CAR ACCIDENT RECOVERY: ECONOMIC AND NON-ECONOMIC DAMAGES
After a car accident, it’s understandable that you want to pursue compensation for the injuries and property damage you sustain. However, you have to remember this is a complicated situation, and it’s vital to have a lawyer who can explain what compensation you may recover after the crash.
In personal injury law, you may be able to recover two different types of compensation associated with a crash, including economic and non-economic damages. Understanding the differences between these two can help you recognize their importance to your claim and work with a lawyer to determine your claim’s value.
WHAT ARE ECONOMIC DAMAGES?
Economic damages account for any financial losses that you may experience because of the crash. The money you spend or the income you are unable to earn can make up economic damages. Having a record of all expenses is vital to building a claim with economic damages, and it can consist of the following losses:
- Medical bills, including the costs of treatment, procedures, medication, in-patient stays, and more
- Lost income, including the amount you would have received from the date of your injury, as well as future lost income if you’re unable to go back to work
- Property damage, including the costs of repairing your vehicle
WHAT ARE NON-ECONOMIC DAMAGES?
Non-economic damages become more complicated to understand because they don’t involve a direct monetary value lost. Instead, non-economic damages consider your pain and suffering and mental anguish following an accident.
If a crash causes you to lose enjoyment in things you once did before the accident, this can factor into the compensation you recover. In many situations, the more severe your injuries, the more likely it is for you to pursue maximum compensation with non-economic damages.
Our Los Angeles personal injury attorneys at Levin & Nalbandyan, LLP are here to protect your rights. We’ll explain your options and discuss your ability to pursue compensation. We’ll then take the necessary steps to hold the negligent party accountable on your behalf.