Economic Damages

Economic damages in personal injury claims in Texas are more than simply medical expenses. Here are some of the economic losses that qualify:

• Past And Future Medical Bills

Any medical expenses you incur are considered economic losses. Your doctor’s and emergency bills are certainly important, but there are several sorts of medical charges that qualify as economic damages, including:

• Emergency room bills
• Urgent care bills
• Follow-up doctor visits
• Physical therapy
• Diagnostic tests
• X-rays
• Blood tests
• Physical therapy aids
• Mobility aids like crutches, braces, and wheelchairs
• Occupational therapy
• Travel costs to medical appointments
• Prescription costs

Even over-the-counter medical expenses can be considered medical economic damage.

• Mental Health Treatment Costs

The cost of mental health treatment is considered in determining your economic damage compensation. Psychological health problems are genuine injuries that occur as a consequence of road accident injuries. Your associated expenses for treating PTSD, depression, anxiety, or another mental health wound are included in your economic losses.

• Past Lost Wages

The actual, tangible, and continuing lost income you suffer as a result of your injuries is known as lost wages. Your economic losses include the genuine revenue you would have earned for a month if you did not work owing to your injury.

If you receive tips or bonuses, this is taken care of. Past lost pay should be able to be calculated into a fixed dollar amount. Your missed earnings are the sum of money that you did not earn between the time your injury occurred and when your case is resolved.

• Future Lost Earning Capacity

Of course, if you are unable to work as a result of an accident, you may be out of work for months or even years. You might possibly be unable to work indefinitely. Economic loss is considered in terms of what you will miss out on in the future.

If your income drops, you may deduct the difference. You might miss out on chances to develop in your current line of work or make less money than expected as a result of this. An occupational expert should be consulted to compute economic losses of this sort.

• Property Damages

Your property damages are included in your economic losses whether you have damage to a car or any other tangible thing you own. You may determine the value of your losses by considering the cost to repair the item. If the item is irreplaceable, you may use the fair market value or the replacement cost to calculate your loss. Property losses are one type of economic damage.

• Household Services

When you suffer significant injuries in a car accident, you may require more assistance with the activities that you previously accomplished. You may need assistance with household chores, maintaining the yard, driving your kids to their sports practices, or giving regular care for dependent family members. If you have to hire outside services instead of performing these activities yourself, your economic damages might include the cost of these external expenditures.

Economic Damages May Be Now Or In The Future

Many of your economic losses are immediate. You can get receipts for the bills and expenditures you incurred right after the accident. In the weeks and months immediately following your accident, you may tally medical expenses, lost income, and property repair costs.

In the future, additional economic damages are likely. Because of a personal injury event, your career path may be altered. You could have medical costs for the rest of your life. At the time you assess your injury claim, you might not know precisely what these losses are worth.

Even though you may not have a specific figure for these sorts of losses right now, they are still considered your economic damages. For the purpose of bringing your claim, you might require the help of an expert or experts. But, in addition to economic losses, these expenses might include both past and future losses. Your anticipated future losses may be considerably larger than your existing ones on occasion, so it’s critical to account for them when calculating the worth of your claim.

Is There An Upper Ceiling To The Economic Damages You May Seek In A Personal Injury Case?

There is no such thing as a cap to the economic losses that you may receive in a personal injuries case. While pain and suffering are sometimes restricted, you may pursue the full value of your economic losses. It’s critical to double-check all of the types of damages covered by your claim.

Our Attorneys Can Help You Value Economic Damages

Do you have any concerns about the value of your injury case? Are you unsure if medical expenses qualify as economic damages? We can assist. 

Call us at (888) 997-2148 now for you free consultation.

We take cases on a contingency fee basis and there are no costs unless we win, and the consultation is completely FREE. Contact us to learn what Texas Personal Injury Lawyers can accomplish for you.