Personal InjuryUnderstanding the Economic Damages in a Personal Injury Claim

May 17, 20230

Personal injury claims can be complex, and understanding the types of damages that can be recovered is essential. Economic damages are often one of the most significant types of damages that can be awarded in a personal injury case. They refer to the financial losses that a victim has suffered as a result of their injury. In this post, we’ll explore the different types of economic damages that you may be able to recover with the help of a personal injury attorney.

Medical Expenses

Medical expenses are the most common type of economic damages in a personal injury claim. If you have been injured through no fault of your own, you are entitled to recover the full cost of any medical treatment that you have received or are set to receive in the future as a result of your injury. This includes all medical expenses, such as doctor visits, hospital bills, physical therapy, surgery, and prescription medication.

Lost Wages

Another common type of economic damages to be recovered in personal injury claims is lost wages. If you are injured, you may need to take time off work to recover – and you can claim back the wages that you would have earned if you were not injured. This includes any wages that you have already lost through time off work due to the injury, and any wages you may lose due to future time off you will need to take. In some cases, if the injury has caused long-term or permanent disability that prevents you from working at your previous level of employment, lost earning capacity may also be considered.

Property Damage

If the accident that caused your injury also damaged your property, you can also claim to recover the cost of repairing or replacing it. For example, if you were injured in a car accident and your vehicle was damaged or destroyed as a result, you can recover the cost of repairing it or purchasing a replacement.

Other Economic Damages

There are several other types of economic damages that you may be able to recover in a personal injury claim, depending on the specific circumstances of the case. These include:

  • Loss of business income: If you are a business owner and your injury has caused you to lose income, you may be able to recover these losses.
  • Loss of household services: If your injury has resulted in you being unable to perform the household tasks you normally would, such as cleaning, cooking, or yard work, you may be able to recover the cost of paying somebody to perform those tasks for you.
  • Cost of transportation: If you have been unable to drive yourself to places or drive your family to places because of the injury, you may be able to claim back the cost of alternative transportation such as public transport or taxi fares.
  • Cost of modifications to your home: If you require modifications to your home due to the injury, such as a wheelchair ramp or bathroom modifications, you may be able to include these costs in your claim.

How Economic Damages are Calculated

Calculating economic damages in a personal injury claim can be a complicated process, and it’s important to work with an experienced personal injury attorney who can help you ensure that you receive full compensation for your losses. To calculate economic damages, your attorney will gather evidence of your financial losses, such as medical bills, pay checks, and repair estimates. They will then use this evidence to calculate the total amount of economic damages you are entitled to recover.

It’s important to be aware that economic damages are just one type of damages that you can recover in a personal injury claim. You may also be able to recover non-economic damages, such emotional distress, depending on the unique circumstances of the case.

What You Can Do to Maximize Your Claim

If you are going through the process of claiming for economic damages in a personal injury claim, one of the most important things to do is keep evidence of your costs. Bear in mind that almost any expense related to your injury, from medical bills to the cost of getting the bus or train if you have been unable to drive, may be recoverable. Keep receipts and records to strengthen your case and increase your chance of getting maximum compensation.

If you or a loved one has been injured due to somebody else’s negligence, don’t hesitate to contact Custodio and Dubey. Our team of experienced personal injury lawyers is here to help you get the compensation you deserve. Take advantage of our free consultation to discuss your case and get personalized legal advice. You can visit us at 445 S Figueroa Street Suite 2520 Los Angeles, CA 90071 or call now for a free consultation on (888) 200-9431.