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.

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