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Types of accident compensation

On Behalf of | Apr 21, 2022 | Auto Accidents

Filing for accident compensation comes with a lot of decisions about your claim. The primary decision is whether you should accept a settlement offer, which can be hard if you do not know what your claim is worth. Medical costs alone in an accident can cost you thousands of dollars or more, so how can you be sure what your claim is worth? There are three primary types of compensation that you can consider with your attorney in your claim, which are:

Economic damages

This type of compensation is often the easiest to calculate, as it is simply the sum of all of the financial costs you suffered as a result of your accident. Common expenses for this include current and future surgeries and treatments, physical and emotional therapy, lost income, and property damage.

Non-economic damage

This form of compensation is for emotional suffering and losses that cannot be measured in money. Examples of this compensation include loss of relationships because of the accident, losing the ability to enjoy old hobbies or passions, and pain and suffering.

Punitive damages

The party that is liable for your injuries paying for the consequences of their actions is the bare minimum of the consequences they should experience. Thankfully, punitive damages act as a way of punishing liable parties while also sending a message about the consequences of reckless or negligent actions.

Get the compensation you deserve

You deserve more compensation than just the first medical expenses you suffered for your injuries. If you suffered a personal injury because of someone else’s actions, consult with your attorney before accepting any kind of compensation or settlement offer. They can help you review the areas of damages that you have experienced and negotiate to receive a fair value for your compensation claim.