The Economic and Non-Economic Damages You Will Suffer Following a Truck Accident
Victims of truck accidents may sustain considerable economic and non-economic losses following the accident. There were 10,359 crashes involving large trucks (above 10,000 lbs.) in Utah in total, according to the Utah Department of Transportation (UDOT) Crash Summary Report for 2019.
It's crucial to get medical care after a truck accident in Utah and to speak with Utah truck accident attorneys who can guide you through the difficult legal procedure and help you collect financial compensation.
The Utah Department of Public Safety reported that there were 3,202 collisions involving trucks and commercial vehicles in Utah in 2020. Almost 41 people died, and 440 were hurt in such accidents. Truck accidents in Utah are most frequently caused by distracted driving, speeding, and driver weariness.
Following the accident, there are considerable economic and non-economic damages that can take their toll on the victim’s finances and mental health. Knowing about them can help victims in recovering such expenses and speed up their recovery process.
Economic Damages
Economic damages are the actual monetary losses that a victim may suffer as a result of a truck accident. Economic damages are defined as monetary losses incurred by people, companies, or governments as a result of a negative or disruptive occurrence. The amount of money that a person or business may be entitled to recover as compensation for these losses is referred to as "economic damages" in legal contexts. Several sorts of legal proceedings, such as personal injury claims, claims for breach of contract, and corporate torts, help the victim recover these economic damages. Following are some major economic damages that a victim can recover following the accident;
Medical Costs
Serious injuries sustained in truck accidents may necessitate lengthy medical care. High medical costs for hospitalization, surgery, medication, rehabilitation and continuous care may be incurred by victims. These costs may persist for years after the event and can easily mount up. Due to the fact that they result in a concrete financial loss for the injured party, medical expenses incurred as a result of a truck accident are regarded as economic damages.
Economic damages are a type of damages that are intended to make up for the actual financial losses a victim has endured as a result of an accident or injury. Medical costs in a truck accident may cover things like
- Ambulance bills
- Outpatient surgery
- Hospital stays
- Prescription drugs
- Physical therapy
- Rehabilitation
These expenses can mount up rapidly, especially if the victim needs continuing medical attention or has suffered severe injuries. Due to the fact that medical expenses represent a direct financial loss to the injured party, economic damages in personal injury lawsuits or insurance claims frequently include them as a component.
The at-fault party or their insurance provider might be forced to pay these costs directly to the injured person in some situations, while in other situations, the injured party might be able to recover compensation for their medical costs as part of a settlement or court decision. Medical expenses are a crucial factor to consider in every truck accident case because they can result in considerable economic losses and have a big impact on the injured party's financial stability.
Lost Wages
After a truck accident, victims might not be able to work for a while, which would mean lost income. In severe circumstances, victims might not be able to return to work at all, leading to a long-term loss of income. Because they reflect a direct financial loss to the injured party, lost wages are regarded as economic damage following a truck accident. A victim may be awarded economic damages as compensation for genuine financial losses incurred as a result of an accident or injury. Any revenue that the injured party was unable to make as a direct result of their injuries in the event of a truck accident can be considered lost wages. There may be a permanent handicap that precludes the wounded party from returning to work, time off work for healing or both. If their injuries prevent them from working in the same capacity as before the accident, the injured party may, in some circumstances, also face a decline in earning potential. Depending on how severe the injuries are and how long the injured party is out of work, the amount of lost wages may vary. The injured party's salary or hourly wage may be used in some situations to determine lost wages, but in other cases, the self-employment income or company profits of the injured party may be used to determine lost wages.
Property Damage
A victim's car and other belongings may sustain serious harm in truck accidents. Costs associated with repairs or replacements might be high. Being a direct financial loss to the victim following a truck accident, property damage is regarded as economic damage. Property damage in a truck accident might include harm done to the victim's car as well as any damaged personal belongings, such as clothing, electronics, or other goods that were within the car at the time of the accident. The expense of repairing or replacing damaged property can be high and cause significant financial loss. Property damage is often considered a part of economic losses in personal injury lawsuits or insurance claims since some reputable agencies claim that it results in a direct financial loss for the sufferer.
Funeral and Burial Costs
A truck accident could, in the worst-case situation, end in a fatality. Under such circumstances, the victim's family could have to pay a hefty funeral and burial cost. However, they can recover these expenses in either out-of-court settlements or lawsuits.
Cost of Equipment and Modifications
House adaptations may be necessary for truck accident victims who are suffering debilitating injuries. To overcome such limitations, specific tools or equipment might be required at home to care for the victim. Additionally, the victim might have to modify their home to better accommodate their condition. This equipment and changes could be expensive and call for a sizable financial investment. Naturally, these expenses make up any compensation amount the victim is entitled to after the accident.
