Mastering the Calculation of Damages in Personal Injury Cases
When someone suffers an injury due to another party’s negligence, they have the right to seek compensation for their losses. This compensation, known as damages, aims to restore the injured party as much as possible to their pre-accident condition. Courts and insurance companies consider various factors when calculating damages, making it crucial for victims to understand how these calculations work. Damages in personal injury cases fall into two categories: compensatory and punitive. Compensatory damages are designed to reimburse the injured party for their losses, while punitive damages serve as a penalty for particularly egregious conduct. Since every case is unique, the amount awarded depends on the evidence presented, the severity of the injury, and the long-term impact on the victim’s life. Economic Damages: Tangible Losses with Clear Value Economic damages represent financial losses that can be quantified. These include medical expenses, lost wages, and property damage. Because...