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A serious accident or injury in Nevada can affect every aspect of your life, often putting you through overwhelming physical, emotional, and financial stress. Recovery is often lengthy and expensive, and many individuals struggle to get back on their feet. Fortunately, you can pursue compensation from the negligent party by filing a personal injury lawsuit.
In this article, we’ll explain the different types of damages that you can recover in Nevada. Understanding the compensation available to you can help you make informed decisions as your personal injury lawsuit moves forward.
Types of Damages Available in a Personal Injury Lawsuit
The primary damages you can recover from winning a personal injury lawsuit in Nevada are compensatory damages and punitive damages. These are meant to reimburse you for the losses you suffered due to the defendant’s negligence.
What Are Compensatory Damages?
The key objective of compensatory damages is to make you, the plaintiff, whole again. This is done by reimbursing you for your exact losses in the hopes of restoring you to the same financial position you were in before the incident happened.
While nothing can truly erase the impact of your injury, Nevada law uses money for financial restoration. Compensatory damages are further classified into economic and non-economic damages.
Economic damages
As the name suggests, economic damages or special damages cover measurable financial losses. They are generally easier to calculate as they come with bills or receipts. Common economic damages in personal injury lawsuits include:
- Medical expenses: This includes costs for emergency care, hospital stays, surgeries, prescription medications, rehabilitation, and medical devices. Your medical records, treatment plans, and receipts are used to prove these expenses. If you require ongoing care, a medical expert can help estimate your future medical costs.
- Lost wages: This covers the income and benefits (such as bonuses, commissions, and overtime) you’ve lost while you’re unable to work during recovery. To successfully claim lost income, you may need pay stubs, tax returns, and a statement from your employer.
- Loss of earning potential: If you’ve sustained injuries that permanently prevent you from returning to your former employment or limit your potential to advance in your career, you can pursue compensation for the lost earning capacity. An expert, such as an economist, can project your career trajectory and the financial losses.
- Property damage: Covers the cost of repairing or replacing personal property that was damaged in the incident. Examples include vehicle replacement after an accident that totaled your car or home repairs after a fire. The amount of compensation you’re entitled to is calculated from receipts, repair estimates, and market value.
- Other incident-related costs: This compensates you for any out-of-pocket expenses related to your injuries. It can include home modifications, rental car fees, and transportation costs to medical appointments.
Non-Economic Damages
Non-economic damages or general damages refer to financial compensation that is awarded for intangible, non-monetary losses. They address the human impact of an injury and include:
- Pain and suffering: Compensation for the discomfort or physical suffering caused by your accident. When estimating these damages, the court may consider the severity of your pain and the expected recovery time.
- Emotional distress: It addresses the psychological trauma that a plaintiff may suffer, such as anxiety, depression, insomnia, and Post-Traumatic Stress Disorder (PTSD)
- Loss of enjoyment of life: If you’ve sustained injuries that have left you unable to participate in hobbies, sports, or activities that you previously loved, you can seek compensation for the lost enjoyment.
- Loss of consortium: When an injury takes a toll on a relationship, the uninjured spouse can file a loss of consortium claim for the loss of companionship, affection, sexual relations, and household assistance.
What Are Punitive Damages?
Punitive damages do not reimburse the victim for their losses. Instead, they are meant to punish a defendant for egregious or grossly negligent conduct and deter others from similar acts. Also known as exemplary damages, they are awarded at the court’s discretion on top of a plaintiff’s compensatory damages.
Punitive damages are only awarded in a small percentage of personal injury lawsuits. If an incident is attributed to a simple mistake or ordinary negligence, the courts are unlikely to impose exemplary damages. There must be clear evidence that the defendant’s conduct was intentional or grossly negligent. Examples might include:
- A manufacturer continues to sell a product despite knowing that it has a serious safety defect.
- A driver causes a serious accident while under the influence of alcohol or drugs.
- A healthcare provider falsifies records or performs procedures without proper consent.
How Nevada Pre-Settlement Funding Can Help with Your Financial Burdens
If you’re involved in a personal injury lawsuit, you’re probably aware that the legal process can be expensive and drawn out. Bills can pile up while you wait for the compensation you’re owed. Fortunately, plaintiffs in Nevada can apply for lawsuit funding while waiting for their cases to be resolved.
Pre-settlement funding provides you with upfront cash while your personal injury lawsuit is still pending. This allows plaintiffs to cover urgent expenses such as rent, utilities, and medical bills.
At High Rise Financial, we offer non-recourse lawsuit funding. This means you are not required to repay the funds if you lose your case. In other words, you’ll repay the money only if you receive compensation. This makes pre-settlement funding a low risk option.
Contact High Rise Financial Today for Nevada Pre-Settlement Funding
If you’ve sustained serious injuries in Nevada, a personal injury lawsuit can help you recover compensation for both economic and non-economic losses. While no amount of money can undo the harm you’ve suffered, securing financial compensation can support your recovery and help you rebuild your life. Understanding the types of damages available in Nevada personal injury lawsuits can give you a clear picture of what your case may be worth.
Fighting for fair compensation takes time. Unfortunately, not every plaintiff has the resources to sustain a lengthy legal battle. If you’re facing financial strain during your lawsuit, Nevada pre-settlement funding is worth exploring. This financial option offers upfront cash, with no credit score requirements or repayment obligations if you lose your case. Contact us at High Rise Financial today to learn more.