Some personal injury cases can be divided into two different categories: economic and non-economic. At Longo Biggs Injury Law, LLC, we can help determine which type of damages your case has. Here is more information on these damages and our personal injury attorney:
Economic damages in a personal injury case typically refer to tangible, quantifiable losses that can be easily calculated. These damages are generally associated with specific monetary amounts. They can cover a variety of aspects related to the financial impact of an injury. Common examples may include medical expenses and lost wages.
Medical expenses may include hospital bills, prescription medications, and rehabilitation services. If an injury requires ongoing treatment, the future anticipated medical costs may also be factored into the economic damages awarded. Property damage, relevant in cases involving car accidents or other incidents where personal property is damaged, can include repair or replacement costs.
Lost wages are another significant component of economic damage. If the injury prevents the victim from working, the compensation may cover the income lost during the recovery period. In more severe cases where the injury results in a permanent disability affecting future earning capacity, the economic damages awarded may reflect the long-term financial impact on the individual and their family.
Non-economic damages are typically more abstract and cover intangible losses that are challenging to quantify precisely in monetary terms. These damages can address an injury’s emotional and psychological toll on an individual’s quality of life. Pain and suffering, emotional distress, loss of consortium, and loss of enjoyment of life are examples of non-economic damages.
Pain and suffering generally refer to the physical and emotional distress experienced by the victim due to the injury. This can include immediate pain and any lasting discomfort, disability, or reduced quality of life. Emotional distress may consist of the psychological impact of the injury, such as anxiety, depression, or post-traumatic stress disorder.
Loss of consortium is a unique type of non-economic damage that may apply to the spouse or family members of the injured party. It typically refers to the loss of companionship, emotional support, and intimacy that may result from the injury. Loss of enjoyment of life generally recognizes the impact the injury has on the individual’s ability to engage in activities they once enjoyed. Examples can include things like hobbies and social interactions.
Personal injury cases often involve a combination of economic and non-economic damages. Our personal injury attorney tries to achieve a significant fair balance for comprehensive compensation. Economic damages are generally straightforward to calculate, but determining the value of non-economic damages requires a more specific approach. Factors such as the severity of the injury, its impact on daily life, and emotional distress play a significant role in assessing non-economic damages.
At Longo Biggs Injury Law, LLC, we can help determine what damages to pursue in your personal injury case. We can help out whether they are economic, non-economic, or both. Contact our personal injury attorneys today to learn more about assessing economic versus non-economic damages.