What Type of Compensation Can I Get from a Hit and Run Accident Claim?
Compensation can range from economic, non-economic, and punitive damages.
Economic Damages
Economic damages are damages awarded to compensate for financial losses. Economic damages include medical bills, property damage, household services, vocational rehabilitation, lost wages, and loss of earning capacity. It is essential to understand that calculating medical expenses should be about more than what you have already paid. Your future medical expenses (surgeries, treatments, prescriptions, etc.) related to the accident should also be factored into your economic damages.
Non-Economic Damages
Non-economic damages are harder to estimate because the damage is not as tangible. Non-economic damages include compensation for pain, suffering, reputational damage, humiliation, loss of consortium, and loss of life enjoyment. Make sure to document these damages so that you can make sure the insurance company pays you maximum value.
Punitive Damages
Unlike economic or non-economic damages, punitive damages are not awarded for a loss. Instead, punitive damages are awarded as punishment for the other driver's actions to prevent similar conduct in the future. Punitive damages are most commonly awarded in drunk driving or speeding-related accidents.
Several factors impact your settlement potential, so it is crucial to contact Patterson Law Group to find the right hit and run lawyer in the Arlington, Texas area.