WHAT ARE Economic Damages?
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Economic damages represent the tangible, out-of-pocket losses you've incurred as a direct consequence of your injury. Economic damages are easy to calculate and prove with financial records, unlike non-economic damages such as pain and emotional distress. They reflect exact dollar amounts that serve as undeniable evidence of your financial burdens. Examples are as follows:
Medical Expenses
Any medical bills incurred due to your injury are recoverable, from emergency room visits to prolonged hospital stays. This encompasses:
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Ambulatory costs
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Surgical procedures
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Prescriptions and medications
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Diagnostics tests (e.g., X-rays, MRIs)
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Specialist consultations
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Long-term nursing or in-home care
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Physical Therapy
Rehabilitative services are crucial in some recovery processes. We can help you claim for:
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Physical therapy sessions
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Occupational therapy
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Any additional rehabilitation programs.
Household Services and Modifications
If your injury means you need assistance with housework or changes to your home for easier access, these expenses are also recoverable. These can include:
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Cleaning services
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Lawn maintenance
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Home modifications like ramps, stairlifts, or bathroom adjustments
People often forget about the transportation costs related to medical care. We’ll factor in:
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Mileage
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Parking
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Public transportation costs
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Any necessary accommodations near treatment centers
Lost Wages and Earnings
You can claim any lost earnings from work you missed as economic damages. While recovering, you might be unable to work. This includes:
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Salary
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Wages
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Bonuses or commissions missed
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Use of vacation or sick days
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Moreover, if your injury results in reduced ability to earn the same income as before, this loss in earnings is an essential part of your claim.
commonly asked questions
What is the Collateral Source Rule?
The collateral source rule or doctrine as it is sometimes referred to, ensures that an injury victim is not unfairly punished for having health insurance or other benefits. That means if you have already received compensation from a third-party source for medical bills or time missed from work, this evidence will not be provided to the jury when determining your damages award. The collateral source rule will prevent a jury from hearing any testimony or evidence of compensation you received from third-parties for your injuries.
economic damages
FAQs
Who is liable in a Sexual Assault Case?
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What are my rights following a rideshare accident?
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How long do I have to file a claim?
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What are Non-Economic Damages?
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What is a Catastrophic Injury?
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additional locations
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Fort Lauderdale Aviation Accident Lawyer Near Me
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Palm Beach Personal Injury Lawyer Near Me
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what are compensatory damages?
These are the funds you get to cover the actual costs of an injury or loss. Think of compensatory damages as the amount meant to "make you whole" again. They include:
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Economic Damages: Medical bills, lost wages, and repair costs.
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Non-Economic Damages: Valuable things without a fixed price, like pain, suffering, emotional distress, or losing a loved one.
How are Economic Damages Calculated?
Our dedicated team approaches the calculation of economic damages with a meticulous and methodical process that includes:
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Detailed Assessment of Economic Losses: We meticulously gather and analyze all receipts, medical bills, and statements to ensure we account for every penny you are owed in damages.
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Expert Analysis of Future Damages: Often serious injuries can lead to significant future costs, such as future medical care expenses, loss of ability to earn money, and ongoing rehabilitation costs. Testimony and analysis from leading experts in the field of can ensure you get maximum compensation for life-long injuries.
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Comprehensive Evaluation: Oftentimes people sitting on a jury can be skeptical of claims for economic damages, especially when they are not backed up by hard data and facts. Our team of dedicated injury lawyers not only gathers the evidence demonstrating your economic damages, but presents it to the jury in a clear and user-friendly fashion. This assures you are awarded every penny you are entitled to in economic damages.
The G Law Group can help you
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At The G Law Group, we carefully calculate all your losses in order to be certain that you have the best opportunity to obtain maximum compensation for your injury. With our skillful injury advocates, securing the maximum economic damages for your claim is paramount.
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Contact us today for a comprehensive evaluation of your case.