After an auto accident, victims can pursue liable parties to recover damages. Economic and non-economic damages can provide victims with monetary compensation
Economic damages are any kind of actual financial damage that occurs as a result of an accident. Economic damages are often easier to identify because there is documentation of the financial expenses and losses the victim has incurred. Non-economic damages are subjective, intangible losses caused by an injury. The value of non-economic damages often depends on unique circumstances.
Here are some examples of economic and non-economic damages:
Medical conditions
A victim of a personal injury may need to seek medical care. Depending on an injury, a victim could suffer from high medical debt, which is a type of economic damage. This could happen if, for example, a victim of an auto accident has to stay in a hospital to recover from their injuries.
However, staying in a healthcare facility is only one kind of economic damage people can recover. The victim may also need long-term health care, use medical equipment, take medication and go into rehab for their injuries.
Victims could recover non-economic damages if their injuries lead to the loss of enjoyment from life. Loss of enjoyment from life could happen if a victim, for example, can no longer use their hands and can no longer do their normal hobbies. A common kind of non-economic damage is pain and suffering, which is the physical and mental strain from an injury or accident.
Income difficulties
An accident could prevent a victim from earning a living wage. Lost wages are a kind of economic damage that people can recover from from an auto accident claim. Income loss can cause difficulties for families if the victim is the main provider. Mental trauma from a personal injury could also limit a victim’s ability to earn a living wage.
Legal guidance is available to help people pursue damages for their injuries and losses.
