Compensatory damages cover both economic and non-economic damages to give you financial reimbursement for those losses.
When you are injured as a result of someone else’s careless actions, you could have mounting medical bills along with a slew of other expenses. It’s not fair that you should have to go into debt, especially while you cope with your life-altering injuries.
You may be wondering how much your personal injury case is worth; however this number can’t be determined without considering the unique variables in your case. In Maryland, certain factors can affect how much you receive in damages for your losses.
What Damages Can You Recover for a Personal Injury Case in Maryland?
Following your accident, you should speak to a personal injury attorney about your case. They will advise you on what compensatory damages you can claim. Compensatory damages cover both economic and non-economic damages to give you financial reimbursement for those losses.
Economic damages are easily determined because they have receipts and bills to show how much money you lost due to your injury. This includes damage to your vehicle or other property, medical bills, lost wages, and loss of future earning capacity, to name a few.
Image by Claimaccident, via Pixabay.com.Non-economic damages do not have a measurable number that can be shown with receipts or bills. Nonetheless, they are real and can be sought for pain and suffering, decreased mobility, permanent scarring or disfigurement, and loss of enjoyment of life
However, in the state of Maryland, there is a cap on non-economic damages based on a formula set in 2005. With each year, the maximum for that cap increases by $15,000. For the year 2023, non-economic damages are capped at $875,000.
Punitive Damages May Also Apply
Punitive damages, also called exemplary damages, may be imposed on the at-fault party for anything that was done in malice or in a grossly negligent way. These damages are typically sought to punish defendants for their actions. As such, they’re not available in every personal injury case as they must fit the definition of deliberate wrongdoing or intent to injure.
What to Do if You Have Been Injured in Maryland
An injury such as a traumatic brain injury, fractured bones, or the loss of limbs after a car accident can change your life forever. You may endure the aftermath of your injuries for the rest of your life, all because someone acted negligently. Often, victims in these situations take a settlement before they realize that the offered amount doesn’t adequately cover all their financial losses. The amount may sound generous until you consider your past, present, and future medical bills along with your inability to work. Plus, there is how the impacts of your injuries can negatively affect your life in other ways.
To avoid being saddled with expensive medical bills or having your family lose out on income with you being unable to work, it is recommended that you seek representation from an experienced personal injury attorney. They will be able to examine all of the factors in your case and find the best way to help you recover the compensation you deserve.
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