Economic damages cover the measurable financial losses you suffer after an accident. From medical bills to lost wages, these damages are designed to restore the money you lost due to someone else’s negligence.
Economic Damages Include a Range of Expenses
Being in an accident can turn your life and your family’s life upside down in an instant. One day, you are living life normally, and the next, suddenly, you have more bills to pay than you can imagine. Here are some of the common expenses included under the economic damage umbrella:
- All medical bills related to the accident—doctor’s visits, tests, therapy, rehabilitation, prescription and over-the-counter medicine, equipment (like crutches), and transportation costs to get to treatment, among many others.
- All income you lost out on and will lose in the future because of your injuries are included—wages, tips, bonuses, all need to be included in the calculation of economic damages.
- Mental health expenses count as well—it’s not only your body that bears the brunt of an accident, but it can affect you psychologically and emotionally as well.
- Property damages—if your car was totaled or some other property was damaged, you can recover the cost to repair or replace it.
- Household services—costs of doing things around the house that you can no longer do, like cleaning, mowing the lawn, taking care of children, among other tasks.
Be sure to keep all receipts and invoices for your records. They will be an enormous help when calculating what you are owed.
