If you have suffered losses in a personal injury accident, then there are three potential types of damages in personal injury cases that you may be able to recover:
- Economic damages,
- Non-economic damages, and;
- Punitive damages.
Farah law can help you determine what losses you may be entitled to and help you secure the maximum amount in your case.
Economic Damages Make up the Majority of a Settlement
One of the main types of damages in a settlement is economic damages. These damages provide for various monetary expenses related to your losses and recovery.
For example, according to the Centers for Disease Control and Prevention (CDC)[1], the average medical cost of injury can range between $8,044 and $45,032. These estimates can fluctuate depending on the severity of the injury and whether or not an individual has ongoing medical costs associated with their injuries.
These numbers only reflect one part of economic damages. By the time other expenses are added in, victims can face overwhelming monetary losses.
As such, economic damages are meant to offset medical expenses, as well as lost wages or earning potential when injuries prevent victims from working, and costs to repair or replace property or belongings that were damaged.
Funeral and burial expenses may also be included if surviving family members are recovering compensation on behalf of their loved one.
Non-Economic Damages Provide for Your Pain and Suffering
Personal injury accidents can be traumatic experiences that can affect a victim physically, psychologically, and emotionally, which in turn can affect every area of their lives. Non-economic damages account for the pain and suffering you may have experienced because of the accident.
Compensation acknowledges how these losses affect your life and provides financial resources to help mitigate some of the impact so you can get the support you need.
Non-economic damages also covers your decreased quality of life, emotional distress, loss of consortium, and mental anguish, such as PTSD, anxiety, and depression. Unlike financial losses, these losses are intangible, so documenting your pain and suffering through daily journals and statements from family, friends, and mental health professionals is important for securing non-economic damages.
Punitive Damages May be Awarded Under Certain Circumstances
Punitive damages, also known as exemplary damages, are awarded only in certain cases. These damages serve the very specific purpose of punishing offenders for gross negligence, malice, or fraud. These damages are designed to discourage offenders from committing similar acts in the future.
If you suffered injury because of these factors, then you may be able to recover punitive damages as part of your settlement.
However, according to Texas Civil Practice and Remedies Code § 41.003[2], you must be able to provide “clear and convincing evidence” that the at-fault party acted with gross negligence, malice, or fraud, and that it led to your injury.
If you receive punitive damages in your case, these damages are awarded as extra compensation.
Factors That Can Impact the Value of Damages in a Personal Injury Case
There are several factors that can affect the value of your case and how much you can recover in damages. Most commonly, the severity of your injuries influences the value of your economic damages. Catastrophic injuries are often going to require more medical care, time away from work, etc., than an accident that results in a couple of broken bones and some lacerations.
Lawyers can talk to your doctors to gain a thorough understanding of your condition.
Insurance limits and insurance company tactics can also affect the value of your settlement. Insurance companies will not pay more than the limit specified in the insurance policy. Insurance companies also try to get away with paying you less so they can preserve their bottom line.
Lawyers know this and negotiate with the insurance company to ensure you are paid fairly. They can also help you pursue a lawsuit if an insurance settlement is not enough to cover your losses.
Additionally, sharing fault for an accident can significantly impact how much you can recover. According to Texas Civil Practice and Remedies Code Chapter 33[3], fault is represented by percentages. If your fault percentage is 50% or below, then your settlement could be reduced by the amount of fault you hold. Compensation is generally prohibited for fault percentages that are 51% or higher.
Pursue Damages Before Time Limits Expire
While you may be eligible to recover damages in a personal injury case, cases must be filed within the statute of limitations period for your type of case. Personal injury cases are commonly subject to these time limits to ensure claims are resolved in a timely manner. Case time limits are also important for preserving the quality of evidence and securing more reliable information from involved parties and witnesses.
For most personal injury claims, the time limit is two years from the time the accident occurred, according to Texas Civil Practice and Remedies Code § 16.003[4]. This time limit can fluctuate with certain types of cases, so acting quickly and consulting a lawyer are important to make sure you can still recover damages in your case.
Talk to Farah Law About Damages in Your Case
Damages are an important part of moving forward after an accident, but there are also many factors to consider when recovering your losses. Farah Law helps you identify your losses, calculate their value, and negotiate a fair settlement. Schedule a free consultation with us today to learn more about recovering damages in your case.
[1]https://wisqars.cdc.gov/cost/
[2] https://statutes.capitol.texas.gov/?tab=1&code=CP&chapter=CP.41&artSec=41.003
[3] https://tcss.legis.texas.gov/resources/CP/pdf/CP.33.pdf
[4] https://statutes.capitol.texas.gov/?tab=2&code=CP&chapter=CP.16&artSec=16.003
