Car accidents can have devastating consequences, resulting in physical injuries, emotional distress, and financial burdens. When you are involved in a car accident due to someone else’s negligence or recklessness, you have the right to seek compensation for your losses.
In a car accident case, the primary aim of seeking damages is to compensate the injured party for their losses. These types of damages are known as compensatory damages. They are designed to make the injured party “whole” again by covering both economic and non-economic losses. Let’s delve into these two main categories of compensatory damages:
Economic damages, often referred to as special damages, are tangible losses that can be quantified with a specific dollar amount. They typically include:
Non-economic damages are less tangible but equally significant losses resulting from a car accident. They encompass:
Determining the value of non-economic damages can be more challenging than economic damages because they lack specific dollar amounts. Various factors are considered, including the severity of injuries, the duration of recovery, and the impact on your daily life. Insurance adjusters and courts often use different methods, such as the multiplier method (multiplying economic damages by a specific factor) or the per diem method (assigning a daily value to the pain and suffering).
In some cases, punitive damages may be available in addition to compensatory damages. Punitive damages are designed to punish the at-fault party for particularly reckless or egregious behavior, such as drunk driving or intentional misconduct. These damages are relatively rare and are typically awarded when the defendant’s actions demonstrate a conscious disregard for the safety of others. The purpose of punitive damages is to deter similar behavior in the future.
It’s important to be aware of the statute of limitations governing car accident claims. These are strict deadlines within which a lawsuit must be filed. The specific time limit varies from state to state, but it typically ranges from one to three years from the date of the accident or the discovery of the injury. Failing to file a lawsuit within the statute of limitations can result in the forfeiture of your right to seek compensation.
Navigating the complexities of car accident claims and assessing the full extent of your damages can be challenging. Insurance companies often aim to minimize payouts, which is why it’s crucial to consult with an experienced car accident lawyer. A skilled attorney can evaluate your case, gather evidence, negotiate with insurers, and advocate for your rights in court if necessary.
Understanding your rights and the potential damages available to you is essential for pursuing a fair and just settlement. If you’ve been involved in a car accident, a Nashua, NH car accident lawyer can help. Contact Welts, White, & Fontaine, P.C. today for a confidential consultation, and let us help you on the path to recovery and justice.
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