What is the difference between actual and potential damages?

Actual damages refer to the money that is owed for the losses that have already been incurred by an injured party. These damages are typically quantifiable and are awarded in order to compensate for medical bills, lost wages, and other associated costs. Potential damages refer to the losses that could occur in the future as a result of a catastrophic injury. This includes money to cover future medical costs, long-term care, pain and suffering, and lost earning potential. In California, the law provides a certain amount of compensation for both actual and potential damages. For actual damages, it is up to the court to determine the amount of money a plaintiff can receive based on their individual case. However, when it comes to potential damages, the amounts are fixed and set by the state. These damages are awarded to cover the cost of future medical expenses, future lost wages, future pain and suffering, and any other losses that may be incurred in the future due to the injury. In order to be successful in a catastrophic injury claim, it is important to understand the differences between actual and potential damages. Knowing the difference can help an individual receive the best possible compensation for their injuries. Furthermore, it is important to be aware of the laws in California regarding catastrophic injury so that a plaintiff can pursue justice and have the best chance of winning the compensation that they deserve.

Related FAQs

What is the difference between actual and potential damages?

Related FAQs

Related Blog Posts