What are Economic Damages in a Personal Injury Case?

The primary purpose of filing a personal injury claim is to pursue and recover financial compensation from an at-fault party for a victim’s damages. When a settlement or verdict is obtained, the at-fault party’s insurance company pays the verdict or settlement. This is intended to put the victim back into the position they were in before the accident, or to make them whole once again, including a monetary amount for the pain and suffering the injured person endured.

But we all know this isn’t always possible. For injured persons, damages are more than just financial, and a victim can never be the same after a serious accident. Therefore, several types of damages exist in accident law and are awarded in successful personal injury cases. But many people are confused about what the term damages represents in personal injury tort law.

Continue reading to learn what damages are in relation to accident lawsuits, and the difference between economic and non-economic damages.

Indiana Accident Attorneys 317-881-2700
Indiana Accident Attorneys 317-881-2700

Personal Injury Damages and Losses

Damages that result from a personal injury caused by a negligent party are generally losses. These losses can be financial, emotional, physical, and mental. Depending on the types of losses experienced following a personal injury, damages can be economic, non-economic, punitive, or a combination of all three. There are also damages known as nominal damages, which are small sums of compensation that are awarded to acknowledge that a victim, although not seriously injured or subject to substantial financial losses, was still violated in terms of their rights.

Facts About Economic Damages

Economic damages, also known as compensatory damages or general damages, are the calculable financial losses that can be defined by an actual dollar amount and redeemed through financial compensation. Economic damages include hospital bills (i.e., hospitalization, ambulance transport, anesthesia, emergency room services, surgeries, doctor care, x-rays, MRI’s, etc.), medical expenses (i.e., physical therapy, medical equipment, medication, etc.) lost wages from time off work, property damages, lost benefits from spouses’ death (i.e., insurance, veteran benefits, etc.), in-home nurse, and anything else that was a direct financial loss to the victim or their family.

Facts About Non-Economic Damages

Non-economic damages are more difficult to assign a dollar amount to because they are not direct and tangible monetary losses, like medical bills and lost wages. Instead, they are damages awarded for emotional or mental losses and tribulations. Examples of non-economic losses include pain and suffering damages, mental anguish or illness (i.e., depression, anxiety, etc.), loss of companionship (i.e., wrongful death, brain damage to loved one, paralysis of loved one that changes or prohibits the relationship, etc.), long-term medical care or medication dependencies, diminished quality of life, permanent disabilities, loss of ability to work, and more.

Understanding Punitive Damages

For very malicious or egregious acts, a judge or jury might also award punitive damages depending on the circumstances of a case. These are different from economic and non-economic damages because they are not intended to put a victim back into the same position they were in before an injury or accident, at least as much as possible. Although punitive damages are still paid in part to the plaintiff, they are meant to be more of a punishment for the at-fault party. They are intended to set a public example and double as a deterrent for the type of gross negligence involved in the case.

Are you ready to speak with a licensed injury attorney about obtaining compensation following your wrongful accident? Contact the Law Office of Craven, Hoover, and Blazek P.C. at 317-881-2700 to schedule a free initial case evaluation for your personal injury claim in Indianapolis, Indiana. Act now before evidence is lost and time runs out on your claim. We represent clients all throughout the state.

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Common Damages Awarded for Traumatic Brain Injury Accidents
The Most Common Types of Damages Awarded in Personal Injury Lawsuits
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What are Common Damages in a Personal Injury Claim?

Accidents can happen at any time, and on a wide scope of severity. At times, accidents happen because of a person’s negligence, which can lead to a personal injury claim. Common examples of personal injury cases include motor vehicle collisions, slip and falls, workplace injuries, dog bites, medical malpractice, product defects, and assault.

When someone is seriously injured in an accident due to another’s negligence, they may be entitled to certain compensation for their damages and losses incurred as a result of the accident and subsequent injuries. Damages and losses differ from case to case depending on several factors, such as the extent of injuries, the extent of negligence, and the unique circumstances of the accident.

Continue reading to learn more about common personal injury damages, and how to get started on your accident claim today.

Indiana Personal Injury Law Firm
Indiana Personal Injury Law Firm 317-881-2700

Common Types of Losses

Personal injury claims generally recognize and consider three types of losses, referred to as “compensatory damages.” These include economic losses, future economic losses, and non-economic losses. Types of economic losses may include medical expenses, hospital bills, over-the-counter medication costs, prescription costs, lost wages, time off work, childcare expenses, home adaption expenses, fuel costs (to and from doctors’ visits), and similar expenditures.

