Economic, Non-Economic, and Punitive Damages: Getting Car Accident Compensation
If you’ve been the victim of a car accident, you have a right to compensation. That compensation can vary depending on the type of damage. Each type of damage, whether economic, non-economic, or punitive, has its own purpose in your car accident claim.
While these damages can help car accident victims a great deal, it can quickly get overwhelming trying to understand each form of compensation and how they apply to your case. Continue reading to learn more about economic, non-economic, and punitive damages and how a McAllen personal injury attorney can help you with your legal case.
Economic Damages
The expenses you incur after a car accident can quickly add up, adding financial burden to your list of worries. Economic damages are considered compensatory damages because they reimburse a victim for the monetary losses they’ve faced in a car accident. There are many types of economic damages:
- Medical bills
- Lost wages
- Lost earning capacity
- Vehicle repair
Because economic damages cover your measurable losses, it’s important to document each expense. Your hospital bills, physical therapy, medication, and car repair invoices can all be used to calculate the compensation you receive.
Non-Economic Damages
While not as straightforward as economic damages, non-economic damages are available to car accident victims for the intangible losses they’ve faced as a result of the accident. This type of compensation also falls under the category of compensatory damages because it is meant to pay for the damages done to the victim. There are common non-economic damages that you may receive:
- Pain and suffering
- Mental anguish
- Emotional distress
- Loss of companionship
To calculate non-economic damages, you must provide proof of the damage and adhere to strict guidelines set by each jurisdiction. Because this type of damage is subjective to each case, it can be difficult to anticipate an amount for your compensation. In many cases, your economic damages will be multiplied by a certain number based on the severity of the accident. So you can assume that the more severe your case, the higher amount of compensation you may receive for non-economic damages.
Punitive Damages
Unlike economic and non-economic damages, punitive damages are not meant to reimburse a victim for the loss they’ve faced. In fact, punitive damages exist to punish the defendant and prevent any future negligent behavior from recurring. Because this type of damage is subjective, it may only be applied in select cases. Similar to non-economic damages, punitive damages are often calculated based on the severity of the case and the amount of reckless behavior exhibited by the defendant.
Get Proper Car Accident Compensation With Villalobos Law Firm
The compensation you receive after a car accident cannot replace the loss you’ve endured, but it can help you get a piece of your life back. Understanding more about each type of compensation can help you determine what your case may be worth.
Hiring an experienced car accident attorney at Villalobos Law Firm gives you the advice and guidance you need to pursue your case and fight for your compensation. Contact our office today to start your FREE case evaluation.
