If you've been injured due to someone else's negligence, you may be entitled to compensation for the economic damages you've suffered. Economic damages, also known as special damages, are crucial in personal injury cases that aim to compensate victims for their financial losses resulting from an accident or injury. In this blog, we'll dive into the details of economic damages in a personal injury case and how they can impact your legal claim.
What are Economic Damages?
Economic damages refer to the quantifiable financial losses that a victim incurs as a result of an injury or accident caused by another party's negligence. These damages are typically calculable and can be proven with evidence such as bills, receipts, and other relevant documentation. Economic damages may include, but are not limited to, the following:
- Medical expenses: Economic damages often include medical expenses related to the injury, such as hospital bills, doctor's visits, prescription medications, physical therapy, and other necessary medical treatments. These damages can also cover the estimated cost of future medical care, including ongoing treatments or rehabilitation.
- Lost wages: If your injury prevents you from working, you may be entitled to compensation for lost wages. Economic damages can cover the income you would have earned during the time you were unable to work due to your injury, including wages, salaries, bonuses, and other employment benefits.
- Property damage: Economic damages can also include the cost of repairing or replacing damaged property resulting from the accident, such as a damaged vehicle or other personal belongings.
- Reduced earning capacity: If your injury has long-term effects that impact your ability to earn a living, such as a disability that limits your future earning potential, you may be entitled to compensation for reduced earning capacity. This can include compensation for the difference between your pre-injury earning potential and your reduced earning potential due to the injury.
- Other out-of-pocket expenses: Economic damages may also cover other out-of-pocket expenses that you incurred as a result of the injury, such as transportation costs to medical appointments, home modifications to accommodate a disability, or the cost of hiring someone to help with household chores or childcare while you recover.
If you have been injured in an accident, it is imperative that you hire a skilled personal injury lawyer in Los Angeles who has the experience, knowledge, and resources to help you recover maximum compensation for your injuries and other losses. Contact Fiore Legal for a free consultation!