Personal Injury Lawyer in Fort Lee >> FAQ - Economic Damages incurred in a Personal Injury

FAQ – Compensation in a Personal Injury Case

Economic Damages in a Personal Injury Case

What are Economic Damages?
Economic Damages (also called "pecuniary damages") refers to the compensation you can receive for the loss of money caused by the accident.
What are not included Economic Damages?
Non-monetary harm caused by your accident (e.g. pain and suffering) and punitive damages are not included in economic damages.
How many times can I receive an Economic Damages award for my personal injury case?
In personal injury cases, a successful plaintiff receives one economic damages award. In other words, you only get paid once for all of your money losses - both past and future.
What are Past Economic Damages, how are they calculated, and what are some examples?
Past economic damages refers to money losses you already have incurred at the time of the award. Because you have already incurred these costs at the time of the award, past economic damages are normally easy to calculate - usually by looking at your bills.
  • Some past economic damages examples:
    • Medical Bills
    • Lost Income
    • Money to repair your car
    • Towing costs
    • Rental car costs
What are Future Economic Damages, how are they calculated, and what are some examples?
Future economic damages refers to money losses you will incur in the future, after the award.
  • Because you haven't incurred these costs yet, future economic damages sometimes require calculation by an expert such as an economist. Some factors include:
    • Level of education
    • Age/Life expectancy
    • History of pay raises
    • History of earnings
    • Job Title
    • Retirement Age

  • Some future economic damages examples:
    • Future medical costs
    • Future nursing care costs
    • Future lost earnings/loss of earning capacity
    • Money to pay for household services that you are no longer capable of performing

The Fort Lee Law Offices of Jae Lee Law will ask the right questions to ensure that clients receive the proper compensation for the economic damages they have incurred. Contact our law firm today online or by telephone at 201 346-3800 to speak with an experienced Fort Lee attorney. Free Consultation, and we don't get paid until you do.

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