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What Are Economic Damages?

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When you’re hurt, it can be tough to recover from your injuries and deal with the aftermath of your accident. Someone else may have caused the accident, but you’re the one stuck dealing with the aftermath. Unfortunately, that can be tough on you financially. 

As a South Carolina injury victim, you may have grounds for a lawsuit, but you need to know what damages you’re due before you make any decisions. Talk to your personal injury lawyer about your injuries and what damages you’re due before you take your claim to court. 

Economic Damages, Defined

After a serious injury, you may hear the word “damages” thrown around when discussing your claim. But what does that mean for you? 

Damages are the losses, suffering, and trauma you’ve suffered, which the at-fault party should compensate you for. These damages can be economic or non-economic, but they should all work to cover the costs of your injuries when someone is negligent with your safety. 

Your economic damages specifically cover the financial costs of your accident. For example, you may have hospital bills, lost income, property damage, and other expenses related to your accident. You shouldn’t have to pay for these damages—you should be able to seek compensation for the financial suffering you experienced. 

How Do I Calculate Economic Damages?

When you’re hurt in an accident, you may be due compensation for your economic damages. The problem is, you may not have the tools or information you need to calculate these damages correctly. It’s easy to make a mistake, and if you do make a mistake, you may lose part or all the compensation you’re due. 

For example, let’s say you suffered a traumatic brain injury. These injuries can impact many facets of your life, and they can be costly in ways you didn’t expect. For example, you may need surgery or rehab to recover from your brain injury, and these treatments can be expensive. But what about the costs of your time away from work, or the accommodations you now need for your home? 

Determining your claim’s worth can be difficult, especially if you’re overwhelmed by the many damages you’ve accrued. Luckily, your lawyer can help you determine what your claim is worth. 

Legal Factors Can Impact Your Claim 

But getting coverage for your economic damages isn’t as simple as adding up the costs of your losses. You may also need to act now to get compensated without getting your compensation reduced. 

In South Carolina, your compensation may be reduced if you’re found partly at fault for the accident. For example, if you were struck by a car while crossing the street, you may lose part of your compensation if you were texting while you were walking. A situation like this could leave you with little or even no compensation for your recovery. 

But you have a chance to defend your claim and get compensated for your damages. Reach out to a lawyer about getting your total compensation, not just a part of it. 

Contact a Lawyer to Get Your Damages Covered 

When you’re hurt in a serious accident, it can get expensive quickly. You may have costs that make it difficult for you to think about anything else. Unfortunately, you may not have the tools to determine what those costs are worth and what compensation you should seek. 

But your lawyer at The Louthian Firm Accident & Injury Lawyers does have those tools, and we’re ready to help you recover. When you’re hurt in a serious accident, reach out for a free consultation with a lawyer to get an accurate idea of the damages you’re due when you’re hurt by someone’s carelessness. To take advantage of our free consultations, call 803-592-6231 or fill out the online contact form below. 

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