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Villarreal & Begum March 31, 2021

What Are Economic Damages?

economic damages

If you were the victim of a car crash in Texas, chances are you are suffering a significant financial burden. To recover your damages, often the best way to get compensated is to find a personal injury lawyer and file a claim. Even if you were injured in a slip and fall, or a work accident, you should reach out to an experienced attorney. As a victim, you have a right to be compensated. Part of that compensation is your economic damages. But what are economic damages, and what do they have to do with your personal injury case?

Economic Damages.

Simply put, economic damages are monetary losses you have suffered as a result of an incident involving someone else’s negligence. For example, you slip and fell because a store owner had wet floors and took insufficient measures to warn you.  If the fall was serious, you could be suffering from several injuries. These injuries need to be treated, and medical bills can get expensive. On top of this, you might not be able to work. These are examples of economic damages.  The award of economic damages in a personal injury suit is meant to make the victim financially “whole.” Meaning that economic damages get the victim compensation for the actual expenses they face as the result of someone’s negligence.

Economic damages can take on many forms. Another common example is car crashes. Victims of car crashes can be awarded for property loss. The cost of preparing or replacing your car or other property can be awarded to a victim. Sometimes, victims become disabled as a result of an accident.  If this is the case, lifestyle adjustments have to be made. The cost of modifying your house or car is also recoverable.

Physical damages can permanently affect someone’s life. The law recognizes this and allows people to claim a loss in earning capacity. If your injury is preventing you from returning to work in the same capacity as before, you might be able to claim damages for lost earning capacity or future income. Your age health, skills, training, and more are taken into consideration for this. A skilled personal injury attorney will be able to help you claim your loss of income and figure out the proper amount you are due.

 

Texas CAR CRASH LAWYER.

Have you or a loved one been in a serious car crash and suffered injuries? If so, you should contact an experienced Personal Injury attorney. Villarreal and Begum is a local San Antonio firm that will fight to get you the compensation that you deserve. We serve clients across Texas with offices in San Antonio, Austin, McAllen, and Laredo. We are available day and night to take your calls. Call or contact us via our website. The Law Guns will fight for you.