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What Types Of Compensation Are Available Following A Car Crash?

Car Accident Lawyer

Following a car crash of any magnitude can be a scary and stressful event. Even a minor fender bender will take you out of the moment. Dealing with a car crash that results in significant injuries leaves many wondering how they will recover. While there’s no way to turn back time and prevent the car accident from ever happening in the first place, it’s still possible to receive the proper compensation. 

What many victims don’t understand, however, is that different types of compensation exist which can help deal with current and future expenses—including recovering from temporary and permanent traumas. This quick guide will explore the three types of compensation available following a car crash and what they can cover. 

What are Economic Damages? 

The first type of compensation many people think of is economic damages. Economic damages refer to monetary losses of items that can more easily be calculated. These items typically carry an exact monetary value and often have specific documentation that can prove their monetary value. Prime examples include: 

  • Current and future medical expenses—including physical therapy, doctor visits, medications, at-home care, etc
  • Property damages, such as the cost to repair or replace your vehicle following a car crash
  • The loss of wages if the accident renders you unable to work or work as much for a while
  • Reduced or a total loss of earning power
  • Out-of-pocket expenses
  • In the case of wrongful death, compensation for funeral costs
  • Court and attorney fees

What are Non-Economic Damages? 

Non-economic damages refer to damages that are harder to calculate and often carry a subjective quality to them. For example, economic damages may cover the exact cost of a person’s medical treatment, while non-economic damages may cover how the car crash impacts the person’s emotional state. Standard examples of non-economic damages include the following: 

  • Pain and suffering 
  • Emotional distress, including the development of conditions like post-traumatic stress disorder (PTSD)
  • A loss of reputation 
  • Difficulty maintaining relationships 
  • Disabilities or disfigurements—temporary or permanent 
  • Overall reduction in quality of life 
  • Reduction in sexual functions 

What are Punitive Damages? 

While economic and non-economic damages are meant to make a victim feel “whole,” punitive damages are a way to punish the defendant. They may even be used to make an example of them or their actions to deter actions from similar parties. Punitive damages are far rarer than economic or non-economic damages, but a car accident attorney can determine if your case qualifies for punitive damages. 

Why Hire a Car Accident Attorney? 

Many insurance companies try to settle with victims before they seek legal assistance. The reason for this is that they know they can offer a lower settlement to victims when they don’t have a lawyer on their side. Having an attorney means you gain a better chance of receiving a higher settlement that can cover current and future expenses. When you need a car accident lawyer in Orlando, FL, our friends at David & Philpot, P.L. can assist! 

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