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”. In cases where the defendant's conduct is considered particularly egregious or extremely negligent, the personal injury plaintiff may be awarded punitive compensation in addition to any compensation for compensatory damages.
Usually related to more serious accidents, emotional distress damages are intended to compensate the personal injury plaintiff for the psychological impact of an injury, including fear, anxiety, and loss of sleep. Your Dallas personal injury lawyer can also ask economists and life care planners to estimate your long-term medical expenses as needed. Getting compensation for your injury claim Knowing the differences between compensatory and punitive damages is a necessity when it comes to legally seeking reimbursement for injuries caused by another person or party. Personal injury compensation almost always includes the cost of medical care related to the accident, reimbursement for treatment you have already received, and compensation for the estimated cost of medical care you will need in the future because of the accident.
Whether you intend to file a claim against the at-fault party's insurance company or are thinking of hiring a Dallas personal injury lawyer to file a lawsuit, it's important to understand what damages you qualify for. 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. Since it's not unusual for punitive damage awards to exceed tens of millions of dollars, most states have set some type of limit on compensation for punitive damages in personal injury cases. And, in the rare event that a personal injury lawsuit goes to trial, a judge or jury can order compensation for damages.
Some states consider emotional distress as part of any pain and suffering damages awarded to a personal injury plaintiff. In the few states that follow the concept of contributory negligence in personal injury lawsuits, you may not be able to recover any compensation if you are found to be partially at fault for the accident. However, a Dallas personal injury lawyer will understand the formulas and evidence needed to prove your right to these damages. 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.