What Types of Damages are Included in a Car Accident Settlement?

When victims are seriously injured in an accident due to the irresponsible behavior of another driver, they may be able to pursue financial compensation for their injuries in the form a car accident settlement. There are a handful of different types of damages that can be included in a settlement. Identifying the damages that apply to a given personal injury claim requires understanding how the accident took place and the full extent of an accident victims injuries.

Understanding the difference between monetary and non-monetary damages

Depending on the particular details of an individual victim’s accident, he or she may be eligible for compensation for monetary and/or non-monetary damages.

• Monetary damages include the actual financial losses that were caused by a car accident. Some of the most important monetary damages associated with car accident claims include property damages, medical bills, and lost earnings.
• Non-monetary damages include losses that are not necessarily directly associated with financial expenses. When it comes to car accident lawsuits, pain and suffering are important types of non-monetary damages that may be applicable to a personal injury claim.

A word on punitive damages

In some cases, personal injury victims also have the option of pursuing punitive damages. This is a special category of damages that are unrelated to the actual injuries and other damages a victim may have suffered. Instead, punitive damages are designed to punish the defendant for the behavior that led to the accident. The laws concerning punitive damages can vary considerably from state to state. Some examples of the types of behaviors that may justify pursuing punitive damages include gross negligence and drunk driving.

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You may have a limited amount of time to pursue compensation for your injuries. Don’t make the mistake of putting off speaking with a personal injury law firm near you until it is too late. Call Abrahamson & Uiterwyk today at 1-800-538-4878.