If you have been hurt in an accident, you have likely suffered many types of losses. This includes both financial losses as well as intangible losses, such as pain and suffering. Damages are the remedy used by the civil court system to compensate you for all your losses.
Economic damages are used to compensate you for your financial or monetary losses. Keep reading to learn more about common types of economic damages, as well as what you need to prove to recover compensation.
Common Types of Economic Damages in North Carolina Personal Injury Claims
There are many types of economic damages that may be available in your personal injury claim.
Some of the most common types of economic damages include:
Medical Expenses
After an accident, it is not uncommon to incur significant medical bills. You should not be left to deal with those expenses on your own when someone else’s negligence or careless behavior caused your injuries.
You have a right to recover all your reasonable and necessary medical expenses resulting from your accident, such as:
- Emergency treatment
- Ambulance transport
- Surgery
- Doctor visits
- Physical therapy
- Rehabilitation
Not only can you recover the amount of your current medical bills, but you can also get compensation for your expected future medical expenses as well. Imagine that you suffered catastrophic injuries in a drunk driving accident. You may require ongoing medical care for the rest of your life.
In that case, you would be entitled to compensation to cover the cost of that future care. Putting an accurate value on these types of claims can be difficult. Often, both medical and financial experts are needed to help you put an accurate value on the expected cost of your future treatments.
Lost Income
If you were forced to miss work because of your injuries, you can also recover the value of your lost wages. The types of lost income you may be able to recover include:
- Lost wages
- Bonuses
- Commission
- Independent contractor earnings
You will need detailed documentation to prove the value of these losses, especially if you do not receive regular wages. Some of the things you can use to prove the value of these losses include pay stubs, tax returns, timesheets, and other documentation.
Out-of-Pocket Expenses
Some accident victims often overlook out-of-pocket expenses because they may seem small in nature. However, these expenses can really add up over the course of your recovery.
Common examples include:
- Prescription or over-the-counter medication
- Medical equipment or devices
- Parking or transportation to medical appointments
- Hotel stays, if overnight travel was required for medical treatment
- Household services that you are now unable to perform, such as cleaning, child care, or lawn care
To prove these damages, make sure that you keep detailed documentation of all expenses. This includes receipts as well as a detailed description of why the purchase was necessary.
Diminished Earning Capacity
You may be unable to return to work after your injury. Similarly, you might be able to work again but not perform the same type of work that you did prior to your accident. This is quite common in workplace accident claims.
If you are unable to go back to work or are forced to take a lower-paying job, you can recover your lost earning capacity. This is the difference in what you would have been able to earn over your lifetime had it not been for the accident versus your expected income after the accident.
Calculating diminished earning capacity can be very complex, and you may need help from experts, such as vocational and financial experts.
Property Damage
Property damage is not related to an injury, but you still deserve to get compensation for any financial losses you suffered because of property damage. Property damage claims are common after car accidents.
When someone else causes your car accident, you are entitled to recover compensation for the repair or replacement of your vehicle. Property damage claims are not just limited to car repairs, but they can include compensation for any other type of property that may have been damaged by the at-fault party.
Proving Your Economic Damages After an Accident
In order to get compensation for your damages, you will need to prove them. Typically, this requires proving the other party’s negligence.
That requires showing:
- Duty of care
- Breach of duty
- Causation
- Damages
If you can successfully prove all four of these elements, you have a high likelihood of success with your claim. Failure to prove even one of these elements might cause you to lose your case.
Call the Raleigh Personal Injury Lawyers at Bello Law Firm, PLLC Today for Legal Assistance
Even though you may be entitled to compensation, getting the money you deserve without the help of an experienced personal injury lawyer can be challenging. Thankfully, the team at Bello Law Firm, PLLC can help you prove your case and identify all available damages. Contact us today at (919) 884-0031 to schedule a free consultation with a Raleigh personal injury lawyer and let us put our experience to work for you.
Bello Law Firm, PLLC – Raleigh Office
421 Fayetteville St #1100, Raleigh, NC 27601
(919) 884-0031
