Recoverable Damages After a Car Accident in Denton
When vehicle crashes are caused by the negligent or reckless conduct of another, Texas law allows injured parties to seek financial recourse in the form of damages. Due to the substantial physical harm and property damage these wrecks can cause, the recoverable damages after a car accident in Denton can be substantial.
However, fully recovering these losses can be extremely difficult without legal guidance. If you wish to seek financial restitution from the person responsible for your accident, consider speaking with our hardworking injury attorneys.
What Type of Compensation is Recoverable After a Wreck?
The recoverable losses a person in Denton could recover after being injured in an auto collision are separated into compensable and exemplary damages. Compensable damages are further categorized as either economic or non-economic.
Economic damages are the tangible losses with a set monetary value. These primarily consist of medical expenses, lost earnings, and decreased earning capacity.
Other economic losses may involve alterations that must be made to a premises. For instance, if a car accident result in a person becoming paralyzed, any necessary renovations to their home could also be calculated into a damages claim.
Non-economic damages, or human damages, are the most important types of damages in any personal injury case. These losses are unique for each individual and include things like loss, pain, suffering, and mental anguish. In cases involving catastrophic injury, it could also include disfigurement or disability. As these recoverable damages do not have a set value, they often require the skill of a local attorney experienced in car crash cases to quantify them.
Exemplary damages exist to make an example of a defendant so that they and others will not commit the same offenses. These damages are rarely granted and require a much higher standard of proof than compensatory damages. For instance, if a defendant was texting or intoxicated while behind the wheel, that could potentially be grounds for exemplary damages. When granted exemplary damages are assessed by the jury and limited to two times the economic damages plus an amount equal to the non-economic damages not greater than $750,000 or $200,000.
What Losses are Covered by Auto Insurance Companies?
To understand what losses a person’s auto insurance covers, they must first determine what kind of coverage they have. Most people in Denton have either liability or underinsured motorist coverage to cover damages after a vehicle wreck.
Liability coverage pays an injured person on behalf of the individual who injured another person. In other words, the person who is at fault. If the defendant has liability insurance, that coverage will cover any and all damages that the at fault driver inflicted on the claimant up to the limits of liability insurance purchased.
Underinsured motorist policies help the person who was injured in the event the defendant is not insured or their policy limits do not cover the full extent of the claimant’s losses. This coverage is typically found on the injured person’s own insurance policy or the policy covering the vehicle they are occupying at the time of injury. This type of coverage can cover both economic and non-economic damages, but not punitive damages, again limited to the limits of liability purchased by the policy owner.
Personal injury protection also known as PIP coverage is no fault insurance normally bought by the injured party or owner of the vehicle in which the injured party was riding. This type of coverage provides benefits for medical costs and lost earnings capacity only and is again limited to the limits of liability purchased by the policy owner.
Recover Damages After a Car Accident with Help from a Denton Attorney
Defendants and their insurance companies are notorious for lowballing damage award offers. Fortunately, our team could help you accurately calculate your recoverable damages after a car accident in Denton. When you know what you are owed, you can feel confident during settlement negotiations or in court. Contact our team today to schedule your free consultation.