The 3 types of damages available for personal injury claims

Suffering an injury in an accident can have far-reaching effects on your life and the lives of your friends and family. A debilitating or physically limiting injury can make it difficult or impossible for you to work. It can also lead to extensive medical bills and may require ongoing therapy in some cases. Many people are not financially prepared for the aftermath of an accident. Fortunately, when the accident was caused by someone else’s negligence, there are ways to seek compensation for your injuries.

If you were injured in an accident and are now considering taking legal action, you may have some questions about what type of compensation is available and how much. In this post, we’ll explain the three types of damages available for victims in Colorado, so you have a better idea of what to expect.

Economic damages

Economic damages resulting from an accident are those that can be measured with some accuracy. Lost wages, future lost wages, past and future medical bills, loss of earning capacity and other expenses related to the accident are all considered economic damages.

Noneconomic damages

Noneconomic damages, on the other hand, are those that are more difficult to measure. The amount of pain and suffering you endured or your inability to enjoy life the same way since the accident are examples of noneconomic damages.

In Colorado, there is a cap in place for noneconomic damages. The highest noneconomic award you can receive for injuries is $366,250. Although there are certain situations in which the court may award a plaintiff a higher amount.

Physical impairment and disfigurement

If an accident left you with a physical impairment, serious scarring or other disfigurement, you can seek compensation for it. Although these damages are similar to noneconomic damages in that there is not always a clear dollar amount that can be assigned to such injuries, there is no limit on how much you can be awarded through a personal injury claim.

How to give yourself the best chance at a fair outcome

Trying to handle a personal injury claim on your own is difficult. Insurance companies often attempt to take advantage of individuals who don’t have a lawyer on their side because they assume you don’t know the law. It can also be challenging to work through the process of pursuing compensation when you are also dealing with the enduring effects of your accident.

The best way to protect yourself if you are considering a personal injury lawsuit is to speak with an experienced attorney. An attorney can work with the insurance companies on your behalf and ensure your rights are protected throughout the process. A lawyer can also help you fight for fair compensation by demonstrating why you need and deserve it.