Both general and special damages are considered compensatory damages, meaning that their purpose is to restore compensation to victims for their losses. These damages are sometimes referred to as “non-economic” and “economic”. The recoverable damages in a personal injury lawsuit fall into two main classes: compensatory and punitive. It is important for plaintiffs to understand the distinctions between the two to find out if one (or both) will be able to remedy their injury claim.
Punitive damages are not designed to compensate the victim, but to punish the defendant for causing the injuries to the victim and to deter others from engaging in similar behavior. Punitive damages are generally awarded when the defendant's conduct has been especially egregious or outrageous. Punitive damages are not awarded in all personal injury cases and cannot be considered unless compensation for damages has been ordered. To avoid compensation for excessive punitive damages, courts often limit punitive damages to less than ten times the amount of compensatory damages.
Recipients of large personal injury compensation may choose to receive compensation in the form of a structured agreement. Structured agreements serve as an alternative to compensation for lump-sum damages. Structured settlements disburse compensation for harm to the victim on a monthly or annual basis for a specified period of time. Choosing a structured settlement has many benefits, such as lower federal and state income taxes and a greater chance that the defendant will get his money back.
Because each victim's financial needs are different, those considering a structured settlement should first consult an attorney and financial planning professional. Personal injury cases based on negligence can award both economic and non-economic damages, but punitive damages are only awarded if a criminal offence has occurred. If someone committed a crime against you and caused your injuries, you can sue the author for the damages and collect accordingly. Economic damages are awarded to victims to recover the financial losses associated with their injuries.
These damages are intended to alleviate some or all of the plaintiff's financial burden. Damages are calculated based on the fair market price at the time the incident occurred. It is not easy to assign a monetary value to non-economic damages, since they can encompass general pain and suffering. These damages are less tangible compared to economic damages.
General damages include future losses, which will be incurred due to loss of income and any future medical care that may be needed in the future. Insurance companies generally find it easier to grant economic damages because they are specific. For example, it's easier to document medical bills because their costs are shown in receipts, invoices, and market prices of equipment. However, non-economic damages are difficult to assess, since people don't measure pain and loss with money.
Punitive damages are awarded to punish the accused for criminal conduct. Punishment is intended to prevent others from engaging in the same behavior. Punitive damages are rarely awarded in Florida. For punitive damages to be awarded, the defendant's conduct must have been malicious or reckless.
After an accident, you can suffer physical, emotional, and financial losses. These can include unexpected medical bills, weeks or even months of lost wages, and intangible damage, such as emotional distress. If someone else is responsible for your accident, you may be entitled to compensation for these losses, also known as “damages”. Negligence occurs when one person fails to act with reasonable care, which then causes an injury to another person.
In personal injury cases, the loss of damages from the consortium is generally related to the impact that the injuries have on the plaintiff's relationship with his spouse, the loss of companionship, or the inability to maintain a sexual relationship, for example. Some states consider emotional distress as part of any pain and suffering damages awarded to a personal injury plaintiff. Most personal injury damages are classified as compensatory, meaning that they are intended to compensate the injured plaintiff for what he lost due to the accident or injury. And, in the rare event that a personal injury lawsuit goes to trial, a judge or jury can order compensation for damages.
That's because most states adhere to a standard of comparative negligence that links damages to the degree of fault in a personal injury case. Many accidents cause property damage, including motor vehicles, bicycles, motorcycles, and personal items that you carry with and on you during the accident. Your Dallas personal injury lawyer will analyze the difference between your previous compensation, career path, benefits, and promotion potential compared to your current state to negotiate an appropriate dollar amount for your loss of earning capacity. Punitive damages: The second type of recoverable damages in personal injury litigation are punitive damages.
In a personal injury claim, you can get compensation for all medical expenses related to the accident, including past and future costs. Here's an overview of the different types of compensatory damages that are common in many personal injury cases. In some cases, the role of an injured person in causing an accident or their inaction after suffering an injury can decrease the amount of damages available in a personal injury case. But just to be clear, most personal injury cases are resolved out of court, often without a lawsuit being filed.