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Types of compensation after an accident

On Behalf of | Feb 2, 2022 | Motor Vehicle Accidents

After a car accident, a victim can find themselves quickly amassing a lot of expenses because of someone else’s actions. An accident involving medical attention can cost several thousand dollars or more, which the victim may not be able to cover on their own. When the costs of an accident can be so high, a compensation claim is often necessary to make ends meet. When pursuing your claim, it is important to know the three types of damages you may receive for your injuries:

Economic damages

This may be the easiest category to determine a fair value for, as these damages are meant to compensate a victim for the financial toll of their injuries. Current and future medical expenses, property damage, and lost income are only a few examples of costs that come with a price tag.

Non-economic damages

Some consequences of an accident cannot be measured in numbers. There are plenty of ways an accident can cause someone harm in emotional ways. Paralysis or other consequences of an accident can mean a victim does not experience a parent-child dance at their child’s wedding, never being able to participate in lifelong hobbies again and even cause their marriage to suffer irreparable damage. The liable party of an accident should also be liable for these consequences, and financial compensation can be the best way to hold them accountable.

Punitive damages

It is not enough for someone to cover the costs of their consequences; they also need to be subject to punishment for their actions in the first place. This is where punitive damages come in. This form of compensation acts as a financial punishment for a person’s reckless or negligent actions by having them pay their victim additional compensation during a claim.

Make sure you get the compensation you deserve

Even when someone else is clearly at fault for your injuries, there is no guarantee that you will receive the settlement you need. If you are looking to maximize the compensation you get from your injury claim after an accident, let an experienced personal injury attorney help you. Their guidance can make the difference in whether you receive the full possible values for each of the three areas of damages after an accident.