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Clarissa Fernandez Pratt
Clarissa Fernandez Pratt

What are economic damages?

On Behalf of | Jun 23, 2023 | Personal Injury |

In a personal injury case, economic damages refer to the financial losses incurred by the injured party as a result of the accident or incident. These damages are quantifiable and can be supported by documentation and evidence. Here are some common types of economic damages in a personal injury case:

Medical Expenses: This includes the costs associated with medical treatment, such as ambulance fees, hospital bills, surgical procedures, prescription medications, rehabilitation, physical therapy, and any other necessary medical services.

Lost Wages: If the injury has caused you to miss work, you may be entitled to compensation for the wages or salary you would have earned during the time you were unable to work. This can include not only the immediate time off but also any potential future income losses if the injury has a long-term impact on your ability to work.

Property Damage: If your personal property, such as a vehicle, was damaged in the incident, you can seek compensation for the costs of repairs or replacement.

Loss of Earning Capacity: In cases where the injury has permanently affected your ability to earn income or has diminished your future earning potential, you may be entitled to compensation for the loss of earning capacity. This takes into account the potential income you would have earned in the future had the injury not occurred.

Rehabilitation and Assistive Devices: If your injury requires long-term rehabilitation or the use of assistive devices like wheelchairs, crutches, or prosthetics, you can seek compensation for the expenses associated with these items.

Home Modifications and Accommodations: If the injury has resulted in a need for modifications to your home or vehicle to accommodate your disability, you may be entitled to compensation for the costs of making those modifications.

Other Financial Losses: Depending on the circumstances of the case, there may be additional economic damages that can be claimed. These may include transportation costs for medical appointments, home care expenses, and any other reasonable expenses incurred as a result of the injury.

To recover economic damages, it is crucial to keep detailed records of all relevant expenses, bills, receipts, and other supporting documentation. Working with a personal injury attorney can help ensure that you accurately calculate and present your economic damages as part of your claim, increasing your chances of receiving fair compensation for your losses.