When an individual is injured due to the negligence of another party, they may be entitled to compensation for both economic and non-economic damages.
Understanding the various types of damages available in a personal injury claim is crucial in pursuing fair and just compensation. This article will explore everything that should be known about economic and non-economic damages in personal injury cases.
What Are Economic Damages
Economic damages refer to the financial losses that a person encounters due to a random event, such as an accident, breach of contract, or other harmful actions. These damages can be calculated based on the actual financial losses incurred due to the event.
While the calculation of economic damages can be complex and require the expertise of financial professionals, they are an essential tool for ensuring fairness and justice in legal proceedings. Luckily, a lawyer at Shulman & Hill Law Firm may be able to help calculate these damages.
Below are some damages that fall under economic damages:
● Medical expenses: These costs include past, present, and future medical bills incurred because of the accident, including emergency room visits, hospital stays, surgeries, therapy, medication, medical equipment, and more. By collecting bills, receipts, and invoices, the amount can be calculated accurately.
● Lost wages: The victim can be compensated for the wages they lost due to their inability to work because of their injuries. Depending on the severity of the injuries, they may be unable to work temporarily or permanently, which will be calculated differently.
● Loss of earning capacity: If the victim’s injuries decrease their ability to earn money in the future, this can be considered when calculating their damages. For instance, if the injuries make it impossible for the victim to return to their previous profession, they may need to acquire new skills or start a new career.
● Property damage: If the accident caused damage to the victim’s property (e.g., vehicle, bicycle, phone), the cost to repair or replace the item can be included in the damages.
● Funeral and burial expenses: If the case is related to wrongful death, the losses incurred by the deceased’s family, including funeral and burial expenses, can be considered economic damages.
What Are Non-economic Damages
Non-economic damages are a type of compensation awarded in civil lawsuits for harm that cannot be quantified through receipts or other objective documentation. Typically, non-economic damages are awarded in cases involving pain and suffering, loss of consortium, emotional distress, and disfigurement or disability.
Here are some examples of non-economic damage:
● Pain and suffering: This type of damage refers to physical pain or discomfort as well as emotional distress, such as anxiety or depression, caused by an injury or accident. Compensation for pain and suffering is usually calculated based on the severity of the injury or illness, the duration of the pain, and any emotional trauma experienced by the victim.
● Loss of consortium: This refers to the loss of companionship or intimacy that a spouse or family member experiences as a result of an injury or illness. Compensation for loss of consortium aims to compensate the victim’s loved ones for the loss of their relationship with the victim.
● Emotional distress: This type of non-economic damage is awarded when a victim suffers psychological trauma, such as fear, humiliation, or anxiety, as a result of an accident or injury. Examples include PTSD (post-traumatic stress disorder) or severe anxiety and depression.
● Disfigurement or disability: These damages are awarded for permanent injuries or lasting physical changes that affect the victim’s quality of life, such as scarring or losing a limb. Compensation for disfigurement or disability is often based on the severity of the injury and how much it impacts the victim’s ability to perform daily activities and enjoy life.
Non-economic damages can be difficult to quantify, but they aim to restore some sense of justice to victims who have suffered physical or emotional harm due to the negligence or wrongdoing of another party. It’s important to work with an experienced attorney to help you understand and maximize any non-economic damages you may be entitled to receive.
When Are Economic and Non-economic Damages Available?
In personal injury cases, victims are often entitled to both economic and non-economic damages. While non-economic damages, such as pain and suffering, may be more difficult to prove, economic damages are typically more straightforward. To support a claim for economic damages, victims must provide evidence in the form of bills and receipts to demonstrate the extent of their financial losses.
This is particularly important when it comes to medical expenses, as these costs can quickly add up. In addition to medical bills, victims should also keep track of any out-of-pocket expenses related to their treatment, such as transportation costs to and from medical appointments.
Ready to Claim Damages for Your Personal Injury Claim?
If you have suffered a personal injury, it is important to take action and seek compensation for damages incurred. Personal injury claims cover a wide range of incidents, including car accidents, slips and falls, workplace accidents, and medical malpractice.
The bottom line is that It is important to seek the right legal advice and consult with an experienced personal injury attorney who can guide you through the process and advocate on your behalf.