Types of future economic losses may include prolonged medical treatment, physical therapy, long-term care, future medical expenses, future prescription costs, future hospital costs, and more. Types of non-economic losses may include pain and suffering, permanent disability, permanent disfigurement, mental anguish, PSTD, loss of social life, loss of work abilities, loss of companionship, loss of education experience, and more.

Medical Expenses

After being seriously injured in an accident, a person will require medical attention; and unfortunately, medical care is not free. Medical bill coverage is a big part of the financial recovery in a personal injury case. Services like ambulance rides, surgeries, doctor’s appointments, physical therapy, medical treatments, medicine, MRI’s, x-rays, CT scans, follow up care, and more, all cost a lot of money, even with health coverage. The total cost of a victim’s medical expenses varies from case to case, and depend largely on the extent and needs of their injuries. For more serious injuries, medical expenses can be ongoing for the remainder of a victim’s life, so future medical costs must be considered in a personal injury claim as well.

Lost Income and Additional Losses

When a person is seriously injured in an accident, they are unable to work, which means they lose out on the wages that generally pay for their cost of living. Rent, mortgages, car payments, electric bills, groceries, and more, are all common bills that must be paid to maintain the quality of life a victim had before the accident. If they are unable to work, they are losing money that usually pays these expenses and more. These types of losses may be recoverable in a personal injury case.

Additional monetary losses that may result from a serious injury include vehicle damages, funeral costs, pain and suffering, loss of companionship, loss of work abilities, long-term emotional trauma, PTSD, and more.

Where to Get Trusted Legal Advice Regarding Your Indianapolis Personal Injury Claim

Call the Law Office of Craven, Hoover, and Blazek P.C. at 317-881-2700 to make a personal injury claim in Indianapolis. Licensed accident attorneys, Daniel Craven, Ralph Hoover, and Keith Blazek are ready to pursue your case and obtain a full and fair settlement for your losses. We offer free initial consultations and never collect lawyer fees unless we win compensation for you. Call 317-881-2700 to schedule your complimentary consultation with a seasoned personal injury attorney in Indianapolis, IN today.  We represent injured persons throughout the State of Indiana.

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How Much Compensation Will I Get in a Personal Injury Lawsuit?

If you have been seriously hurt in an accident as a result of another’s negligence, you are most likely entitled to compensation for your subsequent damages and losses. You will need to retain the services of a seasoned personal injury law firm that can prove in a court of law that you are owed remuneration for your medical bills, hospital bills, lost wages, pain and suffering, and all other related losses, and ultimately, ensure that you receive a full and fair settlement. But you are probably eager to know how much can you expect to get paid in a personal injury settlement? Well the answer is much more complex, and varies from case to case.

Continue reading to learn which factors and formulas are used by the court and jury to determine what a fair settlement for a personal injury lawsuit would be, as well as, what you can expect to pay your personal injury lawyer once you are awarded compensation.

Personal Injury Attorney Law Firm 317-881-2700
Personal Injury Attorney Law Firm 317-881-2700

Damages and Losses After a Personal Injury

Under tort law, when a person is a victim of a civil wrong-doing, a court or jury may award damages to compensate them for their injuries and losses. Damages vary, but commonly include lost wages, medical expenses, hospital bills, pain and suffering, mental anguish, prolonged rehabilitation, loss of consortium, and various other economic and non-economic losses.  

Economic damages are for tangible financial losses, like bills and lost wages, while non-economic damages might include pain and suffering, mental anguish or illness (i.e. depression, anxiety, etc.), loss of companionship (i.e., wrongful death, brain damage to loved one, paralysis of loved one that changes or prohibits the relationship, etc.), long-term medical care or medication dependencies, diminished quality of life, permanent disabilities, loss of ability to work, and more.

Assessing the amount of damages is often a difficult and complex process since many variables influence the final determination. A court or jury must consider the losses or injuries of a victim’s person, property, and overall quality of life. Personal injury cases generally address three primary issues that ultimately determine what the fair and full payment would be for a victim’s injuries, which are as follows:

LIABILITY – Establishing the degree of negligence of another person or entity;

DAMAGES – The amount of compensation that fairly acknowledges compensates for and covers a person’s injuries;

SOURCE OF COLLECTIONS – Insurance or additional assets to cover the award of damages;

Paying for a Lawyer

If you have asked yourself if you can afford an accident lawyer, the answer is, “yes!” Anyone can afford a personal injury attorney if they have a valid claim and case. They can even have their claim examined by a licensed attorney for free, to determine if they have a valid claim. You see, most personal injury law firms do not collect attorney fees unless they recover a settlement for you. This is why they offer free initial consultations. The consultation gives them an opportunity to discuss a client’s case without obligating them or you to pay anything out of pocket.

