What is ‘Full and Fair Compensation’ in Texas?
In Texas, “full and fair compensation” refers to a sum of money you (the accident victim) gets to make things right, to bring you back to where you were before suffering a loss or injury. This concept applies in various legal scenarios, including tort claims, contract breaches, and even government takings of private property.
Types of damages in Texas include:
Economic Damages
Medical expenses, property replacement, lost income, loss of earning capacity.
Non-Economic Damages
Pain and suffering, mental anguish, disfigurement or impairment, loss of enjoyment of life
Special Damages
Suppose an injured party is no longer able to care for her aging mother, and is forced to hire a caretaker. This cost can be pled as a Special Damage.
Punitive Damages
Damages intended to punish and/or make an example of a defendant who has engaged in especially malicious, fraudulent, or negligent behavior.
In Texas, there are no caps on damages for personal injury cases, except for those resulting from medical malpractice.
Restoration to Pre-Loss State
The core principle of full and fair compensation is to ensure that you are not worse off financially after a car or truck accident (or other kind of accident where another person or company is guilty of negligence). This means covering all direct and indirect losses, including lost wages, medical expenses, property damage, and even emotional distress.
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Insurance companies are for-profit entities that will do everything they can to avoid paying you the amount you actually deserve. They may offer you a settlement, especially if they believe you have a strong case, one that may even seem generous. But in most cases, it isn’t close to what you actually deserve — or what they think you could get through litigation.
Full and fair compensation refers to the total amount of restitution you deserve for the economic and non-economic losses you have suffered as the result of an accident. These losses could include medical bills, damaged property, lost income, diminished earning potential, and pain and suffering, among others.
Working with an attorney can improve your chances of obtaining full and fair compensation.
