Economic damages in Missouri car accident claims are the actual financial losses you can prove with documentation like medical bills, future care costs, repair receipts, out-of-pocket expenses and pay stubs. These measurable costs include everything from emergency room visits and lost wages to vehicle repairs and out-of-pocket expenses you face because of your crash.
It’s important to understand that there are three types of damages you can recover after a car accident claim, and economic damages are just one of them. The three types are:
- Economic damages: Your actual out-of-pocket costs like medical bills and lost wages
- Non-economic damages: Personal suffering like pain and suffering, emotional distress, and lost enjoyment of life
- Punitive damages: Extra money to punish drivers who acted extremely recklessly
Understanding what counts as economic damages helps ensure you don’t miss any expenses when seeking compensation from insurance companies or through a personal injury claim.
What Costs Count as Economic Damages After a Missouri Crash?
Economic damages include every expense you face because of your accident. This covers money you’ve already spent and costs you’ll face in the future.
The key is keeping detailed records of everything since evidence strengthens your economic damage claim. Insurance companies won’t just take your word for it.
Medical Bills and Future Care
Your medical expenses make up the biggest part of most economic damage claims. These start the moment you’re hurt and can continue for months or years.
Current medical costs you can recover include:
- Emergency room visits and ambulance rides
- Hospital stays and surgeries
- Doctor appointments and specialist visits
- Physical therapy and rehabilitation
- Prescription medications
- Medical equipment like wheelchairs or crutches
Future medical expenses work differently. Your doctor needs to provide a written treatment plan that outlines what care you’ll need going forward.
Our skilled car accident attorneys in St. Louis work with medical experts to calculate these future costs accurately. This ensures you’re not stuck paying for accident-related treatment years down the road.
Lost Wages and Loss of Earning Capacity
If your injuries keep you out of work, you can claim the lost wages from work you’ve already missed. This applies whether you’re paid hourly, earn a salary, or work on commission.
Lost wages are straightforward to calculate using your pay stubs. Loss of earning capacity is more complex.
This covers situations where your injuries permanently affect your ability to work. Maybe you can’t return to the same job or you can’t work as many hours as before.
We often bring in economists to calculate these losses over your entire working lifetime. The younger you are, the more significant these damages can be.
Vehicle Repairs, Total Loss, and Diminished Value
Damage to your vehicle can result in various types of economic losses. Which ones apply depends on how badly your vehicle was damaged.
- Repair costs: If your car can be fixed, you can recover the full repair bill
- Total loss: If your car can’t be repaired, you get the replacement value
- Diminished value: Even after repairs, your car may be worth less than before the accident
Diminished value claims can be tricky. Insurance companies often fight these, but we know how to prove your car lost value.
Out-of-Pocket Expenses, Travel, Childcare, and Household Help
Many people forget about smaller expenses that add up over time. These everyday costs matter just as much as your big medical bills.
Common out-of-pocket expenses include:
- Gas and parking for medical appointments
- Prescription co-pays not covered by insurance
- Over-the-counter medications and supplies
- Childcare while you attend appointments
- Household help for tasks you can’t perform
Keep every receipt, no matter how small. These costs can add up to thousands of dollars over the course of your recovery. These expenses can accumulate over the course of your recovery.
Funeral, Burial, and Financial Support in Wrongful Death
When someone dies in a car accident, their family can file a wrongful death claim. Economic damages in these tragic cases work differently.
The family can recover funeral and burial expenses immediately. They can also seek compensation for the financial support the deceased would have provided over their lifetime.
Missouri gives families three years from the date of death to file these claims. Don’t wait – gathering evidence becomes harder as time passes.
How Do You Calculate Economic Damages in Missouri?
Calculating your economic damages means adding up every accident-related expense you can prove. This requires organizing your paperwork and sometimes working with experts.
The goal is showing the insurance company or jury exactly how much money you’ve lost.
What Evidence Proves Economic Damages?
Strong documentation makes the difference between getting paid and fighting for months. You need clear proof of every loss you claim.
Essential documents include:
- Medical bills, hospital statements, and insurance explanations of benefits
- Pay stubs, tax returns, and employer letters about missed work
- Vehicle repair estimates and receipts
- Receipts for all out-of-pocket expenses
- Mileage logs for medical appointment travel
Start gathering these documents right away. Don’t wait until you’re feeling better or your case is moving forward.
How Do You Prove Future Medical Needs and Wage Loss?
Future damages are harder to prove because they haven’t happened yet. This is where expert testimony becomes crucial.
Your treating doctor can provide a detailed treatment plan with cost estimates. This medical opinion carries weight with insurance companies and juries.
For lost earning capacity, we work with economists who analyze your age, education, work history, and injury severity. They calculate how your injuries will affect your lifetime earnings.
How economic damage is measured depends heavily on this expert testimony when settlements are calculated. Without it, insurance companies will lowball your future losses.
Does Comparative Fault Reduce Your Economic Recovery?
Missouri follows pure comparative negligence, which means your compensation is reduced if you share blame for the accident.
