While emotional compensation is designed to compensate for pain and suffering, economic compensation is intended to recover the financial losses associated with out-of-pocket expenses caused by the truck accident.
These economic losses may be due to factors such as:
- lost income (because of inability to work or lost future earning potential caused by injuries) ;
- medical treatments or rehabilitation;
- funeral expenses after a fatal truck accident; and/or
- car rental or the cost of public transportation while your vehicle is being repaired.
In truck accident claims involving a very serious injury or a fatality, the court will evaluate several factors to help calculate appropriate economic compensation. For example, the court will want to know:
- How much money did the deceased truck accident victim earn?
- What was the deceased victim’s health status at the time of his/her death?
- What was the deceased victim’s life expectancy?
- Are the victim’s family members financially independent?
- Did the deceased victim have money saved?
- How much will funeral expenses cost for the family of a deceased victim?
- How much will medical expenses cost for a seriously injured truck accident victim?
A successful truck accident claim may recover many of the financial losses associated with both economic and emotional factors caused by a truck accident.
Contacting a Peachtree City Personal Injury Attorney for Help
If you were involved in a serious truck accident, understanding the types of compensation and what you deserve is key to your truck accident claim. Read our free eBook, The Ultimate Guide to Accident Cases in Georgia – The Truth about Your Injury Case. As the victim of a truck accident, you have rights that the insurance companies cannot ignore. While they have a team of lawyers working on their side, shouldn’t you have experienced legal representation fighting for your best interests? Before accepting any settlement offer, contact the Law Offices of Jason Schultz to schedule a FREE consultation on your case – 404-474-0804.