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What Are Economic Damages in a Personal Injury Case?

Chances are, if you’ve been injured in a California personal injury accident, you are suffering a financial burden as a result. The best way to recover expenses and monetary losses after an injury accident is with the help of a personal injury lawyer.

Whether you were injured in a car crash, slip and fall, or other personal injury accident, you need to reach out to an experienced California personal injury attorney regarding your rights to financial compensation, including the recovery of economic damages.

What are economic damages in a personal injury case? Let’s take a look.

Economic Damages

Economic damages are recoverable monetary losses following an injury accident. The award of economic damages in a personal injury lawsuit is designed to make the victim financially “whole.” In other words, economic damages compensate victims for actual expenses and financial losses they suffered due to the accident. 

What Economic Damages can be Recovered in a California Personal Injury Lawsuit?

Any realized monetary losses incurred as a result of your injury accident are categorized as economic damages. This includes expenditures immediately following the injury accident and future financial losses resulting from your injuries.

Property loss:

After an injury accident, you may claim the costs of repairing or replacing damaged property, such as your car after a car wreck. Estimates or appraisals will be needed to determine the amount of compensation you are due.

Medical costs:

Medical costs directly resulting from the injury accident are recoverable, as are future-related medical, physical therapy, or rehabilitation costs.

  • Emergency response and urgent care costs
  • Ambulatory services
  • Doctors visits
  • Medications and prescriptions
  • Physical therapy
  • X-rays and diagnostic tests
  • Lab work
  • Travel costs for medical appointments

It is essential you keep accurate records to substantiate immediate and future expenses. Maintain a file of your medical records, diagnostic reports, prescription and treatment receipts, medical statements, and travel costs. Your personal injury attorney will use these documents to substantiate your claim for economic damages.

Lost wages:

If you missed work following your injuries, you may file a personal injury claim for lost wages, including tips and bonuses.  

Lost earning capacity:

Severe, debilitating injuries can sometimes prevent you from returning to work in the same capacity as before your accident. In this case, you may also claim damages for lost earning capacity or future income.

The value of lost future income is calculated by factoring in your: 

  • Age 
  • Health
  • Occupational skills
  • Vocational training
  • Talents
  • Life expectancy

A seasoned personal injury lawyer will guide you regarding a claim for lost future wages as this is critically important to your financial recovery and future well-being.  

Lifestyle adjustments:

Lifestyle adjustments are often necessary after a personal injury, including:

  • Household help to complete chores and household duties
  • Installation of wheelchair ramps or handicap aids
  • Transportation services for yourself or others in your household who were dependent on you

The costs of extra help can add up, particularly when needed long-term. An accurate financial assessment of your medical condition, prognosis, and long-term needs is essential when identifying needs for immediate quality of life improvements and ongoing external services. 

Hire a California Personal Injury Attorney to Help

Recovering economic damages in a personal injury lawsuit is not always as straightforward as it seems. 

While many economic damages compensate injury victims for immediate monetary losses, future losses must also be considered as a holistic approach to financial recovery.

An experienced California personal injury lawyer will be able to guide you regarding economic losses in a personal injury lawsuit.

For more information about economic damages and personal injury claims, contact our office today