What is the difference between actual and potential damages?

Actual damages refer to a financial award given to a plaintiff as compensation for damages suffered as a result of a catastrophic injury. These damages are typically paid to cover medical expenses, lost wages, pain and suffering, emotional distress, and other costs directly related to the injury. Potential damages, on the other hand, refer to future expenses or losses that may arise due to the injury. These damages may include lost earnings, future medical costs, or a decrease in earning capacity. Potential damages are typically harder to prove, as they are based on estimated future costs or losses. In Virginia, courts often award both actual and potential damages when a plaintiff is successful in a catastrophic injury case. The amount awarded for potential damages is often based on economic projections and other expert opinion from medical professionals. The jury or court often exercises great discretion in determining the amount of potential damages to award.

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What is the difference between actual and potential damages?

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