What are economic damages?

Economic damages refer to the tangible, monetary losses suffered by a plaintiff in a negligence action. They include medical bills and supplies, lost income, property damage, and other out-of-pocket expenses incurred as a result of your injuries. You may also recover economic damages in anticipation of future economic losses such as surgery costs and time away from work. If you can no longer perform your job, you may also be compensated for your lost earning capacity.  Unlike non-economic damages (i.e., pain and suffering) which are based on a subject standard, economic losses are relatively easy to quantify.

Both types of awards are important components of any personal injury lawsuit. At the law firm of Valiente Mott, we are committed to seeing our clients recover the full value of their past and future economic losses. With your input, we will assemble a thorough, comprehensive record of these expenses, and aggressively pursue the full amount owed to you in the aftermath of a serious injury.

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How Are Economic Damages Calculated?

Economic damages are meant to cover all financial losses related to your case. Though there is no strict rule in place for adding up the total, the losses must be verifiable. Medical bills, receipts, insurance statements, pay stubs, and other supporting documentation are easy to obtain and assign value. Other expenses such as future lost earning capacity may require occupational expert assistance to come up with an accurate number.

Remember, any expense associated with your cause of action qualifies as an economic loss. Travel costs to attend medical appointments and physical therapy, prescription medication, missed bonuses, mental health treatment, household services to help you do chores you no longer can perform- all fall under the umbrella of economic damages. There are no limits to your claim for monetary losses in a personal injury case.

Your lawyers at Valiente Mott are an invaluable piece of this puzzle. You can count on us to reveal costs you may not have considered, obtain documentation you may have lost, and find the experts needed to establish future losses both medical and professional.

Valiente Mott Can Help Recover Your Losses

Economic damages can be obtained in a settlement or in a trial verdict rendered by a judge or a jury. Valiente Mott has a proud record of personal injury outcomes in Nevada and Utah. Our sterling reputation is a testament to how hard we fight for our clients, both in court and at the negotiating table.

State statutes of limitation act as a deadline for you to file a personal injury lawsuit. If you were injured due to negligence, please reach out to Valiente Mott today for a complimentary consultation. We take no fee unless we recover compensation on your behalf.

If you have a question or you are just not sure about putting together a case, let our Injury Law Firm help with your concerns.  No fee unless we win.

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