What Are Economic Damages in a Personal Injury Case?

After an injury, many people struggle financially as they heal. They may not know how to fight for the compensation they deserve. This is where an experienced attorney can help clients the most. They know what damages are available and they can fight for their client’s rights.

So, what are economic damages in a personal injury case? How are they different from non-economic damages? Keep reading to learn more about both.

If you are facing a personal injury claim, you don’t have to navigate the process alone. Contact MattLaw Car Accident & Personal Injury Lawyers to request a consultation to determine if we can help.

What are economic damages?

Economic damages are the financial, tangible losses associated with a personal injury. These types of damages are quantifiable losses resulting from a personal injury accident. Examples are outlined below:

Medical expenses

The most common economic damage is medical bills from an accident. Medical expenses cover the current and future medical bills. Examples include:

• Hospital stays
• Surgeries
• Doctor’s office visits
• Rehabilitation therapy
• Medications

Medical expenses are calculated by reviewing medical records and bills. If future care is expected, attorneys work with medical professionals to determine what the care would look like. This is also factored into the requested compensation.

Lost wages

Another form of economic damages is lost wages. Lost wages refer to the lost income, sick days used, or other time off associated with the accident. Attorneys look at how much work time is lost and what benefits are used to determine how much compensation should be given for lost wages.

Future earning capacity

Future earning capacity is the potential income a person could have earned had the accident not happened. This is an economic damage that is calculated for those with long-term or permanent injuries.

When calculating future earning capacity, attorneys look at the typical career path for someone in the same role. What promotions would have likely happened? How many years until retirement? They assess all of this to determine this amount.

Property damage

In some accidents, property damage happens—for example, in car or truck accidents. Requesting compensation for property damage is another form of economic damage. This could include a vehicle or other personal belongings that were lost in an accident.

Other out-of-pocket expenses

Other out-of-pocket expenses are also a form of economic damages. These range depending on the specific case. However, they may include:

• Transportation expenses to get to medical or specialist appointments
• Costs for medical supplies or equipment (wheelchairs, shower chairs, etc.)
• Childcare needed during recovery
• Other household help needed during recovery

Attorneys look at the finances of an injured individual and what was spent to help them during recovery to calculate out-of-pocket expenses.

What are non-economic damages?

Non-economic damages are the intangible losses associated with an accident. These are more difficult to calculate because they can’t be proven with bills alone. When attorneys fight for non-economic damages, they typically have to secure:

• Expert witness testimony
• Testimony from people in the person’s life
• Medical records

Examples of non-economic damages include:

Pain and suffering

Pain and suffering are non-economic damages that cover the following:

• Chronic pain
• Permanent disability
• Mental anguish
• Disfigurement
• Inability to function as they did before

Pain and suffering are more difficult to calculate. It’s encouraged that anyone seeking this compensation speak to a personal injury attorney for guidance.

Mental anguish

Mental anguish refers to the emotional trauma from an accident and the resulting injuries. This could include trauma disorders, fear, humiliation from injuries, worries, stress and how the defendant’s actions have caused you to think about what happened to you.

Loss of enjoyment of life

Loss of enjoyment of life refers to the impact an injury has on one’s life. This could be a diminished quality of life or loss of pleasure in life. This is often awarded for serious or life-changing injuries.

What impacts how much someone can get in damages?

In Florida, there are a few things that could impact how much compensation someone can receive. Those are:

Comparative negligence law

There is a comparative negligence law in Florida. This means that if someone is found to be partially at fault for the accident, their damages could be reduced by that much. An example is if someone is found to be 15% at fault, then their compensation would be reduced by 15%.

If someone is found to be more than 50% responsible for the accident, they may be barred from recovery. An attorney can help claimants determine if they are eligible.

No-fault insurance policies

Florida follows a no-fault insurance law for motor vehicle injury claims. Injured individuals generally first seek payment through their own PIP coverage, which provides up to $10,000 in medical and disability benefits, before pursuing damages from the at-fault driver that fall outside PIP.

How can a personal injury lawyer help clients?

A personal injury attorney handles damages and insurance companies daily. They know how to calculate damages and fight for their client’s rights. Not only do they offer legal guidance for their clients, but they also often provide peace of mind. A personal injury attorney does some or all of the following:

• Negotiates with insurance companies on their client’s behalf
• Fights for their client’s rights
• Gathers evidence to strengthen claims
• Educates their clients on the legal process and their options
• Advocates for their clients
• Represents their clients in and out of court

It’s encouraged that anyone wondering about economic and non-economic damages speaks to an attorney. They can offer customized legal recommendations based on their specific situation.

Contact MattLaw Car Accident & Personal Injury Lawyers today for a free consultation

Now you understand economic damages in a personal injury case. As anyone can see, calculating damages for a personal injury claim can quickly become daunting. Insurance companies often fight against paying the compensation an injured individual deserves. This is why injured people usually benefit from an experienced personal injury lawyer by their side.

Are you curious about the types of damages for a personal injury claim? The team at MattLaw Car Accident & Personal Injury Lawyers wants to help. We offer free consultations to hear your unique situation and recommend legal options. Contact us today to request your consultation.