Following the consultation, a personal injury lawyer will evaluate the client’s claim to determine if the case is strong enough to pursue. If they believe their client is entitled to compensation, they will take on their case and work toward obtaining a full and fair settlement for their damages. The more a lawyer can recover for you, the more they get paid, which motivates them to work even harder on clients’ cases. A personal injury attorney makes it easy for victims to pursue an accident claim or lawsuit, without risking thousands of dollars of their own money and the chance they may lose their case. 

How to Get Started on Your Claim Today

Call The Law Office of Craven, Hoover, and Blazek P.C. at 317-881-2700 to make a personal injury claim anywhere in Indiana. Our firm is located in Indianapolis, Indiana. Seasoned attorneys, Daniel Craven, Ralph Hoover, and Keith Blazek, have a focus on accident law and retain extensive trial and litigation experience. Not only do we offer free initial consultations, we never collect lawyer fees unless we recover a settlement for you. Get started by scheduling your consultation, today.

Indianapolis Personal Injury Lawyers 317-881-2700
Indianapolis Personal Injury Lawyers 317-881-2700

What Will Personal Injury Compensation Cover?

Accidents happen. But sometimes they happen because of human error or negligence. Common examples of personal injury cases include slip and falls, workplace accidents, car accidents, dog bites, medical malpractice, product defects, and assault. When a person is seriously injured in an accident because another person or entity was careless in some way, they can seek out monetary compensation for their damages and losses. Damages and losses differ from case to case, depending on the circumstances of the case, the extent of injuries, the extent of negligence, and more. Personal injury claims generally recognize and consider three types of “losses, called compensatory damages.

Personal Injury Lawyers 317-881-2700

Personal Injury Lawyers 317-881-2700

Types of Losses

1. Economic Losses
2. Future Economic Losses
3. Non-Economic Losses (Pain & Suffering)

Compensatory damages are meant to cover a wide variety of expenses and associated costs. Although most of these costs and expenses are pretty obvious, there are many others that victims often unaware of. This is why it is important to hire an experienced personal injury lawyer if you or someone you love was recently injured as a result of another’s negligence. They have the knowledge and resources to navigate every aspect of your case, and recover the fair compensation you deserve.

Types of Economic Losses:

• Medical Expenses
• Hospital Bills
• OTC Medication Costs
• Prescription Costs
• Lost Wages
• Time Off Work
• Child Care Expenses
• Home Maintenance Expenses
• Fuel Costs (to and from doctors’ visits)

Types of Future Economic Losses:

• Prolonged Medical Treatment
• Physical Therapy
• Long-Term Care
• Future Medical Expenses
• Future Prescription Costs
• Future Hospital Costs

Types of Non-Economic Losses:

• Pain and Suffering
• Permanent Disability
• Permanent Disfigurement
• Mental Anguish
• PSTD
• Loss of Social Life
• Loss of Work Abilities
• Loss of Companionship
• Loss of Education Experience

Contributory and Comparative Negligence

Depending on where and how your injuries occurred, some states use contributory negligence laws in personal injury cases. These laws prohibit personal injury victims from recovering compensation (or full compensation) for their losses if the accident was in any way their fault. Other states have laws that will grant victims partial compensation if the accident was only partially their fault.

However in Indiana, we are a comparative fault state. This means that if a victim is 50% or less “at-fault” compared to the other party (or parties), they collect compensation. But if a victim is more than fifty percent at-fault, they cannot collect compensation. It is strongly suggested to discuss your recent injury claim with an Indianapolis accident attorney that can determine the best strategy for your case.

Craven, Hoover, and Blazek P.C.

Craven Hoover Blazek Personal Injury Law

Craven Hoover Blazek Personal Injury Law 317-881-2700

Call Craven, Hoover, and Blazek P.C. at 317-881-2700 if you were recently injured in an accident in Indianapolis, Indiana and its surrounding counties. Seasoned personal injury attorneys, Daniel Craven, Ralph Hoover, and Keith Blazek are happy to discuss your case and determine what kinds of compensation are due to you. We offer free initial consultations and never collect lawyer fees unless we win your settlement. Call 317-881-2700 and speak with a friendly office attendant to schedule an appointment, today.