What is the difference between compensatory and punitive damages?

Compensatory and punitive damages are two types of damages awarded to victims who have been injured in an accident. Compensatory damages are awarded to provide financial compensation to the victim for the losses they have suffered, such as medical bills, lost wages, or emotional distress. Punitive damages are awarded as a punishment for the defendant’s actions and to discourage similar behavior in the future. In Colorado, punitive damages are usually only awarded if the defendant’s conduct was particularly outrageous or intentional. Compensatory damages are solely intended to make the victim financially whole again, covering the costs of any medical bills, lost wages, or other losses the victim has suffered due to the accident. Punitive damages, on the other hand, are intended to punish the defendant. The court will consider a variety of factors when determining the appropriate amount of punitive damages, such as the defendant’s level of fault in the accident, the severity of the harm suffered by the victim, and any prior behavior on the part of the defendant. In summary, the main difference between compensatory and punitive damages is that compensatory damages provide financial compensation to the victim for their losses, while punitive damages are intended to punish the defendant and deter similar behavior in the future.

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What is the difference between compensatory and punitive damages?

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