If another party caused your accident or injury, you could be entitled to compensation for damages. Damages include the pain and suffering you experienced because of the accident, also known as non-economic damages. You can also recover compensation for your economic damages or financial losses.

Before you can recover economic damages in a personal injury case, you must prove that the other party caused your injury. Our Orlando personal injury lawyers at Payer Law Personal Injury Lawyers build a case that proves fault and liability to help you recover the money you deserve after a personal injury or accident. 

Examples of Economic Damages in an Orlando Personal Injury Case 

Examples of Economic Damages in an Orlando Personal Injury Case

You have the right to receive reimbursement or compensation for the monetary losses caused by another person’s negligence. Most economic damages in a personal injury case fall into one of these categories:

Medical Bills and Expenses

Treating injuries can be very expensive. Even minor injuries could result in thousands of dollars in medical bills. Expenses could include:

  • Hospital and emergency room charges
  • Doctor’s bills
  • Costs of diagnostic tests, including imaging tests and lab work
  • Physical, occupational, and other rehabilitative therapies
  • Ambulance costs 
  • Surgeries
  • Bills for medical specialists 
  • Chiropractic care

Keep copies of all medical bills you receive. It is also wise to keep a list of all medical providers. Your lawyer can request final statements from all providers to ensure you include all medical bills in your personal injury claim.

Loss of Income

Lost wages are another substantial portion of economic damages. You can recover compensation for the income you lose because of the accident and your recovery, including:

  • Wages
  • Salaries
  • Overtime pay
  • Commissions
  • Tips
  • Bonuses
  • Self-employment income
  • Part-time pay
  • Freelance work

You could also receive compensation for loss of benefits, such as paid time off, sick time, and vacation time. If your employer-matched retirement funds, that might be included in a loss of income claim.

Out-of-Pocket Expenses 

Other expenses related to the accident are included in this category. Examples of out-of-pocket expenses include:

  • Medical supplies and equipment, including bandages, wheelchairs, crutches, bedside commodes, and more.
  • Cost of prescription drugs and over-the-counter medications
  • Travel expenses to and from medical appointments, including public transportation, mileage, parking fees, and more.
  • The cost of modifying your home or vehicle because of a permanent disability 
  • The cost of personal care and household services 

Keep a list of all expenses you incur because of the accident or injury. You should also keep copies of all bills, invoices, and receipts to support your expenses. 

Future Economic Damages 

If you sustain a permanent impairment or disability, you could be entitled to compensation for future damages. Future damages could include:

  • Future lost wages
  • Diminished earning capacity
  • Long-term skilled nursing care
  • Ongoing personal care
  • Future medical bills and expenses

It can be challenging to estimate the cost of future economic damages. We may retain one or more experts to assist with this element of your personal injury claim, including medical specialists, financial professionals, and vocational experts. 

How Much Are My Economic Damages Worth in an Orlando Personal Injury Case?

The value of your economic damages is the total of the actual costs and expenses for each category. We must prove that you incurred each expense or cost and that the amounts are reasonable and necessary. Therefore, keeping detailed records can increase the value of your claim. 

Does Contributory Fault Impact the Value of Economic Damages in Florida?

You can be partially to blame for causing your injury and still recover compensation for damages. However, your compensation is reduced by your level of fault. For instance, if a jury decides you were 40% to blame for causing a car accident, you would only receive 60% of the award for damages. 

In addition, you cannot recover damages under Florida law if you are 51% or more to blame for your injuries. An experienced personal injury lawyer can advocate for your interests and work to ensure you aren’t assigned excessive blame.

What Is the Statute of Limitations for Claims for Economic Damages?

Your economic damages are part of your personal injury claim. Most negligence claims have a two-year statute of limitations in Florida. Most wrongful death and medical malpractice claims have a two-year statute of limitations. 

However, general negligence claims before March 24, 2023, could have a longer filing deadline, as could other types of cases. There are also exceptions that could change the statute of limitations in some cases.

The best way to protect your right to file a personal injury lawsuit is to seek legal advice immediately. Our Orlando accident attorneys will calculate the deadline for filing claims based on the unique factors involved in your case. 

Schedule a Free Consultation With Our Orlando Personal Injury Lawyers

You deserve fair compensation for a personal injury claim. At Payer Law Personal Injury Lawyers, our lawyers fight to recover the maximum compensation available for your case. Contact us today at (407) 648-1510 for a free consultation with one of our experienced Orlando personal injury attorneys.