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What Are Economic Damages in Texas?

The purpose of filing a civil lawsuit is to ensure the responsible individual or entity is held accountable for the harm they caused you. But, you’ll likely also want to recover maximum compensation for all you have been through. 

As part of the claim process, your attorney will need to review the ways your life has been negatively impacted by the injuries you endured, which includes economic and non-economic damages. Continue reading to learn more about economic damages and other losses you may be able to recover in your accident claim.

Economic Damages, Explained

Texas economic damages, like most states, focus on the financial losses an injury victim has endured. Things such as loss of income, medical expenses, and property damage will all be considered economic damages. 

Additionally, the damage to your earning capacity will fall under this category of damages and might include repayment for the lost contributions to your retirement savings plan, bonuses you might have earned, salary increases, and the like. 

Other Losses You May Be Entitled To

Apart from your economic damages, you may also seek recovery of other types of losses known as non-economic damages, or those that do not pertain to money. Such damages might include your pain and suffering, diminished quality of life, loss of companionship and love, inconvenience, and mental anguish, among others. 

Non-economic damages do not have a set monetary value, but they are equally as—if not more so—valuable than economic damages, and should be taken into consideration accordingly.

Discuss Your Claim with a Texas Personal Injury Lawyer

To learn more about which economic damages are recoverable in your case, or if you have further questions about what your claim is worth, get in touch with an experienced Texas personal injury lawyer at Crain Lewis Brogdon, LLP

When you are ready to schedule your free, no-obligation consultation, fill out the brief contact form included below or call our firm directly at 214-522-9404.