental suffering, anxiety, depression, post-traumatic stress disorder and loss of enjoyment of life.
Calculating Pain and Suffering in Texas
Economic damages are calculated using specific numbers. The victim can add up all related medical bills, payments and receipts associated with the accident and injury to determine economic damage value. However, pain and suffering does not come with hard numbers. This type of damage award is personal and depends on the severity of the injuries.
In Texas, the law recognizes that pain and suffering damages are subjective. The state does not require insurance companies or the courts to use any specific mathematical formula to calculate pain and suffering. Instead, the amount granted in noneconomic damages can be determined by the awarding party. With that said, there are two calculation methods that are commonly used as guidelines.
The Multiplier Method
This calculation method takes the victim’s total amount of economic damages and multiplies it by a number assigned based on the level of the victim’s pain and suffering (typically between 1.5 and 5). For example, if the plaintiff’s total economic damage award is $50,000 and a multiplier of 2 is used for moderate injuries, the pain and suffering calculation would come to $100,000.
The multiplier method is most commonly used in cases where a victim will likely experience long-term pain, suffering or disability due to serious injuries. It is important for the multiplier chosen to reflect the severity of the victim’s injuries and the continuing impact they will have on the victim’s life.
The Per Diem Method
The per diem method assigns a specific monetary value to a victim’s pain and suffering, then multiplies this by the number of days the plaintiff is likely to be impacted by the injury. The value assigned is often equivalent to the victim’s daily wage at work. This method is more commonly used to calculate pain and suffering in cases where there is a clear recovery date.
Is There a Cap on Pain and Suffering Damages in Texas?
Texas generally does not have a cap or maximum limit on the amount of pain and suffering that can be awarded in a personal injury claim. However, there is a noneconomic damage cap that applies to medical malpractice cases. This cap is $250,000 per defendant, with a maximum of $750,000 for multiple defendants.
Do not make the mistake of underestimating your pain and suffering during a personal injury case in Texas. Work closely with an experienced Laredo accident lawyer to understand the true value of this damage award. Contact Gonzalez Druker Law Firm for a free case consultation.