Non-Economic Losses
Non-economic losses are not quantifiable in terms of money and are instead intangible or subjective. These losses might occur as a result of damaging or disruptive events. These losses, which can include pain and suffering, emotional discomfort, loss of companionship, and loss of enjoyment of life, are frequently impossible to quantify justly in financial terms.
Non-economic losses are frequently more irrational and challenging to assess than economic damages, which are typically expressed in terms of explicit monetary losses. These might be particular to each person and affected by things including age, gender, pre-existing illnesses, and cultural background. In many different sorts of legal cases, particularly those involving personal harm or medical malpractice, non-economic losses are a significant factor. Non-economic losses are usually those that a victim could experience while recovering but are not directly linked to the physical condition.
These harms may consist of the following:
Pain and Suffering
As a result of their injuries, truck accident victims may go through both physical and mental discomfort. Although these losses can be hard to measure, they can significantly lower a victim's quality of life. Physical pain, emotional misery, and mental distress that the victim of a truck accident goes through as a result of their injuries is all examples of pain and suffering. As there is no obvious monetary value attached to these harms, they can be challenging to quantify. But, in terms of how they affect the victim's life, they may be equally as important as economic damages.
Pain and suffering are often considered a part of non-economic damages in personal injury lawsuits or insurance claims since they represent non-monetary losses to the claimant. The victim may seek a settlement or court ruling that includes an award for pain and suffering in some situations, while in others, the at-fault party or their insurance company may be obliged to pay the victim directly for pain and suffering. In general, non-economic damages for pain and suffering can be sizable and can significantly affect the victim's quality of life, making them a crucial factor to consider in every truck accident case.
Emotional Distress
Following a truck collision, victims may endure emotional difficulties such as anxiety, sadness, and post-traumatic stress disorder. Some illnesses may need continuing care because they can be quite debilitating. In severe cases, the victim might also need the help of an experienced mental counselor to overcome the emotional issues. Since these specialized resources are usually expensive, however, they can be included in the lawsuit or other settlement offers to minimize the financial impact on the victim.
Loss of Enjoyment of Life
Due to the fact that loss of enjoyment of life pertains to a sort of harm that is difficult to quantify in monetary terms, it is regarded as non-economic damage. Loss of enjoyment of life is a category of non-economic loss that describes the injured party's incapacity to engage in or derive the same amount of satisfaction from previously enjoyable activities as a result of their injuries.
Loss of pleasure of life in a truck accident may include the inability to engage in pastimes such as sports, hobbies, or other forms of recreation, as well as the incapacity to take care of oneself or one's family. The capacity to carry out employment responsibilities or participate in social activities with friends and family may also be affected. Victims may no longer be able to partake in activities they once found enjoyable. This loss may cause a sufferer great emotional pain and may have a long-term effect on their mental health.
Loss of Consortium
In some situations, truck accidents may prevent victims from having close relationships. The victim's emotional health and interpersonal connections may suffer as a result of this loss. Because the loss of consortium is an intangible loss that is difficult to put into monetary words, it is regarded as non-economic damage. Loss of consortium in a truck accident refers to the absence of companionship, love, tenderness, and sexual intimacy that the injured party's spouse may feel as a result of their injuries. As there is no obvious monetary value attached to these harms, they can be challenging to quantify.
Nonetheless, they might have an impact on the victim's loved ones that is just as substantial as economic losses. The victim's loved ones may seek a settlement or court ruling that includes an award for loss of consortium in some situations, while in others, the at-fault party or their insurance company may be forced to pay the victim's loved ones directly for the loss of consortium.
Scarring and Disfigurement
As a result of their injuries, truck accident victims may experience scarring or disfigurement. These physical changes may necessitate continuous care since they can be a significant source of emotional discomfort. After a truck accident, scarring and disfigurement are regarded as non-economic losses because they represent an intangible loss that is difficult to put a monetary value on. Non-economic damages are a type of damages designed to make up for non-financial losses sustained by a victim as a result of an accident or injury. Scarring and disfigurement in a truck accident relate to the physical changes to the victim's look as a result of their wounds. As there is no obvious monetary value attached to these harms, they can be challenging to quantify. Nonetheless, they can have an equally severe influence on the victim's quality of life, relationships, and overall self-esteem.
Overall, scarring and disfigurement are non-economic losses that can be severe and have a long-term effect on the victim's physical and especially emotional health, making them a vital factor to consider in any truck accident case.
Victims of truck accidents may sustain considerable economic and non-economic losses. These losses may have a long-term effect on the psychological and financial health of the sufferer. It is crucial to seek the counsel of a qualified personal injury lawyer if you have been injured in a truck accident so they can help you obtain the compensation you are entitled to for your losses. According to estimates, truck accidents cost Utah $776,686,847 in total in 2019, including both financial and non-financial damages. The emotional toll that truck accidents can have on victims and their families should be considered alongside the physical pain to come up with a settlement amount that is a fair reflection of the victim’s economic and non-economic damages.