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Economic Damages

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If you’ve been injured in an accident in Jacksonville, FL, you may be entitled to compensation for your losses. 
Rewards for injuries are typically classified as:

  • Economic damages
  • Non-economic damages

Read on to learn more about economic damages.

How Are Economic Damages Defined in Florida?

How Are Economic Damages Defined in Florida?

When residents of Jacksonville, FL, are injured in car crashes, slip and falls, or various other accidents, they might consider filing a personal injury lawsuit against the responsible party. If successful, the injured party will receive an award through the legal system in Florida in the form of economic damages or non-economic damages. 

Economic damages help victims pay for the financial costs resulting from their accidents. These compensatory damages must be tangible, meaning plaintiffs must present evidence of bills, invoices, and other expenses to a judge or jury.

Non-economic awards exist to compensate injured victims for the emotional pain or mental suffering they went through while recovering from their injury. Pain and suffering damages are not easy to determine and can be challenging to prove.

What Are the Standard Forms of Economic Damages in Florida?

A Florida resident may recover wide ranges of economic damages after personal injury cases.

Medical Expenses

Injured claimants may be compensated for the following tests and procedures:

  • Blood tests
  • Emergency room visits
  • X-rays 
  • Surgeries
  • MRI scans
  • Medications

If you’ve been injured due to the fault of another person, make sure to keep all medical bills. Maintaining your medical bills will help recover your medical expenses.

Costs for Rehab

Some Florida residents who suffer personal injuries may need lengthy physical therapy and job training bouts. Florida residents can be compensated for these expenses when they file lawsuits. 

Damage to Property

Injured plaintiffs can recover the costs of fixing their car or other personal property by filing personal injury lawsuits. Property damages are easier to prove when backed up by evidence of invoices and receipts.

Loss of Income

Florida workers may have to take time off work due to injuries suffered in accidents. Floridians can receive compensation for their lost income by suing the responsible party. 

Funeral Expenses

The family members of Floridians who suffered injuries resulting in death can recover for funeral costs. 

You will incur legal expenses in any personal injury case. The cost of hiring an attorney to file a lawsuit can be recovered. In bad faith cases, your attorney demands the benefits you’re owed under your policy. You can recover economic damages for the cost of your legal expenses.

Baggett Law Personal Injury Lawyers has been helping Florida residents obtain top results for individuals and families that have suffered injuries in accidents. Call or contact us for assistance with your case. 

How Do Courts Determine How Much an Injured Party Should be Compensated?

Courts in Florida consider the following to determine the amount of economic damages parties should receive after being injured:

  • Medical treatment costs
  • Rehabilitation costs
  • The victim’s continuing healthcare expenses
  • The expenses needed to repair or replace damaged property
  • How long the victim was out of work due to the injury
  • How the victim’s injury will affect their career
  • The limits for property damage and bodily injury that the responsible party’s insurance carries

Florida victims who have suffered long-term, disabling injuries that stop them from resuming their careers often get the largest payouts. 

Schedule a free consultation in Jacksonville, Florida, if you would like to have a personal injury lawyer from Baggett Law Personal Injury Lawyers review your case and determine the economic compensation you may be entitled to. Our law firm has over 35 years of combined experience and has recovered tens of millions of dollars in settlements and verdicts for our clients. 

What are the Limits to the Economic Damages Florida Residents Can Recover in Personal Injury Cases?

Florida does not have damage caps on personal injury cases. Injured plaintiffs in Jacksonville, Florida, can recover 100% of the compensation they need to pay for their medical bills.

Florida does impose damage caps on the amount of money that can be awarded as punishment for wrongdoing attached to a personal injury complaint. These damages are known as punitive damages. Florida law limits punitive damages to three times the amount of compensatory damages, or $500,000, whichever is greater.

How Can I Find More Information?

If you’d like to be compensated for pain and suffering or economic loss after an accident in Jacksonville, Florida, arrange a free consultation with Baggett Law Personal Injury Lawyers as soon as possible.

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