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What are Economic Damages?


Economic damages are losses that have intrinsic monetary value. The two most common examples of economic damages sought in a personal injury case are medical expenses and lost wages.

When seeking medical expenses following a personal injury accident, you are entitled to reimbursement for procedures and services, including:

  • Doctor visits
  • Hospital stays
  • Emergency room treatment
  • Ambulance fees
  • Nursing services
  • Medication costs
  • MRIs, x-rays, and other scans
  • Surgery
  • Rehabilitation and physical therapy

Lost wages represent the amount of money you would have earned from the time of an injury to the date of settlement. You can also recover loss of earning capacity if you have sustained a long-term disability and will be unable to make as much money as you did before your accident as well as damages for lost opportunities such as an interview or promotion you missed out on while you were recovering.

Aside from basic wage calculations (how much direct pay you lost), you are also able to claim:

  • Money that reflects a promotion or wage increase provided you were due for a wage increase or promotion while out of work.
  • Loss of commissions on sales.
  • Bonuses that you were paid in the past and were on track to receive prior to your injury.
  • Loss of fringe benefits.
  • Loss of pension benefits.

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