What are Economic Damages?
Economic Damages is a term that encompasses any kind of financial loss that an injury victim has incurred due to an accident. They are damages that can hypothetically be measured at an exact dollar amount. Because of this, they are more objectively-measured than non-economic damages. They can include medical expenses, loss of income, and funeral expenses among other monetary costs. Economic damages are also known as pecuniary damages.
Quantifying the level of economic damages incurred after an accident impacts the damages that may be received by a plaintiff in a lawsuit. A plaintiff being able to recover from financial losses and become whole again following a defendant’s negligence is considered a function of the justice system. Because economic damages need to be objectively measured, much evidence needs to be provided for accuracy.
According to the American Bar Association (ABA), many states follow the Economic Loss Doctrine, which holds victims from recovery when “the negligence of others results in purely economic loss.” That is to say that in many cases, something like injury or distress needs to be proven in order for a victim to recover damages. In concept, this is to prevent plaintiffs from seeking recovery that is greater than necessary.
More information about Economic Damages
Massachusetts Truck Accident Lawyer
Massachusetts Truck Accident Attorney
If you were injured in a truck accident, our Massachusetts truck accident lawyers can help.
According to the Federal Motor Carrier Safety Administration (FMCSA), there were approximately 415,000 accidents involving trucks in the U.S. in 2020. Over 24% of them caused serious injuries, and about 1% were fatal. In Massachusetts, nearly 6% of large trucks on the road were involved in a crash. More importantly, accidents involving tractor-trailers cause the most serious injuries and accidents on Massachusetts roads.
If you or someone you know was injured in a crash with a large commercial truck in Massachusetts, our nationwide truck accident lawyers are ready to fight for you. Schedule a free consultation with the nation’s premier truck accident lawyers at Munley Law today.
Types of Compensation Available to Victims of Truck Accidents in Massachusetts
Victims of collisions with a large commercial truck may be able to receive compensation for some or all of the following:
- Past, […]
More information about Economic Damages
Indiana Truck Accident Lawyer
An Indiana Truck Accident Can Be Devastating.
The Munley Law Truck Accident Attorneys Are Here to Help.
Truck accidents can be much more serious than car accidents due to the sheer size and weight of a truck. They can cause disastrous damage to the vehicles involved, as well as serious injuries or fatalities to drivers and passengers.
If you are involved in a truck accident, it is important to seek medical attention and consult with a personal injury lawyer who has experience in truck accident law, to protect your rights and seek compensation for your injuries and damages. Munley Law Truck Accident Lawyers are nationally recognized as pioneers in truck accident law. With decades of experience, an expert understanding of the law, unmatched resources, and a commitment to pursuing justice for our clients Munley Law Personal Injury Attorneys will provide a free consultation to discuss your case. […]
Read MoreMore information about Economic Damages
Texas Truck Accident Lawyer
Until you’ve been involved in an accident with a large truck, it can be hard to imagine how much a truck crash impacts your life. As Texas truck accident lawyers with decades of experience, we know the physical, emotional, and
financial strain you’re experiencing now.
Truck accidents are not just larger versions of car accidents—they involve unique legal challenges and require specialized knowledge to ensure you receive the compensation you deserve. At Munley Law, our experienced truck accident attorneys are dedicated to holding trucking companies accountable and securing maximum client compensation. We are ready to help you get back on your feet.
About Our Truck Accident Law Firm
Munley Law was founded in 1959. Since then, our family-run firm has earned a nationwide reputation as one of the leaders in personal injury and truck accident law. Our 18-wheeler accident attorneys are among a few lawyers who have earned board certification in truck accident law. […]
Read MoreMore information about Economic Damages
Illinois Truck Accident Lawyer
According to the United States Census Bureau, more than 3.5 million people worked as truck drivers in 2019, making it one of the largest occupations in the nation. Many of these people live in Illinois; in fact, the Chicago-Naperville-Arlington Heights metropolitan area alone contains 37,500,00 resident truck drivers. We, of course, rely on trucks to bring us necessary goods, but there are also dangers that come from having so many trucks on the road. A fully loaded truck can be as much as 16 times heavier than a passenger vehicle; if the two collide, the passenger vehicle and its occupants will most likely bear the brunt of the damage.
Experiencing any car accident, particularly one that involves a truck, is a traumatizing experience. And it doesn’t end on the scene: you’re stuck battling with insurance companies, paying thousands of dollars of medical bills, […]
Read MoreMore information about Economic Damages
Reading Bus Accident Lawyer
We share our roads with commercial and municipal buses every day. When an unfortunate bus accident occurs, victims are left to manage injuries, physical damages, psychological damages, lifestyle adjustments, financial losses, and, in the worst-case scenarios, death. You want to seek the compensation that you need and are entitled to; keep in mind that bus companies have large teams ready to manage their defense and great sources of financial backing to do so. This can be extremely intimidating if you do not have the help of an attorney who is experienced in dealing with these large bus company entities and their counterparts.
If you or someone you love was hurt or killed in a bus accident, our Reading bus accident lawyers can help you recover the compensation you need to rebuild your life. We represent bus passengers as well as drivers of other vehicles, pedestrians, […]
Read More
