Oklahoma Surface Damages — Measure of Damages refers to the compensation that may be received for damage to real property, such as land, buildings, and other structures. This type of damage can be caused by weather events, earthquakes, and other natural disasters. Oklahoma Surface Damages — Measure of Damages is typically measured in two ways: fair market value and replacement cost. Fair market value is the amount that would be paid by a willing buyer for the damaged property. Replacement cost is the amount necessary to repair or replace the damaged property. There are two additional types of damages that may be considered when assessing damages: consequential and punitive damages. Consequential damages are losses that may be incurred due to the destruction of the property, such as lost income due to a business closure. Punitive damages are damages awarded when a defendant has acted in a grossly negligent or malicious manner.