After suffering an injury as a result of someone else’s negligence, it’s easy to understand that you would like to hold the responsible party financially accountable. After all, this kind of situations often comes with high medical bills, the inability to work, and other potential factors that impact your financial status.
However, it’s important to know that a personal injury lawsuit can be imperative in helping you cover the expenses that you are experiencing because of the injury. Here are the different types of compensation to which you may be entitled and what they mean for you.
Valuation of Economic Damages
Economic damages refer to all compensation that can help you recover the amount of monetary losses you have experienced as a result of the injury. These are valued based on the direct expenses you have paid or lost.
For instance, economic damages can include the following:
- Medical expenses: After an injury, you may need to pay for medical treatment, equipment, prescriptions, and more. Economic damages can compensate you for the total amount you spend on medical bills.
- Lost income: If you are unable to work as a result of your injuries, you may miss out on income for a long duration. Compensation can help you recover the amount that you should have earned while being unable to work.
- Property damage: If your vehicle or another piece of property was significantly damaged as a result of the negligence, economic damages can help you with the costs of repair or replacement.
Understanding Non-Economic Damages
There may be some situations in which non-economic damages can be recovered to help with losses that don’t have a monetary value attached to them. This can include pain and suffering, mental anguish, and more.
Economic damages are used to help the injured move forward in the most positive manner possible.
At Shapiro Law Firm, we want to help you pursue the compensation you need to cover the expenses you have experienced because of someone else’s negligence. When dealing with the physical pain of a serious injury, the last thing you should have to worry about is financial struggles.
We’ll work hard to help you get the results you need because we know how important they are to you. Trust us to be there for you every step of the way. Our Tallahassee personal injury attorneys are committed to your rights from start to finish.