Economic damages in a personal injury case are the quantifiable financial losses that you incur as a result of your injury. Examples of these include medical bills, property damage, and lost wages. You can claim them by filing a personal injury case with the help of a New Iberia personal injury lawyer.
These damages are intended to compensate you for the out-of-pocket expenses and financial setbacks you face due to the accident. Non-economic damages, the other major category of compensation, pay for intangible costs like pain and suffering.
Common Types of Economic Damages
Some of the most common types of economic damages in personal injury cases include:
- Medical Expenses: This includes all costs related to your medical treatment, such as hospital bills, doctor visits, prescription medications, medical equipment, and rehabilitation expenses. It’s important to keep detailed records of all your medical expenses, as these will be crucial in proving your economic damages.
- Future Medical Expenses: If your injuries require ongoing or future medical treatment, you may be entitled to compensation for these anticipated expenses. This may include costs for future surgeries, long-term care, or ongoing therapy. Your attorney may work with medical experts to estimate the cost of your future medical needs.
- Lost Wages: If your injuries have caused you to miss work or lose income, you may be able to recover these losses as part of your economic damages. This includes not only the wages you’ve already lost but also any future income you may lose due to your injuries.
- Loss of Earning Capacity: If your injuries have permanently impacted your ability to work or have forced you to take a lower-paying job, you may be entitled to compensation for the loss of your future earning capacity. This calculation takes into account factors such as your age, education, skills, and pre-injury earning potential.
- Property Damage: If any of your personal property, such as your vehicle, was damaged in the accident, you may be able to recover the cost of repairs or replacement as part of your economic damages.
- Out-of-Pocket Expenses: This category includes any other quantifiable expenses you’ve incurred due to your injury, such as transportation costs to medical appointments, home modifications to accommodate a disability, or the cost of hiring help for household tasks you can no longer perform.
Your personal injury attorney will thoroughly investigate your case to gather the evidence needed to prove your economic damages. They want to ensure that your damages are accurately calculated and fully accounted for in your claim.
Laborde Earles injury was great for me they took care of me very fast and professional. If for any reason I need legal help they will be who I use.
ClientProving Economic Damages
To recover economic damages in a personal injury case, you must provide evidence of your losses. This may include:
- Medical bills and records
- Pay stubs and tax returns
- Expert testimony from medical professionals or economic experts
- Receipts for out-of-pocket expenses
- Estimates for property damage repairs
A key difference between economic damages and non-economic damages is these pieces of proof of a tangible financial loss. Your personal injury attorney will help you gather and organize this evidence to build a strong case for your economic damages.
I thank God for Digger & David. I don’t know what we would have done if it hadn’t have been for them.
Rick Smith | ClientHow Much Could I Get From Economic Damages?
Every case is unique, so there is no average amount for any accident claim. Let’s take an example of paying for a car’s property damage. A car might get a little ding, or it might be completely totaled. A mechanic’s bill could prove what needs to be repaired and its value.
An insurer might claim the car is “totaled”, meaning that the cost of repairs is higher than the value of the vehicle. You might get offered the market value for the car, but that’s going to depend on the market and the make, model, and year of your car.
This is just one of many things that could become part of your economic damages. What you can be assured of is that your attorney will fight for the best possible compensation for you.
The reassurance from Digger and his staff gave me that renewed hope that it’s going to be okay down the road.
ClientThe Role of Your Personal Injury Attorney and Economic Damages
Your personal injury attorney plays a crucial role in ensuring that you receive full compensation for your economic damages. Here are some ways your attorney can help:
- Investigating Your Case: Your attorney will thoroughly investigate your case, gather evidence, and consult with experts to identify all potential sources of economic damages.
- Calculating Your Damages: Your attorney will work with financial experts and other professionals to accurately calculate the full extent of your economic damages, including future losses.
- Negotiating with Insurance Companies: Your attorney will handle all communications with the insurance companies involved and work to negotiate a fair settlement that fully compensates you for your economic damages.
- Representing You in Court: If a fair settlement cannot be reached, your attorney will be prepared to take your case to trial and present compelling evidence of your economic damages to the judge and jury.
At Laborde Earles Injury Lawyers, our attorneys have more than 250 combined years of experience fighting for the rights of personal injury victims. We understand the financial challenges our clients face after an injury, and we are committed to helping them recover the full compensation they deserve.
They treated us like no other people would. Whenever we needed something they were there for us. I put my trust in them and I don’t regret it.
ClientContact Laborde Earles Injury Lawyers Today
Economic damages in your personal injury case are a major portion of your compensation. You deserve to know how much you’re truly owed. If you’ve been injured due to someone else’s negligence, don’t hesitate to contact Laborde Earles Injury Lawyers for a free consultation.
