If you have suffered a personal injury in Charlotte, North Carolina, you may be entitled to economic damages. In the United States, the “economic cost” of injuries is trillions. This huge number shows how accidents create financial problems for both people and society.
A Charlotte personal injury attorney can help you get money for your losses. These economic damages include money you’ve lost now and will lose in the future because of your injury.
What Are Economic Damages?
Economic damages are money losses you can count after an injury. Unlike pain and suffering, you can prove economic damages with bills, receipts, and expert statements. Understanding these damages helps you get fair payment for your losses.
Medical Expenses
Medical bills are often the biggest part of economic damages.
Here are the main types of medical costs you might face:
- Emergency room visits and hospital stays
- Surgeries and doctor visits
- Medicine and medical supplies
- Physical therapy and rehab
- Ongoing medical care and checkups
Your medical costs often go far beyond your first treatment, so keep all your records.
Lost Wages and Diminished Earning Capacity
When you can’t work because of an injury, you can ask for different types of damages:
- Current lost wages, including your salary and benefits
- Future income you’ll lose if you can’t return to your job
- Less money if you must take an easier, lower-paying job
- Lost chances to advance your career
The Bureau of Labor Statistics provides work-life tables that help figure out these long-term losses. Experts use these numbers to show how much money you’re really losing.
Property Damage
If something you own was broken in the accident that hurt you, fixing or replacing it counts as economic damage. This often means vehicle damage in car accidents or truck accidents, but it can include any damaged property. Keep all repair bills and estimates.
Out-of-Pocket Expenses
You might spend money on many other things because of your injury:
- Travel costs to doctor appointments
- Changes to your home if you’re disabled
- Help with housework you can’t do anymore
- Job training for new work
- Medical equipment you need
These costs add up over time, so track everything you spend.
Figuring Out Economic Damages
You need good records and often expert help to show all your losses. Insurance companies try to pay less, so keep every receipt.
These things affect how much money you should get:
- Rising costs over time
- How long you’ll need care
- Your career path
- Future medical costs
- Long-term care needs
Understanding these things helps you get enough money to cover all your needs. Figuring out economic damages is hard, and there’s a lot of money at stake. Experienced personal injury lawyers know how injuries can wreck your finances now and in the future.
Common Problems With Economic Damage Claims
Insurance companies often try to pay less than they should.
Here are some problems you might face:
- Arguments about whether you need certain treatments
- Questions about how long you need to heal
- Doubts about future income losses
- Disputes about long-term care costs
- Claims about health problems you had before
Good records and expert witnesses help beat these insurance company tactics.
How Expert Witnesses Help
Expert witnesses help prove your economic damages.
You might need these types of experts:
- Doctors to explain future medical needs
- Money experts to figure lifetime costs
- Job experts to show work limits
- Care planners to list future needs
- Numbers experts to show life expectancy
These experts help show the full picture of your money losses.
Timeline for Pursuing Economic Damages
You must act quickly on economic damage claims. North Carolina has strict deadlines for filing your claim with the courts.
In addition, watch out for these timing issues:
- Promptly obtaining and documenting medical care
- Obtaining legal counsel before you begin to negotiate with insurance companies or face a filing deadline
- Timing the submission of your claim to insurance companies
- Time limits for settlement offers
Missing deadlines can hurt your case for economic damages, so don’t delay getting legal counsel.
Getting the Most Money Possible
To get fair payment for your economic damages, follow these steps:
- Keep all bills and receipts
- Follow your doctor’s orders
- Write down missed workdays
- Save emails about your injury
- Track every cost from your injury
Taking these steps makes your claim stronger and helps you get full payment.
A Personal Injury Lawyer Can Help You Pursue Economic Damages
Good records are key to getting money for your losses. Keep all medical bills, receipts, pay stubs, and other proof. The sooner you work with a personal injury attorney, the better your chances of getting fair payment.
Don’t let injury costs overwhelm you. An experienced team will fight for the money you deserve while you focus on getting better. Contact a personal injury lawyer from Chandler Volta Personal Injury Lawyers at (704) 980-9999 to schedule a free initial consultation.
