In personal injury lawsuits, there are three damages: punitive, economic, and non-economic. Other terminology for economic and non-economic losses are special and general damages.
Negligence-based personal injury claims may result in monetary awards for economic and non-economic losses; however, punitive damages are only permissible under specific circumstances.
Understanding the different types of damages is crucial for obtaining the appropriate compensation in a personal injury claim.
Economic Damages
Victims of injuries receive economic damages to make up for their monetary losses. The harmed party will have less financial strain thanks to this compensation. The amounts are computed based on the fair market value when the occurrence happened.
Possible financial losses include:
- Income loss
- Diminished ability to earn
- Medical expenses
- Costs associated with rehabilitation
- Cost of managing a disability Property replacement or repair
- Funeral expenditures when a loved one passes away
- Costs of personal care
- Additional cash outlays
Punitive Damages
Punitive damages are awarded for a defendant’s reckless, malicious, or wanton actions, going beyond compensation to discourage irresponsible behavior.
They are only occasionally available in Florida and must be intentional or reckless.
For example, a drunk driver could be awarded punitive damages for disregard for others.
How Are Punitive Damages Calculated?
The court determines Punitive damages based on factors such as the defendant’s misconduct and its impact without set rules or formulas.
Severity of Misconduct: The severity of the defendant’s misconduct determines the punitive damages.
Harm Caused: The harm or distress inflicted on the plaintiff can significantly influence the punitive damages.
Defendant’s Financial Status: The defendant’s wealth can be considered to ensure the penalty is significant enough to deter future misconduct.
Mitigating Factors: Defendants’ attempts to rectify their behavior or lack of previous misconduct may reduce the number of punitive damages.
Comparative Case Law: Courts may reference past cases with similar circumstances to guide the calculation of punitive damages.
Legal representation is critical due to these calculations’ complexity and subjective nature.
Non-Economic Damages: Non-economic losses, such as physical pain, mental anguish, loss of companionship, consortium, enjoyment of life, and reputation, are less tangible than economic losses.
Factors like the victim’s age, work, income, and injury extent influence these losses.
Insurance companies often award money for economic losses, as they are easier to prove in court. Intangible losses are more challenging to quantify.
Compensatory Damages
The goal of compensatory damages is to put the sufferer back in the same situation as if the injury had never happened. Compensatory damages aim to provide a monetary value for the victim’s injuries to aid in their physical, mental, and financial rehabilitation.
Compensatory damages are those that compensate victims for both monetary and non-monetary losses.
When Should I Contact a Personal Injury Lawyer?
Personal injury can occur in various scenarios, including pedestrian, truck, product defects, car, and motorcycle. Severe injuries can cause severe damage, requiring long recoveries or ongoing medical treatment.
It’s important to discuss your case with an attorney specializing in personal injury law services to seek financial compensation to cover expenses.
