Personal injury attorneys play a crucial role in helping victims navigate the complex legal landscape following an accident. One of their key responsibilities is explaining the difference between economic and non-economic damages, two types of compensations that a victim may be entitled to after an accident.

Economic damages are quantifiable financial losses that can be directly linked to the accident. These include medical bills, lost wages due to time away from work, property damage, and future medical expenses related to ongoing treatment or rehabilitation. Economic damages are typically easier to calculate because they involve actual monetary expenditures or losses. They serve as reimbursements for out-of-pocket expenses incurred by the victim as a result of the injury.

On the other hand, non-economic damages refer to intangible losses that do not have a specific dollar value attached to them but significantly affect the quality of life of the victim. These include pain and suffering, emotional distress, loss of enjoyment in life activities, disfigurement or physical impairment and even loss of companionship if the injury has affected relationships with loved ones.

Non-economic damages are more subjective than economic ones since they involve personal experiences which cannot be easily quantified in terms of money. The calculation for these types of damages often relies on various factors such as severity and duration of pain, extent of physical limitations caused by injuries, impact on daily living activities among others.

While both types play an important part in personal injury claims process; understanding how they differ is crucial when seeking compensation after an accident. It enables one to make informed decisions about potential settlements offers or jury awards.

Personal injury attorneys guide their clients through this process by gathering evidence such as medical records and employment data for economic damages while also documenting testimonies about how injuries have affected their client’s lives for non-economic ones. They use their expertise in negotiation tactics coupled with knowledge about similar cases within their jurisdiction to ensure fair compensation is awarded.

In conclusion, economic and non-economic damages offer different forms of compensation to a victim after an accident. Economic damages provide financial relief for quantifiable losses while non-economic damages acknowledge the intangible suffering that victims endure. Personal injury attorneys play a key role in helping clients understand these differences and fight for their rightful compensation. Their expertise is invaluable in navigating the complexities of personal injury law, ensuring that victims are not short-changed in their pursuit of justice.

Munley Law Personal Injury Attorneys
1617 John F Kennedy Blvd #1690, Philadelphia, PA 19103
12155157747