Damages are a crucial part of any personal injury case. There are two types of damages sought in most injury cases: economic and non-economic. In some instances, punitive damages are also available, but that’s a discussion for another article.
Economic damages refer to damages that can be calculated objectively, such as medical bills or lost wages. Non-economic damages refer to more subjective damages and include things like pain and suffering.
If you were hurt and want to find out if you are entitled to damages, you should contact an attorney in your local area. To find a qualified attorney, search the phrase “personal injury attorney near me” and read reviews of law firms in your area.
Here are the differences between economic and non-economic damages to help you understand which type of damages you may receive in your case:
Economic Damages
Economic damages refer to damages that can be easily calculated, such as medical bills or lost wages. This type of damage is based on tangible losses that can be quantified. Economic damages may also include future medical expenses and future lost wages if you cannot return to work.
They are commonly awarded in personal injury cases to compensate the injured party for their losses.
Non-Economic Damages
Non-economic damages refer to those that are more subjective and include things like pain and suffering. This type of damage is based on the emotional impact of the accident, not on any tangible losses. Non-economic damages may also include emotional distress, humiliation, and loss of consortium. Loss of consortium means loss of the ability to have a normal marital relationship due to your injuries.
They are not as easily quantified as economic damages and often require the testimony of experts to calculate.
Differences Between Economic and Non-Economic Damages
There are several critical differences between economic and non-economic damages.
- Economic damages are based on tangible losses, while non-economic damages are based on the emotional impact of the accident.
- Economic damages can be easily quantified, while non-economic injuries are more subjective.
- Economic damages are awarded to compensate for actual losses suffered. In contrast, non-economic damages are meant to punish the defendant and deter them from engaging in similar behavior in the future.
- Economic damages are more likely to be awarded in a car accident case. In contrast, non-economic damages are more common in personal injury cases such as medical malpractice or product liability.
- Economic damages are generally easier to prove than non-economic damages.
- Economic damages are generally awarded to compensate the injured party for their losses, while non-economic damages are geared to make the injured party “whole.”
- The amount of non-economic damages that can be awarded is generally capped, while there is no limit appended to the number of economic damages awarded.
- Non-economic damages are often more controversial than economic damages.
- Economic damages aim to compensate the injured party, while non-economic injuries punish the defendant.
Which Damages Type You May Be Entitled To
The type of damages you may be entitled to in your injury case will depend on the facts and circumstances of your case. In general, you may be entitled to both economic and non-economic damages. However, if you have suffered only monetary losses, you will only be able to recover financial damages. If you have suffered only non-economic losses, you will only be able to recover non-economic damages.
If you get an injury in an accident, it is vital to seek legal assistance as soon as possible. Experienced personal injury lawyers help you understand the types of damages available to you and help you seek the compensation you deserve.
