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EzineMark » News » A Comprehensive Guide To Economic And Non-Economic Accident Damages
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A Comprehensive Guide To Economic And Non-Economic Accident Damages

Angela SpearmanBy Angela SpearmanNovember 29, 2022Updated:November 29, 2022No Comments3 Mins Read
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A Comprehensive Guide To Economic And Non-Economic Accident Damages
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An accident can cause injuries and other damages to the victims. Often, accident victims hire lawyers to pursue compensation from the relevant insurance providers. The financial awards for accident victims cater to the injuries and losses associated with an accident.

Hiring Weisfuse & Weisfuse attorney is a sure means of receiving reasonable economic and non-economic compensation after an accident.

The lawyer you hire can help you receive compensation higher or lower than your damages. The attorney can negotiate for damage differentiation. For instance, your economic and non-economic damages may be separated to attract maximum financial awards.

What are economic damages?

Economic damages refer to all tangible losses incurred by a victim due to an accident. These are damages with concrete evidence or documentation. Therefore, the lawyer can calculate losses associated with an accident.

Often, medical expenses carry the highest financial award. The more severe the victim’s injury, the greater the medical costs. Economic damages include past and future medical bills for:

  • Ambulance services
  • Emergency room expenses
  • Physicians’ costs
  • Surgeries
  • Occupational, emotional, and vocational therapies
  • Hospitalizations
  • Medical equipment
  • Laboratory tests

Hiring a personal injury attorney helps you collect evidence for future medical procedures. The presiding judge in the accident case must receive proof through expert testimony from the victim’s attending physician.

What non-economic damages?

Non-economic damages refer to subjective monetary losses incurred by an accident victim. Some accident losses cover losses that are not easy to calculate. For instance, an accident victim may not be able to work, or they can lose their job. Psychological and emotional stress includes:

  1. Pain and suffering are sustained during the treatment and recovery period.
  2. Emotional anguish and other types of distress associated with the accident; think of a victim sustaining burns and disfigurement.
  3. Compromised life quality means the accident victim may not enjoy life as they did before the accident. For instance, a victim may not walk, run or cycle after sustaining injuries in an accident.
  4. Chronic pain can prevent an accident victim from enjoying life maximally. Chronic pain is untreatable and patients must rely on pain-relieving drugs to sustain their lives. Non-economic damage compensation caters to such situations.
  5. Loss of relationships because of the injuries from an accident. An accident victim lacks the privilege of relating with their spouse and children. For instance, an accident victim may not perform household duties or underperform in their marital commitment.

How does a personal injury attorney help?

Non-economic damages require the skills of a seasoned personal injury attorney. The court may need the attorney to present their case before a jury to prove the compensation amount stated. Often, the personal injury attorney calculates non-economic damages about economic damages. The economic damages amount is multiplied by a certain number to determine non-economic damages. This is known as a multiplier method.

Parting shot

Hiring a personal injury attorney helps you receive maximum compensation. This is achieved by calculating quantifiable damages, such as medical expenses, and evaluating non-economic damages, such as pain and suffering.

Angela Spearman
Angela Spearman

Angela Spearman is a journalist at EzineMark who enjoys writing about the latest trending technology and business news.

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Angela
Angela Spearman

    Angela Spearman is a journalist at EzineMark who enjoys writing about the latest trending technology and business news.

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