Here’s how it works: under Missouri’s comparative fault rule, any recovery you receive is reduced in proportion to the percentage of fault assigned to you.
Even if you think you might be partly at fault, don’t give up. Missouri law lets you recover compensation even if you’re mostly to blame for the crash.
We know how to fight back against unfair blame-shifting by insurance companies. Our job is making sure you get every dollar you deserve.
Do Missouri Laws Limit Economic Damages?
Missouri has no cap on damages in regular car accident cases.
This is different from some other states that limit how much you can collect. Missouri believes injured people should be made whole financially.
What Caps Apply to Government Claims?
There’s one major no-cap exception to Missouri’s rule.
Claims against government entities face government claim limits.
If a city bus hits you or you’re hurt by a dangerous road condition, city bus damage caps apply. You must also provide the government with notice of your claim as required by applicable law.
These government cases require quick action and specialized knowledge. Don’t try to handle them alone.
Missouri sets strict deadlines for filing lawsuits; see filing deadlines in Missouri.
How We Pay Your Economic Losses and When?
After an accident, bills start arriving long before any settlement money comes in. Understanding your payment options helps you get treatment without going broke.
Several insurance sources might cover your costs while your case moves forward.
How Do MedPay and Health Insurance Cover Bills Early?
Medical Payments coverage, or MedPay, pays your medical bills right away regardless of who caused the crash. Not everyone has this coverage, but if you do, use it.
Your regular health insurance also covers accident injuries. You’ll still owe copays and deductibles, but it keeps you from paying full price.
Both MedPay and health insurance may seek reimbursement from your final settlement. We handle these negotiations to maximize what you keep.
What If the At-Fault Driver Is Uninsured or Underinsured?
If the other driver has no insurance or not enough coverage, your Uninsured/Underinsured Motorist coverage kicks in. Missouri requires drivers to carry this protection.
This coverage works like the other driver’s insurance should have. It pays your economic damages up to your policy limits.
Many people don’t realize they have this coverage until they need it. Check your policy or ask us to review it for you.
How Do Hospital Liens and Subrogation Impact Your Payout?
Hospitals sometimes place liens against your settlement to ensure their bills get paid. Your health insurer also has subrogation rights to get reimbursed for what they paid.
These claims can eat into your settlement significantly. We negotiate with hospitals and insurers to reduce what you owe.
Our goal is maximizing your economic loss payout after all liens and subrogation claims are satisfied. You shouldn’t have to pay twice for the same medical care.
How Long Do You Have To Recover Economic Damages in Missouri?
Missouri sets strict deadlines for filing lawsuits. Miss these deadlines and you lose your right to any compensation.
- Personal injury claims: Five years from the accident date under Missouri’s statute of limitations
- Wrongful death claims: Three years from the date of death
- Government claims: 90-day notice requirement plus shorter filing deadlines
Don’t wait until the last minute. Evidence disappears and witnesses’ memories fade over time.
How We Maximize Your Economic Recovery
Beck & Beck focuses exclusively on Missouri auto accident law. This means we know exactly what economic damages you can claim and how to prove them.
We handle every aspect of maximizing your recovery:
- Document all losses: We help you track current expenses and calculate future costs
- Work with experts: Medical professionals and economists strengthen your damage calculations
- Negotiate liens: We reduce hospital and insurance company claims against your settlement
- Fight lowball offers: Insurance companies know we’re prepared to go to court if needed
Our attorneys serve injured people across Missouri from offices in St. Louis, Kansas City, Springfield, Columbia, Kirksville, and Cape Girardeau. We have a long history of achieving strong results for our clients.
Schedule A Consultation With Beck & Beck Missouri Car Accident Lawyers Today
Don’t try to handle your economic damage claim alone. Insurance companies have teams of lawyers working to pay you less.
We offer free consultations with no obligation. You pay nothing unless we win your case. Contact us to have your questions answered and to get started on your claim.
FAQ: Economic Damages in Missouri Car Accident Claims
Are Economic Damages From Car Accidents Taxable in Missouri?
Economic damages for physical injuries are generally not taxable under federal law. However, you should consult a tax professional about your specific situation since tax rules can be complex.
Can I Recover Costs for Rental Cars and Towing After an Accident?
Yes, rental car costs, towing fees, and storage charges are all recoverable economic damages. Keep all receipts and document these transportation-related expenses carefully.
What If I Used Sick Leave Instead of Taking Unpaid Time Off?
You can still claim lost wages even if you used paid time off or sick leave. Using these benefits represents a financial loss since you can’t get that time back.
How Do Self-Employed People Prove Lost Income After an Accident?
Self-employed individuals can use tax returns, bank statements, client invoices, and contracts to prove their average earnings before the accident. These documents help establish your typical income pattern.
Can I Claim Childcare Costs as Economic Damages?
Yes, if your injuries prevent you from caring for your children, the cost of hiring childcare is a recoverable economic damage. The same applies to household help for tasks you can no longer perform.
What Records Should I Keep to Prove My Economic Losses?
Save every bill, receipt, pay stub, and repair estimate related to your accident. Keep a mileage log for medical appointments and photograph all documents as backup records.
