You can incur substantial financial losses when you are injured in an accident or other personal injury incident, such as a car accident or slip and fall. These losses are referred to as economic damages.
The payment of damages is the remedy offered by the court to make a party “whole” again after an accident or personal injury. Louisiana tort laws hold the at-fault party responsible for your damages.
Economic damages include any amount you lose or expenses you incur because of the accident, injury, or recovery. Common types of economic damages in a Lake Charles personal injury case Include:
Medical Expenses
Your medical expenses include all medical bills and costs related to treating injuries. Examples of medical expenses include, but are not limited to:
- Ambulance bills
- Emergency room visits
- Hospitalizations
- Surgeries
- Physicians’ bills
- Radiological bills
- Rehabilitative therapies, including physical and occupational therapies
- In-home nursing care
It is crucial that you seek medical care for your injuries as soon as possible after an accident or personal injury. Delays in medical treatment could raise issues related to failure to mitigate damages. The insurance company might allege that your injuries and damages worsened because you delayed medical care.
Failing to seek medical treatment could also result in allegations that the accident did not cause your injuries. The insurance provider might claim that you were not injured in the accident and only later decided to file a claim because you wanted a settlement. Prompt medical treatment after an injury helps quash these allegations in a personal injury case.
The at-fault party’s insurance company does not pay your medical bills directly. Instead, they are included as part of your personal injury settlement. If you have health insurance or Med Pay insurance, you might be able to submit your bills to your insurance provider. If not, talk with our lawyers about the possibility of a medical lien if you are struggling to pay medical bills after an accident or injury.
Loss of Income
If you cannot work because of the injury, you could receive compensation for your lost wages and other income. Examples of loss of income include, but are not limited to:
- Wages
- Overtime pay
- Salary
- Commissions
- Bonuses
- Paid time off
- Self-employment income
- Income from a part-time job
- Freelance income
You have the burden of proving how much income you lost because of the injuries. Our legal team uses your medical records and statements from your physicians to document that you could not work. Then, we gather income records to calculate how much you could have received had you not been injured.
Out-of-Pocket Expenses
This category is a catchall category for expenses that do not fall under medical bills or lost wages. Out-of-pocket expenses for a personal injury case include, but are not limited to:
- Over-the-counter medications and prescription drugs
- Personal care, including helping with dressing, bathing, and feeding
- Help with household chores and childcare
- Medical supplies and equipment, including bandages, crutches, wheelchairs, bedside toilets, braces, and more.
- Travel expenses to and from medical appointments
- Modifications to your vehicle and home because of a permanent impairment
Out-of-pocket costs are often overlooked in personal injury cases. However, these expenses could total thousands of dollars.
The best way to ensure you do not overlook expenses is to create a system for tracking costs. You will need proof of the costs, such as bills, invoices, and receipts. You must also have proof of payment.
Keeping all the information in a folder with a written record of dates, amounts, and reasons for expenses can help your attorney maximize the amount of your personal injury settlement.
How Much Are My Economic Damages Worth?
Typically, the value of economic damages is the total of all financial losses. You have the burden of proving you incurred the expenses or financial losses and that the amounts are reasonable and necessary. Our legal team works closely with you to gather the information necessary to prove economic damages.
Calculating the value of your claim can be challenging if you sustained permanent impairments or disabilities because you could be entitled to future damages. Future damages are anticipated losses you are expected to incur because of a disability or impairment caused by the accident.
Future economic damages can include, but are not limited to:
- Ongoing medical treatment and care
- Personal care and household services
- Long-term skilled nursing care
- Diminished earning capacity
Calculating how much you could lose in the future can be difficult. Our legal team works closely with leading expert witnesses to calculate the value of future damages, including vocational experts, medical specialists, and financial professionals.
How Does Contributory Fault Impact a Claim for Economic Damages in Louisiana?
Louisiana uses a pure contributory fault standard to assign damages in a personal injury case. Therefore, being partially to blame for causing your injury does not bar you from receiving money for your damages.
However, your damages are reduced by your percentage of fault. Therefore, if a jury finds you are 25% to blame for causing a truck accident, you could only receive up to 75% of your damages.
There is an exception to this rule. If another party intentionally causes your injury, contributory fault might not apply in your case.
Does Louisiana Put Caps on Economic Damages in a Personal Injury Case?
Generally, there is no cap on how much money you can receive for a personal injury case. However, Louisiana does have caps on cases against government agencies and for medical malpractice. In both cases, damages are capped at $500,000.
In most medical malpractice cases, you receive the first $100,000 from the medical provider and the remaining amount of up to $400,000 from the Patient Compensation Fund.
What Is the Statute of Limitations for Filing Claims for Economic Damages?
Your economic damages are included in your personal injury claim. Therefore, the statute for filing these claims is two years from the date of injury. The two-year deadline applies in most personal injury cases, but some exceptions could change the deadline.
Judges can dismiss lawsuits filed after the statute of limitations expires. Therefore, we strongly urge you to contact our office as soon as possible for a free case review from a Lake Charles personal injury lawyer.
Call Now for a Free Consultation With Our Lake Charles Personal Injury Lawyers
The financial impact of an accident or personal injury can be devastating. You deserve compensation for all your losses. Contact our law firm at (337) 888-4253 to schedule a free case evaluation with a Lake Charles personal injury attorney.
