What are economic damages?

Economic damages are a type of compensation available in a Texas accident law case. These damages seek to make a person who was injured in an accident whole again financially. This is done by awarding the injured party money for expenses like medical costs, lost wages, and lost earning capacity. In some cases, economic damages may also cover funeral costs and property damage caused by the accident. In Texas, economic damages are the most common type of damages awarded in a personal injury case. This is because economic damages are easy to calculate. This makes them less complicated than non-economic damages, such as pain and suffering, which are more subjective in nature. While economic damages are important, they may not cover all of a person’s costs associated with an accident. For this reason, many accident law cases in Texas also seek non-economic damages. These damages seek to compensate an individual for the physical and emotional pain associated with the accident. In short, economic damages in Texas are monetary awards available in a personal injury case. These damages generally cover costs associated with medical expenses, lost wages, and lost earning capacity. Economic damages are usually the most common type of damages awarded in a personal injury case because they are easier to calculate. However, non-economic damages may also be awarded to compensate an individual for the physical and emotional pain associated with the accident.

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