What type of damages are generally quantifiable and an exact figure?

Prepare for the Property and Casualty Insurance Exam. Study with flashcards, multiple choice questions, hints, and explanations. Gain confidence for your test!

Special damages refer specifically to damages that can be quantified and assigned an exact monetary value. These often include tangible losses such as medical expenses, lost wages, and property damage that can be documented with receipts, invoices, or other financial records. Because these losses have easily measurable financial implications, they enable claimants to provide concrete evidence of their economic damages.

In contrast, compensatory damages encompass both special and general damages, with general damages relating to non-economic losses like pain and suffering, which are not easily quantifiable. Punitive damages serve a different purpose entirely, aiming to punish the wrongdoer rather than compensate the victim. Thus, when looking for damages that are strictly quantifiable, special damages is the accurate choice.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy