There are two common categories of damages in personal injury claims: economic and non-economic damages. In this blog, we break down the key differences between both types of damages, including how they are calculated and why they should be included in your injury claim. We also discuss the evidence you need to prove these damages and the benefits of working with an experienced injury lawyer.
At Galloway Jefcoat, our experienced personal injury lawyers in Lafayette are dedicated to helping you understand your rights and securing fair compensation.
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What Are Economic Damages in a Personal Injury Case?
Economic damages are the financial losses directly resulting from an injury. These damages are tangible and easily calculated.
Economic damages may include:
- Medical expenses: Costs for hospital visits, surgeries, prescriptions, and therapy.
- Lost wages: Income lost due to the inability to work during recovery.
- Future earning capacity: Estimated future income losses if the injury affects your ability to work long-term.
- Property damage: Costs to repair or replace damaged property, such as your car.
- Other out-of-pocket expenses: Costs for travel, home modifications, or other care services directly related to the injury.
Examples of non-economic damages include:
- Post-traumatic Stress Disorder (PTSD)
- Pain and Suffering
- Emotional Distress
- Anxiety
- Scarring and Disfigurement
- Loss of Enjoyment
- Depression related to the injury caused by the accident
- Physical impairment
- Loss of independence
- Diminished quality of life
How Are Non-Economic Damages Different From Economic Damages?
Economic and non-economic damages vary in many ways. You want to be sure you know the difference between the two when seeking compensation for a personal injury.
Here are five ways non-economic damages differ from economic damages:
- How They Are Calculated: Economic damages can be calculated with precision (medical bills, lost wages, property damage), while non-economic damages are subjective and cannot be precisely quantified (pain, emotional distress).
- What the Compensation Covers: Non-economic damages provide compensation for other, intangible losses like emotional distress. Economic damages, however, provide compensation for tangible financial losses.
- How You Prove the Damages: The evidence needed to prove non-economic damages, like emotional distress, PTSD, and anxiety, often relies on testimony and documentation about lifestyle changes from medical experts, friends, family and co-workers. Economic damages can be easily proven with bills, receipts, and wage statements.
- The Amount You Can Recover: In Louisiana, there are caps on non-economic damages, but only for medical malpractice cases. For other types of personal injury cases, damages are not capped. Economic damages typically are not capped.
- Calculating the Value: The methods for calculating the full value of these damages differ significantly. Economic damages tally the total costs, using things like invoices and employer records to determine the amount. Non-economic damages often employ more subjective methods like per diem (daily rate) or multiplier approaches.
What Evidence Do I Need to Prove Economic and Non-Economic Damages?
In addition to the differences already discussed, the evidence used to prove economic and non-economic damages are also vastly different.
Evidence to Prove Economic Damages
Proving the value of economic damages is fairly straightforward as there is documentation to support the financial losses you are claiming, such as:
- Medical bills, invoices, and receipts
- Pay stubs or income tax returns showing lost wages
- Expert testimony to determine your loss of future earning capacity
- Repair bills or replacement quotes for damaged property
Evidence to Prove Non-Economic Damages
There are no clear monetary values assigned to pain and suffering or other non-economic damages. However, there is still evidence and even documentation that can help to support those losses, including:
- Personal journals or diaries that document your daily pain levels and the overall impact on your life.
- Testimonies from family, friends, or colleagues about the impact on your life.
- Medical records showing the diagnosed emotional and psychological effects, such as depression or PTSD, caused by the accident and resulting injury.
- Expert testimony from psychologists, pain management specialists and other medical experts about the long-term effects of the injury.
What Is the Benefit of Hiring an Experienced Lafayette Injury Lawyer?
Hiring an experienced injury lawyer in Lafayette can significantly improve your chances of securing the compensation you deserve. Our highly qualified legal team knows how to navigate complex legal processes, manage negotiations and ensure that both economic and non-economic damages are properly valued.
- Guided legal advice: A skilled lawyer understands the nuances of personal injury law and can provide valuable guidance.
- Accurate damage calculation: They will ensure all economic and non-economic damages are fully accounted for.
- Negotiation skills: Our lawyers are adept at negotiating with insurance companies to get you the best settlement possible.
- Peace of mind: When you have one of our lawyers managing your case and protecting your rights, you are freed up to focus on your recovery.
- Access to resources: Galloway Jefcoat has connections with medical professionals, accident reconstructionists and other experts who build a compelling case on your behalf.
Contact Us at Galloway Jefcoat Today for a Free Consultation
If you have been injured and are unsure about your legal options, Galloway Jefcoat is here to help. Our Lafayette legal team will review your case and explain your rights. We also answer your questions in the free consultation we offer.
Our legal team is ready to guide you through each step of the legal process. We are deeply committed to holding at-fault parties accountable for their negligence and fighting for the full and fair compensation you deserve.
You do not have to face legal challenges alone. We are committed to fighting for justice on your behalf every step of the way. Worried about cost? We take cases on contingency, so there are no upfront costs or fees.
Let Galloway Jefcoat turn your wrong into right. 337-984-8020
June 11, 2021