What is the difference between compensatory and monetary damages?

Compensatory damages and monetary damages are two different types of awards given in accident law in Arizona. Compensatory damages, also known as actual damages, are awarded to the victim in order to compensate them for direct and indirect losses they have incurred due to the accident. This could include medical bills, lost wages, or damage to personal property. Monetary damages, also known as special damages, are awarded to the victim in order to punish the responsible party for their negligence. This type of award is meant to prevent the responsible party from engaging in the same behavior in the future. Monetary damages can include punitive damages, court costs, or attorney’s fees. Both compensatory and monetary damages are meant to ensure that the responsible party pays for any damages they cause. The difference between the two is that compensatory damages are meant to make the victim “whole” again, while monetary damages are meant to punish the responsible party. Compensation is usually awarded to make up for the direct and indirect losses incurred, while monetary damages are awarded in an effort to make an example out of the responsible party. It is important for victims of accidents in Arizona to understand the difference between compensatory and monetary damages in order to make sure that the responsible party is held accountable for their negligent behavior.

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What is the difference between compensatory and monetary damages?

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