What Types of Economic Damages Can Be Recovered After an Accident?

What Types of Economic Damages Can Be Recovered After a Car Accident?

If you have been injured in a car accident, you may be wondering what types of economic damages you can recover. Economic damages are those that compensate you for your direct financial losses and expenses related to the accident both in the past as well as in the future. These losses can include medical expenses, property damage, lost wages, and more. Below, we will discuss the different types of economic damages that may be available to you after a car accident.

Medical Expenses

The most common economic damages that result from car accidents are the resulting medical expenses.  Medical expenses can include the cost of hospitalization, surgery, medications, physical therapy, and other medical treatment. If you have been left with a permanent injury or disability as a result of the accident, which can range from catastrophic injuries like paralysis or amputations to things like fractures, disc bulges, or herniations, you may also be able to recover the cost of future medical care. Ensuring that these future economic expenses are fully recovered is a key part of how the team at Redondo Law can help ensure you are fully compensated for all of your medical expenses.

Property Damage

In addition to direct medical expenses, property damage is another type of economic damage that is recoverable after a car accident.  These damages include things like the cost of repairing or replacing your car, as well as any other personal property that was damaged in the accident. This can also include things like your clothing, eyeglasses, and cell phone.  Finally, the cost of things like rental cars or alternative transportation while your vehicle is being repaired can also be recovered after an accident.

Lost Wages

The third major category of economic damages is lost wages, which can compensate you for the income you lost as a result of the accident. This includes wages from missed work as a result of your injuries or subsequent treatment, but also things like the use of sick days, paid time off, or other benefits used as a result of the accident that otherwise would have been available to you.  Finally, lost wage damages can also include monetary compensation for the loss of earnings capacity, which is any future earnings you may lose if your injury prevents you from returning to your previous job or earning the same amount of money over the course of your life.

How Redondo Law Can Help

While no amount of money can make up for the pain, suffering, and life changing effects of a car accident, it is important to understand what types of economic damages you may be able to recover. An experienced car accident lawyer, like those at Redondo Law, can help you to understand the types of economic damages that may be available to you and can assist you in pursuing a claim for these damages. If you have been injured in a car accident, contact an attorney at Redondo Law today for a free consultation!