3 Things to Know About Economic Damages in a South Dakota Personal Injury Case
The purpose of a personal injury lawsuit in South Dakota is for the plaintiff to seek damages from the defendant. We use the term damages to describe the losses that the plaintiff suffered as a result of the defendant’s conduct. There are three common forms of damages that a judge or jury can award: economic, noneconomic, and punitive.
In this article, we will focus on economic damages and three things you should know about them as a legal concept and what they could mean for your own personal injury claim.
- Economic Damages Reflect Your Pecuniary Losses
Economic damages, also referred to as special damages in South Dakota law, is all about your pecuniary losses. In simple terms, it is the out-of-pocket financial costs of your injuries. Basically, if you can quantify a particular loss in terms of dollars and cents, it is part of your economic damages.
- Medical Bills Are Often the Biggest Component of Your Economic Damages
Most of the cases that our Sioux Falls personal injury lawyers handle involve motor vehicle accidents. And the number-one form of economic damages such accident victims incur are medical bills. This makes sense. If you require emergency medical care, hospitalization, or surgery following an accident, your medical bills are likely to add up quickly.
Keep in mind, your economic damages can include not just the medical bills you incurred before you filed your personal injury lawsuit. You can also seek a prospective award of your estimated future medical bills. Indeed, your future medical expenses can also cover the expected costs of rehabilitation and physical therapy.
- Economic Damages Include Loss of Income
The second most significant component of economic damages in a South Dakota personal injury case is usually lost income. As with medical bills, lost income can refer to both past and expected future losses. To elaborate further, your economic damages would include any wages, salary, commissions, benefits, et cetera, lost due to the time you missed from work while recovering from your accident.
Depending on the severity of your injuries, economic damages can also include any long-term reduction of your earning potential. For example, if it is likely you will never return to your pre-accident job or occupation, you can seek economic damages to compensate you for the money you would have reasonably expected to earn up through normal retirement age. You may also be entitled to economic damages for the cost of vocational rehabilitation, i.e., training to perform a different job.
Contact a Sioux Falls Car Accident Lawyer Today
There are many factors that go into determining what is full and appropriate compensation for a motor vehicle crash caused by someone else’s negligence. Our Sioux Falls car accident lawyers can advise you on the potential value of your own claim. Contact Hoy Law today at (605) 334-8900 to schedule a free initial consultation with a member of our team.
