To file a claim for personal injury compensation, you must demonstrate losses. Whether you have been involved in a car accident or suffered another type of personal injury, you may be eligible to receive compensation from the liable party for your economic and non-economic losses.
If you are unsure of what type of losses you can file for, then it is important to speak to an attorney. The injury lawyers Fasig & Brooks can advise you on what is wise to do in your situation and whether or not you have a valid claim.
There are typically three types of compensation that a victim can receive from a personal injury case. They are economic, non-economic, and punitive damages. Speak to an attorney to understand what compensation you may be entitled to.
Economic Damages
Economic damages compensate victims for tangible financial losses related to a personal injury. Among the most common types of economic damages are:
- Medical expenses: Hospitalization, follow-up visits, and medications
- Lost wages: This also includes future lost earning potential
- Travel expenses: Cost for transportation to doctors’ appointments and other related travel
- Damaged property: mostly relevant in car accident cases where the victim’s vehicle or other personal items need to be repaired or replaced
Non-Economic Damages
Victims of personal injury accidents talk about the pain and physical suffering they have endured and how much the accident has affected every aspect of their life, causing psychological harm. From financial stress to new household burdens, an accident has intangible damages.
Non-economic damages are your non-financial losses, such as pain and suffering, emotional distress, and loss of enjoyment of life.
Punitive Damages
As the name suggests, punitive damages are meant to punish a defendant for their outrageously negligent or reckless behavior that led to the accident. They are also meant to deter the defendant and others from committing the same violation in the future. These damages are only awarded by a judge or jury, so do not expect punitive damages if you settle out of court.
Some states cap the amount of money that can be awarded in punitive damages in a personal injury case. In the state of Florida, punitive damages are capped at $500,000 or three times the amount of compensatory damages.
If you have any questions about whether you are eligible to receive punitive damages, then you should speak to an attorney.
Working With An Attorney
When you work with a reputable, personal injury attorney who has years of experience, you can find out the value of your claim, what rights you have, and what steps you need to take to get the compensation that you deserve.
You are more likely to get a fair and just settlement if you work with an attorney rather than taking the risk of representing yourself. You should contact an attorney to get started on your case and begin the legal process.
Veeramachineni Lalitha
I am Finance Content Writer. I write Personal Finance, banking, investment, and insurance related content for top clients including Kotak Mahindra Bank, Edelweiss, ICICI BANK and IDFC FIRST Bank. My experience details : Linkedin