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Understanding Economic and Non-Economic Damages

In a personal injury settlement or jury award, compensatory damages are usually the main component. 

Although both of these damages attempt to restore the plaintiff in a personal injury action to their pre-accident state, they are fundamentally different types of damages with diverging methods of calculation. 

Read on to learn more about the different types of compensatory damages and how a Savannah personal injury lawyer can help make your claim a success.

What Are Economic Damages?

Economic damages refer to the actual financial losses that you can incur as the result of an accident or injury caused by another party. 

Because economic damages represent concrete losses, they are usually easy to calculate. 

Some examples of the types of economic damages that are frequently included in personal injury settlement include:

  • Medical bills
  • Lost income
  • Loss of future earning capacity
  • Property damages

Medical expenses are often one of the big-ticket items in a personal injury settlement. This is because receiving adequate care for your injuries in a hospital setting can be highly costly—even if you have medical insurance. 

If you’ve been injured in an accident, you shouldn’t have to worry about how the cost of care will impact your finances. Visit a doctor for a full checkup—and then reach out to a personal injury lawyer with The Nye Law Firm for a free evaluation. 

What Are Non-Economic Damages?

Unlike economic damages, non-economic damages are not tied to a specific figure in your bank account. Instead, these damages refer to the more immaterial ways an accident can disrupt and upset your life and the things you enjoy. 

Some examples of non-economic damages include:

After an accident, it can be impossible to put a price tag on your ability to take a walk in the park, for example. However, if someone else’s negligence is to blame for this inconvenience imposed on your life, then non-economic damage compensation can help to bring closure. You can get help from an experienced attorney to learn more about these damages. 

Are There Other Types of Damages in a Personal Injury Case?

Although less common, one of the other major types of damages available to plaintiffs in a personal injury lawsuit is punitive damages.

Punitive damages “punish” the defendant in a case by imposing additional economic sanctions to be paid to the plaintiff. Punitive damages are determined in court, and can lead to a significant increase in the total overall compensation. 

Injured? A Personal Injury Lawyer Can Help

If you’ve been injured in an accident caused by someone else, you know how life changing an injury can be. Working with a personal injury lawyer from The Nye Law Group can help you understand how much your claim is worth and work doggedly to pursue every penny you’re owed. 

Call us at 912-200-5230 or fill out the form below to schedule a free consultation. 

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CONVENIENT LOCATIONS Throughout the Southeast

402 West Trade Street,
Suite 112
Charlotte, NC

704-862-4177 get directions

2008 Whitaker Street
Savannah, GA 31401

912-732-0249 get directions

402 West Trade Street,
Suite 112
Charlotte, NC

704-862-4177 get directions

2008 Whitaker Street
Savannah, GA 31401

912-732-0249 get directions
View all locations
CONTACT US

NO PRESSURE. SPEAK TO AN ATTORNEY. NO HIDDEN FEES.

* All Fields Required

Or Call 855-856-4212