4 Most Common Economic Damages Involved in Car Accidents

Being involved in a car accident can disrupt your life in unimaginable ways. From needing constant medical attention to losing your job, you may be unable to recognize your life now when you compare it with your life before the accident. You can read more information here to learn about the types of injuries common in car accidents and how an experienced car accident attorney can help you fight for your right to receive the compensation you deserve. If you have doubts about what damages you are entitled to, here are the four most common economic damages you can claim after being injured in a car accident.

Different Types of Damages

When you set out to claim damages after being injured in a car accident, it is vital to understand the types of damages and how they are classified. In general, there are two broad categories of damages and these are:

Economic Damages

These refer to the losses that are easy to quantify and include medical bills and other property losses.

Non-Economic Damages

These are damages that are abstract and intangible. Nevertheless, they may have a tremendous impact on those suffering from them. They include emotional, mental, and psychological pain and suffering, emotional distress, loss of consortium, and others.

How Are Economic Damages Established?

Establishing the value of economic damages is relatively straightforward since it entails adding up bills and other losses that have paperwork to back them up. As an example, you may include the cost to have your car repaired or, if the vehicle is a total loss, the fair market value of the car before the accident. Some items are easy to add up, while others call for the expertise of an accident attorney who can put a value on them.

What Are The 4 Most Common Types of Economic Damages You Can Claim After a Car Accident?

The following are the most common types of economic damages you may include in your claim:

1. Medical Bills

These include bills from every healthcare practitioner you have had to see since being injured. Keep a detailed file of all the bills you have received and paid. Whenever possible, request an itemized bill from the medical professional who has rendered services related to the injury.

Future medical bills may also be claimed when a physician gives you information that establishes why you would require continued treatment in the future and what type of treatment this would be. With this information, your attorney can help you place a value on future medical bills.

2. Lost Earnings

It is common for injuries to impact your work by preventing you from performing it or going to the office. You may now have to devote your days to receiving rehabilitation sessions, you may have mobility issues, or have to spend time in a hospital. If so, you can prove your injuries have affected your income. You may also claim loss of income in the future and loss of earning potential.

3. Loss of Personal Property

Being involved in a car accident could result in significant damage to your vehicle. You may end up needing funds to have your car repaired or, if the car is determined to be a total loss, you may also claim that replacement is necessary. You may also have lost personal items during the crash. Your phone or computer might have been damaged, and other personal items you may have been carrying in your car when the accident occurred.

4. Funeral Expenses

When a loved one loses their life in a car accident, you may also claim expenses associated with their burial. These include the cost of the funeral or cremation service, the coffin, the hearse, and the cemetery site.

What About Non-Economic Damages?

In a personal injury lawsuit, you may also receive compensation for non-economic damages such as pain and suffering, emotional distress, loss of companionship, PTSD, and loss of enjoyment of life, among many others. To place a monetary value on these intangible losses, your car accident attorney will help you based on the nature and severity of your injury, and how long you are expected to be in pain. Your attorney can also help determine whether you would be entitled to receive compensation for any other types of damages and how much those may be worth.