Damages

In litigation cases, there will be many discussions about the game-plan for your case. One of the most important conversations you will have is deciding what type and in what amount of damages you will be requesting from the court. Ultimately, if you are successful, you could possibly receive a lump sum from a judgment, but compensation is actually broken down into three different types and are important to understand.

Economic Losses

This type of compensation is to relive your financial burden and are awarded to victims to recover for injuries caused from the damage. Typically, the amount awarded is based on the fair market amount at date of the damage. Economic losses could include:

• Lost income
• Medical costs
• Repairs or replacement of damaged property
• Reduced earning capacity
• Funeral costs

Non-Economic Losses

This type of compensation is harder to calculate as it is intangible such as pain and suffering. Non-economic losses could include:

• Physical pain and suffering
• Mental anguish
• Loss of reputation
• Loss of life

These types of damages can fluctuate depending on age, income, health, and other factors when trying to calculate, which again makes things tougher to calculate.

Punitive Damages

Lastly, this type of compensation can be awarded when the actions of the opposing party were found to be reckless, malicious, or wonton. As these types of actions go beyond compensation and try to serve as a means of discouraging irresponsible behavior. This is more of a punishment type of damage and where you would see attorneys fees being granted. Depending on the strategy, you may be able to recover the above types of damages. If you believe you are entitled to any of these damages, please reach out to an attorney at our office to schedule a consultation to discuss your litigation strategy.