Definition - What does Speculative Damages mean?
Speculative damages are damages for losses that have not actually been incurred. Instead, they are damages for losses that could possibly be incurred in the future, and are contingent upon a certain event occurring.
Speculative damages are typically not considered legitimate grounds for financial compensation in civil lawsuits because no losses have been accumulated.
Justipedia explains Speculative Damages
The reason why speculative damages are usually not approved in lawsuits is because the event that they are intended to compensate for has not actually happened yet, and may never happen.
For example, if you try to get speculative damages for an auto accident that you think will occur in 10 years' time, you will most likely fail. This is because no actual harm has been done, and may never occur in the future.
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