Financial losses are sure to follow an accident. If you've been hurt in an accident that was not your fault, you may be soon seeking compensation from the other driver's insurance carrier. You are entitled to what is called economic damages after a wreck, so read on to find out what this means.
What Is Included in Economic Damages?
It's not just about a loss of cash – it's about every way the accident impacts your wallet. You should not have to suffer from any economic impact without being reimbursed after a wreck where the other driver is liable. When you list and add up all of your damages, that figure comprises part of what you will be asking to be paid by the other side. It might be provided to you in a settlement, or you might have to take the other driver to court and be paid after a court judgment. Economic damages are aligned with specific monetary figures, and you should be reimbursed to the penny for all of the below.
Common Economic Damages
- Medical expenses – You are entitled to coverage of all medical treatments after the accident, from the ambulance ride to hospital stays, surgeries, and physical therapy. Unfortunately, medical facilities are extremely aggressive in collecting past-due payments, and depending on the other driver's insurance may not be enough to keep your bills from being sent to collections.
- Future medical expenses – For serious injuries, you may want to settle your case before you complete your medical treatment. Speak to a personal injury lawyer about seeking payment for future medical expenses that occur after you've already signed an accident release. A combination of expert medical advice and economic advice is used to determine your future medical needs.
- Lost wages – If you missed work, and most accident victims do, you are entitled to be reimbursed for that time. Even if you were fortunate enough to have paid time off available to use, you should be paid back for that time. You will need to provide some proof of your pay to your lawyer.
- Personal property – This category includes any property lost due to the wreck, such as tech gear, clothing, and child car seats. Your wrecked vehicle also falls into the economic losses category.
One way to be sure that you are paid for losses after a wreck is to have your accident case evaluated by an auto accident lawyer.
