How Is a Bicycle Accident Settlement Calculated?

A bicycle accident settlement is calculated by assessing the extent of your injuries and losses. Several factors influence the potential amount, including the severity of your injuries, the cost of medical care, and the impact on your ability to work or participate in daily activities. 

Pain and suffering, emotional distress, and any long-term effects of the accident are also considered. Each case is unique and requires a detailed evaluation of how the accident has affected your life. 

A Fort Lauderdale bicycle accident lawyer can explain more about how a bicycle accident settlement is calculated, helping you understand the factors that contribute to your potential compensation.

Common Factors That Affect Bicycle Accident Settlements

A Fort Lauderdale personal injury lawyer evaluates several key factors when determining the value of a bicycle accident settlement. Each case is unique, but the following elements commonly influence the potential compensation:

• Severity of injuries: The extent and nature of your injuries play a major role in determining the settlement amount. More severe injuries, such as broken bones, spinal damage, or traumatic brain injuries, typically result in higher compensation due to their long-term effects on your health, lifestyle, and ability to work.
• Medical expenses: Both current and future medical costs are considered when calculating a settlement. This includes emergency care, surgeries, physical therapy, medications, and any anticipated ongoing treatment. Accurate documentation of medical expenses is crucial to ensure fair compensation.
• Lost wages and reduced earning capacity: If your injuries prevent you from working temporarily or permanently, the settlement may include compensation for lost income. Additionally, if your earning capacity is reduced due to a disability or long-term limitations, this factor is also accounted for in the settlement.
• Pain and suffering: Non-economic damages, such as physical pain, emotional distress, and loss of enjoyment of life, are evaluated to determine the impact the accident has had on your overall well-being. These damages are subjective but can significantly influence the total settlement.
• Property damage: The cost to repair or replace your damaged bicycle and any other personal belongings, such as helmets or gear, is also included in the settlement. 

By assessing these factors, a fair settlement can be pursued to address the physical, emotional, and financial challenges caused by a bicycle accident.

How a Lawyer Can Help Calculate Your Settlement Under Florida’s No-Fault Laws

Florida’s no-fault insurance system requires injured bicyclists to first seek compensation through PIP (Personal Injury Protection) coverage. If you own a vehicle, your auto insurance policy will include PIP. 

If you don’t, PIP coverage could still apply through a household member’s policy, such as a spouse, parent, or other relative you live with. If no household PIP is available, you may be able to file a claim against the at-fault driver’s insurance.

Under these Florida insurance requirements, determining whether you can pursue a settlement beyond your PIP coverage can be complicated. 

A lawyer can evaluate your case and help calculate a settlement that accurately reflects your losses.

Assessing Eligibility Beyond PIP

Under Florida Statutes § 627.737, accident victims can file a personal injury lawsuit if they have sustained a serious or permanent injury, such as:

• Permanent loss of a significant bodily function
• Permanent injury or disability
• Significant disfigurement or scarring
• Death

A lawyer reviews your medical records and other evidence to determine if your injuries meet these legal thresholds.

Calculating Total Damages

While PIP insurance covers up to $10,000 for medical expenses and lost wages, it does not account for non-economic damages like pain and suffering. A lawyer evaluates all aspects of your losses, including:

• Current and future medical bills
• Lost income and diminished earning capacity
• Emotional distress and physical pain

Working With Experts

Lawyers often consult medical professionals, accident reconstruction specialists, and economists to accurately calculate the full scope of your injuries and losses. This ensures that your settlement reflects both immediate and long-term impacts.

Negotiating With Insurance Companies

Many insurers aim to minimize payouts. A lawyer can advocate on your behalf, negotiating a settlement that goes beyond the limits of PIP coverage when your injuries qualify.

With legal guidance, you can better understand your rights under Florida’s no-fault laws and pursue the compensation you need for a full recovery.

How Florida’s Negligence Laws Can Affect Your Bicycle Accident Settlement

Florida’s modified comparative negligence law can significantly impact the compensation you receive after a bicycle accident. Under this system, your settlement is reduced by your percentage of fault for the accident, and you can only recover damages if you are 50% or less at fault.

For example, if your total damages are $50,000 but you are found 20% at fault, your settlement is reduced by 20%, leaving you with $40,000. However, if you are found more than 50% at fault, you are barred from recovering any compensation.

How Fault Is Determined

The fault in a bicycle accident depends on factors such as:

• Whether the motorist or cyclist violated traffic laws.
• Whether the cyclist was following the rules of the road (e.g., riding in a bike lane).
• External factors like road conditions, signage, or visibility.

Insurance companies often try to assign greater fault to cyclists to reduce payouts.

How a Lawyer Can Help
A lawyer can work to minimize your percentage of fault by:

• Investigating the accident and gathering evidence such as photos, videos, and witness statements.
• Consulting experts to reconstruct the accident or clarify traffic laws.
• Challenging attempts by insurance companies to unfairly assign fault.

By reducing your fault percentage, a lawyer can help you secure the compensation you deserve under Florida’s modified comparative negligence rules.

Our Lawyers Can Calculate Your Bicycle Settlement

At The Schiller Kessler Group, we have over three decades of experience helping accident victims pursue fair compensation for their injuries and losses. We can explain more about how a bicycle accident settlement is calculated during a free consultation. 

Our team can evaluate your case, gather the necessary evidence, and advocate on your behalf to seek the compensation you deserve. Contact The Schiller Kessler Group today to schedule your free consultation and learn more about your legal options.