What Damages May I Be Entitled to After a Car Accident?
Individuals injured in a car accident caused by negligence have specific rights to pursue compensation for the damages they have sustained. Proving negligence is one aspect that must be understood, but for the victim, it’s imperative to recognize what damages may be available for compensation.
Commonly, two types of damages exist, but there are some instances when a third type of damage may be considered for a victim. These include economic and non-economic damages, as well as the potential for punitive damages in some types of cases.
Economic Damages: What are They?
When you hear the term economic damages, it refers to losses the injured individual suffered that can be attributed to a direct monetary value. For example, if you have to go to the hospital following any injury, you will receive a medical bill. The final total on the receipt is seen as the direct loss and is included in economic damages.
Other types of economic damages can be lost income and property damage as they can be calculated and the courts can award an injured party the exact amount necessary to cover these expenses caused by negligence.
How are Non-Economic Damages Calculated?
Non-economic damages are the most crucial part of a car accident case because they award the injured party compensation for expenses not directly related with a quantifiable number. The idea behind non-economic damages to award for pain and suffering the injured party endures.
While many accident settlements involving the insurance company include the non-economic damages based on an agreed upon number, a case that goes to trial relies on the jury and court to decide the exact amount pain and suffering would be worth in your matter.
When are Punitive Damages Available?
In both Texas and New Mexico, punitive damages may be available to an accident victim under very specific circumstances. The law states that a person may be responsible to pay punitive damages when their actions are considered intentional or otherwise reckless. Punitive damages don’t have a direct value as they are designed to serve as a punishment to the negligent party.
At Templeton Smithee Hayes Heinrich & Russell, LLP, we work hard to put your rights first. Our car accident attorneys will work with you to build a strong case strategy and guide you through the process to pursue the justice and compensation you deserve during this difficult time.
Call our firm at (806) 397-0300 today.