When you’re injured in an accident in Indiana, you may be entitled to compensation for your financial losses. For example, if you’re involved in a car accident, the compensation you could get from your personal injury case would fall into two broad categories: economic damages and non-economic damages.
Economic damages are the portion of a personal injury claim designed to reimburse you for tangible, measurable expenses that result from your accident. When you properly understand economic damages, you will be positioned to recover the highest compensation possible from your personal injury claim.
Understanding Economic Damages in Indiana
Economic damages aim to make accident victims whole by covering the financial costs of another party’s negligence. Unlike non-economic damages, which address pain or emotional distress, these damages focus on clear, measurable losses supported by receipts, bills, pay stubs, or repair estimates.
Indiana courts consider both immediate and long-term financial impacts, including any expense reasonably tied to the accident. Careful record-keeping and timely documentation are essential to securing fair compensation.
Common Incidents Leading to Claims for Economic Damages
Accidents can happen in many different ways, and each has the potential to create significant financial burdens for victims and their families.
Some of the most common incidents that give rise to claims for economic damages in Indiana include:
- Truck accidents
- Motorcycle accidents
- Slip and fall incidents
- Medical malpractice
- Product liability
- Wrongful death claims
A seasoned personal injury lawyer will carefully investigate each case’s circumstances, identify all potential sources of economic loss, and fight to secure the maximum compensation available under Indiana law.
Common Types of Economic Damages in Indiana
Accident victims in Indiana may be entitled to recover compensation for a wide range of financial losses. Below are the most common categories of economic damages, along with examples of what may be claimed.
Medical Expenses
One of the most significant components of economic damages is medical costs.
These may include:
- Emergency care – Ambulance fees, ER visits, and urgent care treatment.
- Hospitalization and surgery – Inpatient care, surgical procedures, anesthesia, and related hospital charges.
- Diagnostic tests – X-rays, MRIs, CT scans, and lab work are necessary to assess injuries.
- Specialist care and follow-ups – Orthopedic, neurological, or rehabilitation specialist appointments.
- Prescription medications and durable medical equipment – Pain medications, mobility aids, braces, or splints.
For example, a rear-end collision victim may incur thousands of dollars in MRIs, physical therapy, and follow-up visits. Keeping invoices and receipts is essential to ensure these costs are fully recoverable.
Rehabilitation and Therapy Costs
Some injuries, severe ones, require ongoing rehabilitation.
Economic damages may cover:
- Physical therapy sessions to restore mobility or strength
- Occupational therapy to regain everyday functional skills
- Speech therapy or cognitive rehabilitation after brain injuries
- Home modifications required for recovery, like ramps or handrails
For instance, a construction worker with a severe back injury might require months or even years of physical therapy. Each session can be included in an economic damages claim.
Lost Wages
If injuries temporarily prevent you from working, you may recover the income lost during your recovery period. This includes salaries, hourly wages, bonuses, or commissions. Documentation such as pay stubs, tax returns, or employer statements may be required.
For example, a teacher unable to work for six weeks after a slip and fall can seek compensation for lost wages during that time.
Loss of Earning Capacity
Sometimes, an injury limits your ability to return to your previous job or reduces long-term earning potential. Indiana law allows victims to claim loss of future income if they can demonstrate diminished earning capacity. Factors often include age, profession, skill set, and career trajectory.
For instance, a professional athlete with a permanent knee injury that ends their career may recover damages for lost future income.
Property Damage
Damages aren’t limited to medical and wage losses. You can also recover for physical damage to personal property. This can include damage to your vehicle, electronics, or other possessions. Ensure to keep receipts, repair estimates, and photographs of damaged property.
For instance, after a car accident, you may recover the costs to repair your car or replace personal items destroyed in the collision.
Funeral Expenses
In wrongful death cases, Indiana law permits families to seek economic damages. These damages may include funeral and burial costs incurred due to the decedent’s injuries.
Out-of-Pocket Expenses
Indiana law allows you to recover reasonable and necessary out-of-pocket costs related to your injury.
How Courts Determine Economic Damages in Indiana
When calculating economic damages, Indiana courts and insurance companies consider various factors.
Some important considerations for economic damages include:
- Total cost of medical treatment and ongoing care
- Rehabilitation and therapy expenses
- Lost wages and income
- Long-term impact on earning capacity
- Damage to personal property
- Documented out-of-pocket expenses directly related to the accident
Cases involving permanent injuries or disability often result in higher awards due to the long-term financial impact on the victim’s life.
Statute of Limitations for Economic Damages in Indiana
In Indiana, the statute of limitations for most personal injury cases is generally two years from the accident date. Wrongful death claims also typically must be filed within two years from the date of death.
Failing to file within these deadlines can prevent you from recovering economic damages entirely. That’s why contacting an experienced personal injury attorney is critical to maximize compensation.
Contact the Indianapolis Personal Injury Attorneys at Wilson Kehoe Winingham Injury Lawyers for a Free Consultation to Learn More
If you’ve been injured in an accident, our attorneys can help you recover economic damages such as medical bills, lost wages, and future earning capacity. Our firm has decades of experience fighting for accident victims across Indiana and will work to seek a full financial recovery on your behalf.
Don’t go through this process alone. Contact Wilson Kehoe Winingham Injury Lawyers, today for a free consultation and learn how we can maximize your compensation from your personal injury claim.