What are economic damages?

Economic damages are a type of damages that an individual can seek when they are involved in an accident. Economic damages are intended to cover losses due to property damage or medical expenses as a result of an accident. These losses are typically expressed in terms of money and must be quantified in order to be successfully awarded. In Alabama, all damages are compensatory, meaning the victim must prove that the damages were the result of the negligence of the other party. They must also be able to provide evidence to support the amount of economic damages that they are seeking. Generally, economic damages are awarded for losses like medical expenses, lost wages, damage to property, or lost benefits. These damages are usually awarded fairly quickly as long as the individual can prove that the losses were caused by the fault of the other party. When punishments, such as punitive damages, are sought, an accident victim must be able to prove that the other party showed “willful misconduct” or a reckless disregard for the safety of others. These types of damages are usually awarded in addition to economic damages. Punitive damages are not considered when economic damages are awarded, and any award of punitive damages is up to the discretion of the court.

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