Understanding Compensatory Damages:
Compensatory damages play a role in addressing injuries, losses, and damages due to the negligence or wrongful actions of another party.
Here are a few examples of Compensatory Damages:
- Medical and hospital bills
- Expenses related to medical treatments
- Costs associated with rehabilitation
- Fees for physical therapy
- Ambulance charges
- Prescription drug expenses
- Nursing home care fees
- Domestic services expenditure
- Costs for medical equipment
- Compensation for lost wages or employment income
- Increased living expenses
- Expenses for property replacement or repair
- Transportation-related costs
How do I get paid for these damages?
To receive actual compensatory damages, you must provide evidence that proves without a shadow of a doubt your losses have a defined and factual monetary value. These damages are supposed to restore the injured party’s financial burden brought on by the accident.
How would I calculate damages?
Multiplier Method: Multiply the total of one’s actual damages by representing the severity of the injury.
Per Diem Method: Assign a daily cash value to the plaintiff’s suffering and add the values together.
General Compensatory Damages:
General compensatory damages typically do not involve direct monetary expenses as seen in the list below:
- Mental anguish
- Anticipated future medical expenses
- Prospective lost wages
- Long-term physical pain & suffering
- Loss of consortium
- Diminished enjoyment of life
- Missed opportunities
Different Kinds of Damage Compensations:
Compensatory Damages are intended to pay the plaintiff for their actual losses. The aim is to restore the injured party to their pre-incident financial state. Punitive Damages are meant to punish the defendant and serve as a way to prevent similar actions from reoccurring. Treble Damages are often brought on when a defendant willfully violates a law.