If another party causes you harm, you may suffer physical injuries and emotional distress. These losses are referred to as non-economic damages. However, you may also incur substantial financial losses, which are known as economic damages.
The courts in Georgia cannot undo the terrible wrong you have experienced due to another party’s actions. However, Georgia personal injury laws allow injured parties to seek compensation for damages. This article discusses economic damages and how much they could be worth in a personal injury case.
What Are Economic Damages in a Georgia Personal Injury Case?
Economic damages are the tangible losses a victim incurs from an accident or other personal injury.
They represent monetary losses and expenses associated with your injuries, the accident, and your recovery.
Examples of economic damages include:
Medical Bills and Expenses
Accident victims can incur various types of medical bills and costs, including:
- Emergency medical services
- Hospitalizations
- Urgent care facilities
- Physician and doctor bills
- Diagnostic tests and lab work
- Specialists
- Occupational, physical, and other rehabilitative therapy
- Surgeries
After an accident, you need to seek immediate medical treatment for your injuries, regardless of their severity. Prompt medical care gives you a better chance of making a full recovery. It also decreases the chance of complications and permanent impairments.
However, prompt medical attention also helps your personal injury case. You must link your injuries to the accident to recover compensation for damages. Delays in your care could raise questions and doubts about the severity of or the cause of your injuries.
Loss of Earnings and Wages
If you cannot work after an accident or injury, you can claim your lost wages and earnings as damages.
Loss of earnings include, but are not limited to:
- Hourly wages
- Salaries
- Overtime pay
- Gig work and freelance income
- Tips
- Commissions and bonuses
- Income as an independent contractor
You may also be entitled to compensation for sick or vacation time you used while recovering from your injuries and benefits you would’ve earned had you been able to work (e.g., matching retirement funds, paid time off, etc.).
Property Damage
Property damage claims are generally settled early in a personal injury case. For example, you may settle the property damage portion of your car accident claim while continuing treatment for your physical injuries.
Never sign a release or waiver of a property damage claim without reading the entire document. You must ensure that you’re not signing something that releases other claims, such as your personal injury case. Additionally, make sure that the insurance company doesn’t sneak in a statement that you accept a portion of the blame for causing the accident.
Out-of-Pocket Expenses
Out-of-pocket expenses are often overlooked in a personal injury case when a person doesn’t consult an attorney.
These costs could include:
- The cost of household services or child care if your injuries prevent you from performing these activities
- Mileage and travel expenses to and from doctor appointments
- Over-the-counter and prescription medications
- Medical supplies and devices, such as bandages, crutches, bedside toilets, wheelchairs, etc.
- The cost of personal care and assistance with activities of daily living
You should document your out-of-pocket costs carefully. Keep detailed records of each expense, including the date and amount. You should also have copies of receipts, bills, and invoices proving the amount of each expense. Your attorney may need to work with your doctors to “prove” that the expenses were necessary based on the extent of your injuries.
Future Financial Losses and Expenses
If you sustain permanent disabilities or impairments, you may be entitled to future economic damages.
These damages include, but are not limited to:
- Future lost wages and reductions in earning capacity
- Ongoing medical treatment
- Long-term nursing and/or personal care
- Modifications to your home or vehicle to accommodate a disability or impairment
Proving future damages can be challenging. Your attorney may hire one or more experts to assist with your case. Expert witnesses may include medical specialists, vocational experts, financial professionals, and life-care professionals.
How Much Are My Economic Damages Worth?
Your economic damages are the actual amount of your financial losses and expenses. Detailed records are essential to ensure that all amounts are included in the final total.
However, other factors can impact the value of damages in your case.
Factors that could affect how much you receive in a personal injury settlement in Georgia include:
- The severity and type of your injuries and impairments
- The parties involved in the case
- Whether you could be partly to blame for causing your injury under Georgia’s comparative fault law
- The availability of insurance coverage and the policy limits
- The strength of the evidence proving your claim
Comparative negligence can be a significant factor in a personal injury case. If you are partially at fault for causing your injuries, the court can reduce the amount of your damages by your percentage of responsibility.
Before you talk with an insurance adjuster or sign any forms, contact our attorneys at (912) 335-1909 for a free consultation. Our Savannah personal injury lawyers will review your case and explain your legal rights to help you protect your best interests.
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