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What Are Economic Damages?

When you’re hurt in a serious accident, the costs of your injuries may be shocking. A serious accident can leave you struggling for years to overcome the debts you’ve incurred, possibly without the income to take care of yourself and your family.

What are economic damages, and how does calculating them help you with your financial situation? Your lawyer at Greenstein & Milbauer, LLP can help. If you’re hurt by someone else’s actions and you need compensation, speak with your NYC personal injury lawyer about your options.

Costs of Your Injury

When you’re hurt by someone’s negligence, you may be due compensation for your injuries. These financial costs, or economic damages, may take a toll on your mental health, leaving you anxious over your financial situation. These damages, unlike non-economic damages like pain and suffering, have a price tag attached to them.

These financial losses should include any costs that accrued because of your injuries. Check out the following damages you can include in your compensation:

Because these damages can be so expensive and cover a long period of time, you may need help calculating them. You may be overwhelmed, and if you suffered a serious injury, you may not have the time or energy needed to count up all your damages. Because of this, you may need a lawyer to help you recover compensation for your suffering.

Estimating Future Economic Damages

A long-term injury can create economic costs that may not happen right away. For example, you may be a few years away from a major surgery, or a long-term loss of earning capacity, all because of your injuries.

When you’re dealing with long-term economic damages, you may need help getting compensated fairly for these injuries. You may not have the tools needed to estimate these damages correctly. Luckily, your lawyer can help you add up your current expenses, estimate the decrease in your pay over time, and determine what your surgery may cost.

Get Compensated Fairly for Your Injuries

When you’re hurt in a serious accident, the financial losses may hit you quickly. You may have lost valuable property or your job or accumulated other costs that can impact your quality of life. Funds from a successful injury claim can help you improve your life and reduce the debts you may have because of your injury.

At Greenstein & Milbauer, LLP, we’re here to help you determine the fair cost of your financial losses. Our lawyers can provide you with the information you need and explain what we can do to help. Start with a call to 1-800-VICTIM2 (842-8462) or by completing the online contact form below.

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