Types of Economic Damages in a Personal Injury Case

If you were harmed by the negligence of another person, you may have a personal injury case. For the case to be brought to court it should be based on negligence, intentional wrong, or strict liability. Damages can either be economical or non-economical. Economic damages are monetary compensation arising from an injury suffered during an accident.

You may recover compensation from the at-fault party. A lawyer can help you identify the liable party and build a strong case against them. Depending on your case, you may recover damages for:

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  • Past and future medical expenses
  • Loss of income
  • Property loss
  • Legal fees

Medical Expenses

If you are injured, the first step should be to seek medical attention. You need a professional consult to know the extent of your injuries and to get the treatment needed to recover. However, getting the medical care you need can be costly and can take a heavy toll on your finances. These expenses include:

  • Transportation to doctors’ appointments
  • Emergency response team
  • Medications
  • Physical therapy
  • Lab tests
  • Hospitalization

Seeking medical care and following a treatment plan can also be time-consuming. It is crucial to arm yourself with patience and seek social support during the recovery period.

Personal injury attorneys can help you document your health condition. Gather all the medical documents linked to the injuries you suffered in the accident. Having a paper trail will greatly benefit your case.

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Loss of Income and Benefits

You may claim loss of income in personal injury cases if you are unable to work due to your injury. These damages cover lost wages or lost unemployment benefits caused by the injury suffered. Loss of income helps cover the monetary income lost due to the injuries suffered by the victim.

For example, if you cannot work for two weeks as a result of a slip and fall accident, you sustain lost income for that period. Loss of income can also cover the following:

  • Bonuses
  • Sales commissions
  • Wages from work
  • Other benefits

Loss of Property

This is commonly claimed in automobile accidents. It can be the loss of a vehicle, clothes, phone, or any other property. You must quantify the value of the lost or damaged item to reach an agreement on how much compensation to claim.

The item lost can be valued at the repair cost if it is in a repairable state. It can also be valued at the full cost if it is beyond repair and you need to buy a replacement.

To strengthen your claim, document the accident site by taking photos and videos. You can use your phone to take a few quick shots while the scene is still fresh. Focus on the damaged objects and any property damage in the surrounding area.

Legal Fees

These are expenses incurred as a result of getting legal guidance after the accident. If you decide to take legal action, you must prove that the defendant’s negligence caused the accident.

Working with a lawyer will increase your chances to recover compensation. They can identify the liable party based on the available information and help you gather the evidence you need for a strong case.

Most lawyers work on a contingency fee basis. This means that you do not have to pay anything upfront. Your attorney will receive payment only if you win in the form of a percentage from your compensation or settlement amount. Personal injury lawyers typically have a contingency fee of 33% to 40%, but they can charge less or more depending on a variety of factors.

Contact a Lawyer for Help

Several factors should be considered when discussing compensation. These include the severity of the injury, the value of the damaged property, whether the injury caused a permanent disability, and the amount of insurance available.

An attorney can help you document the injuries and damage you suffered to recover compensation. Furthermore, you will benefit from expert legal guidance throughout the process. Therefore, do not hesitate to contact a lawyer as soon as possible after an accident.

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