Ever wondered what happens after an accident? The financial and emotional strain can be huge. At InjuryClaimCalculator.us, we get how tough it is to deal with a personal injury claim.
Knowing the difference between economic and non-economic damages is key. This is important for getting the right compensation, says Abel Law Firm.
We want to make things clear for you. By understanding economic and non-economic damages, you can better handle your case. This way, you can get the compensation you deserve.
What counts as economic damages in an injury claim
Economic damages are key in personal injury claims. They cover direct financial losses from an accident. These damages help victims get back what they lost financially because of their injuries.
Figuring out economic damages involves looking at many things. This includes medical bills, lost wages, and how much money someone might lose in the future. These are easy to figure out because they’re based on real costs from the accident.
Examples of Economic Losses
Economic losses can be wide-ranging. Here are some common ones:
- Medical Expenses: Costs for hospital stays, surgeries, meds, and rehab.
- Lost Wages: Money lost because you can’t work after an accident.
- Loss of Future Earning Capacity: How injuries affect your future earning power.
- Rehabilitation Costs: Expenses for physical and occupational therapy, and more.
These losses are important in a personal injury claim. They affect a victim’s money and well-being. Knowing what economic damages are helps victims in their claims.
At InjuryClaimCalculator.us, we help people understand personal injury claims. We want to give victims the knowledge to make smart choices about their cases.
What counts as non economic damages in an injury case
After an injury, victims often face non-economic damages. These are losses without clear dollar values, like pain and suffering. They can greatly affect a person’s life quality.
Non-economic damages are subjective and can differ greatly. They aim to compensate for physical and emotional distress. At InjuryClaimCalculator.us, we focus on accurately assessing these damages for fair compensation.
Examples of Non-Economic Losses
Non-economic losses can show up in many ways, including:
- Pain and Suffering: Compensation for the physical pain and discomfort endured by the victim.
- Emotional Distress: Damages for the psychological impact of the injury, such as anxiety, depression, or PTSD.
- Loss of Enjoyment of Life: Compensation for the inability to enjoy activities and hobbies that were once a part of the victim’s life.
- Physical Disfigurement: Damages for any permanent physical changes or scarring resulting from the injury.
- Loss of Consortium: Compensation for the impact on the victim’s relationships, specially with their spouse.
Understanding non-economic damages requires knowing the victim’s experiences and injury effects. We help clients document their losses and build a strong case for fair compensation.
Knowing about non-economic losses helps injury victims in the claims process. They can seek the compensation they deserve.
How do courts put a value on each type of loss
Courts have different ways to figure out the value of economic and non-economic damages in personal injury cases. For economic damages, they just add up the actual costs and losses caused by the injury.
But, non-economic damages are harder to value. They use methods like the multiplier and per diem methods. The multiplier method multiplies economic damages by a number between 1.5 and 5. This helps cover non-economic losses. The per diem method gives a daily rate for pain and suffering, then multiplies it by the number of days suffered or expected to suffer.
At InjuryClaimCalculator.us, we know how complex these calculations can be. We consider each case’s details, like the injury’s severity and its life impact. This helps courts fairly value damages. It’s key to make sure injury victims get the right compensation.