What Are Economic Damages in New Mexico?

After experiencing a personal injury at the hands of another, you are likely looking into the process of bringing an injury claim against the person who harmed you. The process can be complex, and figuring out your damages is an important part of the process. 

Damages are all the negative effects you experienced because of your accident. But what are economic damages in New Mexico? What are non-economic damages?

Types of Damages in New Mexico

There are a few types of damages you can receive from an injury claim, but the two main types are economic damages and non-economic damages.

Economic damages are the losses that you experienced of a monetary nature. For example, if you are injured in a vehicle crash and you suffer lost income, medical bills, and property damage, those would be the economic damages of your accident.

Non-economic damages are the losses you experienced of a nonmonetary nature. For example, if that same car accident left you dealing with physical pain, mental anguish, scarring, permanent injury, and a loss of quality of life, those would be the non-economic damages of your accident.

Damages are different in every type of accident case, but you’re entitled to receive full payment of all of your damages for an accident in New Mexico caused by someone other than yourself.

Speak with a Personal Injury Lawyer in New Mexico

Now you understand what economic damages in New Mexico are. You don’t have to accept less than full payment for your damages, and a personal injury lawyer at our firm will do everything they can to see you get a settlement. Get in touch with Will Ferguson & Associates to receive a free case review. Simply call 505-243-5566 or fill in the form at the bottom of this web page.