When someone is injured due to the negligence or misconduct of another, they may be entitled to compensation to cover their medical expenses, lost wages, and other losses. Numerous factors must be considered to determine the amount of personal injury compensation.
Among the primary types of compensation are economic damages, non-economic losses, and punitive damages for highly extraordinary circumstances. If you find yourself in the unfortunate situation of asking yourself, “Is there a catastrophic injury lawyer near me?” This article is important for you. In it, we’ll cover these different compensation types and the variables contributing to compensation in a personal injury case.
● Compensation For Economic Damages
Economic damages in a personal injury case refer to any provable financial losses that directly result from such injury. These damages may include medical expenses, lost wages due to time taken off work, property damage, and loss of earning capacity.
The amount of economic damages is determined by reviewing the total out-of-pocket costs associated with the injury and proceeding treatments before factoring in any long-term impact on earning capacity. In some cases, expert testimony may also be needed to evaluate the economic impact resulting from the injury.
● Compensation For Non-Economic Damages
Non-economic damages in a personal injury case typically include intangible losses that cannot be measured financially, such as pain and suffering, mental anguish, and emotional distress. The basic test to determine liability for non-economic damages is the extent of harm suffered by the injured party. In many cases, the degree of harm sustained is considered while calculating this amount.
Like with cases regarding economic damages, lawyers may even consult specialists to assess the amount of just compensation. Courts measure compensation using mathematical formulas and comparative investigations to determine a fair payment figure for non-economic damages. If you’ve been searching for a “catastrophic injury lawyer near me“, right now is the perfect time to begin the process.
Compensation For Punitive Damages
Punitive damages, sometimes referred to as exemplary damages, serve two purposes. They are awarded to plaintiffs who have suffered from an especially heinous at-fault defendant to punish and discourage that defendant’s behavior. They are typically offered in addition to compensatory damages meant to address economic losses from the incident.
When punitive damages are determined, factors such as the defendant’s financial condition, the severity of wrongdoing, and evidence demonstrating any malicious intent are considered. While often determined via courtroom proceedings, personal injury cases may also have pre arranged punitive damage agreements.
Contact An Attorney Right Away
In the aftermath of a catastrophic injury, it is essential to contact an experienced personal injury lawyer. A knowledgeable attorney can help navigate the legal system, file documents, research case precedents, and navigate legal processes.
They will help ensure your rights are protected and give you an idea of what to expect in terms of economic damages like lost wages, medical expenses, pain and suffering, or punitive damages. To find a catastrophic injury lawyer, search for a “catastrophic injury lawyer near me” and locate a reputable attorney immediately.
Conclusion: Hire And Attorney And Get Justice
When damages are awarded due to negligence or misconduct by another person or entity, three major factors are involved in determining what sort of compensation should be awarded: economic, non-economic, and punitive damages. Personal injury attorneys are well-versed in these cases and are key to getting just compensation for you and your family. Knowing these factors can help you understand what determines compensation in personal injury cases.
