What Are Economic and Non-Economic Damages?

Economic and non-economic damages refer to the types of compensation a personal injury victim may be able to claim after another party causes their injuries. The law breaks down these damages into economic losses that are easily represented by a value and more subjective losses. Both are your right to recover in many accidents.

It is important to know the difference between economic and non-economic damages after an accident. The burden of proof is on the victim, which means you need to know all types of losses you can claim, and an Orange County injury lawyer can help.

What Are Economic Damages?

Economic damages represent losses that are easily quantifiable. There is a receipt, a bill, or some other way to document what these losses are. The accident directly causes these losses and, as a result, you know what their value is specifically.

Some of the most common types of economic damages include:

• Medical expenses: Emergency care, hospital bills, medication costs, rehabilitation costs, care received from specialists, tests, and treatment. It includes expected future medical costs as well.
• Lost wages: This includes any time missed at work that you could not recover because of your injuries. This may include your base salary, bonuses, commission, and other benefits earned by working.
• Property damage: Damage to your personal assets as a result of the negligence of another person, such as damage to your car or belongings.
• Out-of-pocket costs: This may include costs to visit the doctor for medical care or purchases you had to make to cover necessary support.

Economic damages are the most common for personal injury victims to claim, but it is up to you to know what all of your losses are. That means you need to be fully aware of all of the ways this incident impacted your life.

What Are Non-Economic Damages?

In a personal injury case, non-economic damages are intangible losses you suffered as a result of your accident. They are more subjective in nature when it comes to valuing them, but they remain critically important for you to request coverage for if you suffer from them.

Examples of non-economic damages might include:

• Pain and suffering: This includes both the physical pain and emotional distress you experienced due to the injury and accident.
• Emotional distress: Many people face ongoing psychological stressors after a serious accident, including the onset of a condition like post-traumatic stress disorder, debilitating anxiety, or depression.
• Loss of consortium: This represents the loss of companionship, affection, or sexual relations you have as a result of the impact of the accident.
• Disfigurement: It can be hard to put a value on the impact disfigurement causes, but those with permanent scars are owed compensation for those changes.
• Loss of quality of life: Those who cannot engage in the things they always did, such as hobbies or sports, may seek compensation for those losses.

Like all other losses, you must carefully and clearly document the losses you have. This includes producing evidence that outlines what these losses are and how they impact you and your health.

Your Attorney Can Help You Value Your Claims

With the help of a personal injury lawyer, you will know what economic and non-economic losses you are owed, as well as their accurate value.

Your lawyer will work tirelessly to help you build a strong claim backed by evidence. Contact us today.