Damages experts may opine on these forms of recovery for property damage:
- Compensatory Damages. Compensatory damages
are designed to place a victim in the position he or she would be in if
the defendant's wrong had never occurred. Compensatory damages include the
amount needed to replace or repair the lost or injured property, as well
as any costs flowing from the injury (known as consequential damages).
Consequential damages may cover the costs of interim replacement property
(such as a rental car) as well as any lost profits resulting from the
injury.
- Incidental Damages. Incidental damages
compensate victims for various expenses incurred as a result of property
loss. Incidental damages may include the costs of phone calls, shipping,
transportation, etc.
- Punitive Damages. Punitive damages are
not awarded to compensate victims for their losses, but rather to punish
defendants and deter others from engaging in similar behavior. Punitive
damages may not be awarded without compensatory damages and typically
cannot exceed ten times the amount of compensatory damages. However,
because punitive damages are intended to punish defendants, a jury may
consider a defendant's total wealth when calculating a punitive damage
award.
For more, see http://www.justia.com//.
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