Economic, Non-Economic, and Punitive: Personal Injury Accident Damages 101
Injuries can affect all aspects of our lives, from the work we do to the relationships we have. If your injury was caused by the actions or negligence of someone else, you may be owed personal injury compensation for your losses.
While not every case will qualify for full compensation, personal injury financial relief is meant to compensate for the harm a person faces as a result of an injury, and that includes emotional harm. An Edinburg personal injury lawyer can help you determine how much you’re owed.
Keep reading to learn more about personal injury compensation and how it’s calculated.
What Are Compensatory Damages?
Both economic and non-economic damages fall under the category of compensatory damages, but punitive damages do not.
Essentially, compensatory damages are used to compensate the plaintiff for any injuries or losses they suffered as a result of an accident. However, economic and non-economic damages are calculated very differently.
What Are Economic Damages?
Economic damages are meant to compensate victims for the monetary expenses they have faced and will face as a result of a personal injury. Calculating how much is owed for past expenses is relatively simple. In many cases, there will be a receipt or documentation showing how much was spent on what. Future expenses can be a bit more complicated; you should talk to a personal injury attorney to learn what you may be owed for future losses. Economic damages often include:
Lost wages
Present or future medical bills or treatment
Replacement or repairs to property
Attorney fees
Disability
Funeral costs
What Are Non-Economic Damages?
Sometimes referred to as special damages, non-economic damages are meant to compensate victims for the non-financial losses and suffering they face. Non-economic damages are often harder to calculate than economic damages. In Texas, non-economic damages are usually calculated using a multiplier of one to five, depending upon the severity of the incident. Some examples of non-economic damages include:
Disfigurement
Loss of relationships
Loss of sexual functions
Reduced mobility
Damaged reputation
Reduced enjoyment or quality of life
Emotional distress
PTSD, depression, and other conditions
What Are Punitive Damages?
Punitive damages are awarded by the court when a defendant’s behavior is deemed to be willfully malicious and beyond negligent. While this compensation goes to the victim, its purpose is to punish the defendant and to prevent them and other parties from committing similar actions in the future.
Punitive damages are rare, and they often target entities rather than individuals, such as a corporation using false advertising or selling harmful products.
Although there are no official caps on punitive damages, they typically don’t exceed four times the total compensatory damages. However, there are ways for this number to increase, especially if no non-economic damages were awarded or the compensation was determined to be inadequate.
Get the Personal Injury Accident Compensation You Deserve With Help From Bobby Garcia
A personal injury can leave you struggling to handle your day-to-day tasks, and going through the process of filing a personal injury lawsuit on your own isn’t going to make that any easier. If you need personal injury compensation, don’t go it alone. Get help from an Edinburg personal injury attorney.
Here at the Law Office of Bobby Garcia, we are dedicated to helping victims of personal injuries get the compensation they deserve, and we would be proud to fight on your behalf in insurance negotiations or a court of law.