What Are Economic Damages?

If you were, you may be able to recover compensation–or damages–for your injuries and losses. Contacting a Las Vegas personal injury attorney for legal help is a good idea.There are two types of damages available in personal injury cases: economic and non-economic.

What Are Economic Damages in Nevada?

If you were injured in a personal injury accident in Nevada, you may be able to recover damages from the at-fault party. Economic damages concern the direct financial consequences of the accident or injury. They are sometimes called special damages or tangible damages. They are fairly straightforward to calculate, as they often relate to specific transactions.

In contrast, non-economic damages are not concerned with financial damages. Instead, they concern the psychological or other consequences of the accident or injury, such as emotional anguish, pain and suffering, and loss of companionship. They are less straightforward to calculate than economic damages. Non-economic damages are sometimes referred to as intangible damages or general damages.

Common Types of Economic Damages in Nevada

You can recover many types of economic damages in Nevada. Common economic damages include:

Medical costs already incurred
Property damage
Lost wages
Loss of future earning capacity
Future rehabilitation and medical costs
Out-of-pocket expenses

Although economic damages are generally more straightforward to calculate than non-economic damages, that's not always the case. For example, calculating anticipated costs like future rehabilitation expenses or loss of future earning capacity requires making estimates about what costs the victim will incur in the future or how much income they would have earned had they not been injured.

Is There a Limit on Economic Damages in Nevada?

In most cases in Nevada, there is no cap on the amount of economic damages a personal injury victim can recover. If the defendant is a government entity, however, then economic damages are capped at $200,000.

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Who Is Eligible To Receive Economic Damages?

You may be eligible to recover economic damages if you were injured in an accident due to someone else’s negligent conduct.

Therefore, to recover damages in a personal injury case, a plaintiff usually must prove the following four elements:

The defendant owed the plaintiff a duty of care;
The defendant breached that duty of care;
The plaintiff suffered injuries; and
The defendant’s actions were the direct and proximate cause of the plaintiff’s injuries.

You must prove each of these elements by a preponderance of the evidence. That means you must prove that it’s more likely than not that your claims against the defendant are true.

In addition to proving these elements, a plaintiff will need to prove the amount of their damages. They may also need to respond to counter-arguments and defenses from the defendant, such as whether the plaintiff was partly responsible for the accident.

Is There a Deadline for Pursuing Economic Damages?

Every state provides a timeframe within which personal injury lawsuits must be filed. This is known as the statute of limitations. In Nevada, an injured party has two years from the date of an accident to file a personal injury lawsuit. If the case is not filed within two years of that date, the injured party will not be able to seek compensation for their injuries in a personal injury lawsuit. Most personal injury lawsuits will be resolved prior to the filing of a lawsuit or before the case goes to trial. Nonetheless, it’s important that you are aware of the deadline for filing a lawsuit in your case so you don’t waive any legal remedies in your case.

How a Personal Injury Lawyer Can Help You Recover Economic Damages in Las Vegas, NV

If you were injured in a car accident, a slip and fall, or some other accident, an experienced personal injury or car wreck lawyer can guide you through the claims process and help you fight for compensation.

Specifically, your attorney may:

Gather documentation to support your injuries and claims;
Interview witnesses and hire expert witness, if needed;
Gather documentation to help assess your damages;
Contact the at-fault party’s insurance company on your behalf;
Negotiate a settlement with the at-fault party’s insurance company; and
Take your case to civil court if necessary;

There’s no requirement that you hire a personal injury attorney. However, in addition to helping you navigate the legal process, a skilled attorney will save you time and may help you recover more compensation. If you were involved in an accident in Las Vegas, NV, you may be dealing with injuries, medical appointments, lost wages, and other unexpected costs. Contact a seasoned personal injury lawyer to discuss your case and see if you can recover compensation for these economic damages.

Contact an Experienced Las Vegas Personal Injury Lawyer To Discuss Your Case

If you were injured in an accident and you believe someone else was at fault, contact an experienced Las Vegas personal injury attorney from Cogburn Davidson Car Accident & Personal Injury Lawyers to discuss your case. You may be able to recover compensation for all of your damages—economic and non-economic.

What Are Economic Damages?