Compensatory Damages in Personal Injury Cases

Posted by on August 4, 2020 in Laws and Lawyers with 0 Comments

Personal injury laws in the state of New York separate damages into two categories: compensatory and punitive. Compensatory damages are the financial remuneration that an accident victim is entitled to for current and future economic losses. Punitive damages are awarded when the court determines that the act was egregious enough to warrant a financial punishment. While punitive damages are awarded in NY personal injury cases, they usually follow the estimation of compensatory damages. For this article, we will be focusing on compensatory damages.

What Should Accident Victims Receive in Compensatory Damages?

When you’re involved in an accident, you’re impacted, physically, emotionally, and financially. Personal injury law does its best to restore the victim as close to their former state as possible. Compensatory damages include both economic and non-economic damages.

Economic Damages

Economic damages include any costs that have a readily calculable monetary value. Examples of monetary damages are hospital bills, testing, scans, medicine, physical therapy sessions, property damage (like to a vehicle), and lost wages. Economic damages can escalate very quickly.

Non-Economic Damages

Non-economic damages are also referred to as “pain and suffering.” This can include physical pain, emotional trauma, inconvenience, and loss of capacity. While it might not be difficult to add together the medical bills involved in a knee operation, it’s another matter calculating the emotional and mental anguish involved in losing a leg.

Caps on Compensatory Damages in New York

The state of New York does not have a limit for compensatory damages for personal injury cases. This gives attorneys the leeway to accept larger cases that they know would exceed caps in other states. You may, however, be capped by the limits on an insurance policy. To have a better understanding of how personal injury compensation would work in your case, contact a personal injury lawyer in your area.

Frequently Asked Questions About New York Personal Injury Law

The Harrison Law Group is one of Long Island’s premier personal injury law firms. They have settled and litigated hundreds of cases. Here are some of the most frequently asked questions that they’ve received through the years.

How can I afford a personal injury lawyer?

In the state of New York, personal injury lawyers work on a contingency basis. That means that their fees come at the end of the case when they win or settle. Contingency fees are established by the state bar, but you should discuss your attorney’s fee structure before committing.

What is the statute of limitations for personal injury cases in New York?

For most accidents, the statute of limitations is three years from the date of the accident. You should not, however, delay because you think you have a lot of time. Valuable information and evidence can be lost over time.

Are there caps to compensatory damages?

The state of New York does not cap compensatory damages in a personal injury case.

Will going to the hospital affect my claim?

Not at all. If you’re injured, you should seek medical help immediately. If anything, responding to the hospital will establish a baseline for your injuries.

If you’ve been injured in an accident, you should speak to an attorney before accepting any settlement from the insurer or the responsible party. Call today.

Tags: , ,

Subscribe

If you enjoyed this article, subscribe now to receive more just like it.

Subscribe via RSS Feed Connect on YouTube

New Title

NOTE: Email is optional. Do NOT enter it if you do NOT want it displayed.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

FAIR USE NOTICE. Many of the articles on this site contain copyrighted material whose use has not been specifically authorized by the copyright owner. We are making this material available in an effort to advance the understanding of environmental issues, human rights, economic and political democracy, and issues of social justice. We believe this constitutes a 'fair use' of the copyrighted material as provided for in Section 107 of the US Copyright Law which contains a list of the various purposes for which the reproduction of a particular work may be considered fair, such as criticism, comment, news reporting, teaching, scholarship, and research. If you wish to use such copyrighted material for purposes of your own that go beyond 'fair use'...you must obtain permission from the copyright owner. And, if you are a copyright owner who wishes to have your content removed, let us know via the "Contact Us" link at the top of the site, and we will promptly remove it.

The information on this site is provided for educational and entertainment purposes only. It is not intended as a substitute for professional advice of any kind. Conscious Life News assumes no responsibility for the use or misuse of this material. Your use of this website indicates your agreement to these terms.

Paid advertising on Conscious Life News may not represent the views and opinions of this website and its contributors. No endorsement of products and services advertised is either expressed or implied.
Top
Send this to a friend