Non-Economic & Economic Damages Explained

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Injuries and accidents can leave a trail of damage that goes beyond just physical or emotional harm. This is why in most, if not all, personal injury claims, the victim seeks financial compensation to cover those damages.

When it comes to personal injury claims, compensatory damages are often categorized as non-economic and economic. So what does this mean, and why is it important to hire an experienced personal injury attorney to help win compensation?

Non-economic damages

Non-economic damages essentially cover ways in which one’s lifestyle or quality of life have been affected. These include emotional distress, pain and suffering, permanent injuries like paralysis or loss of limb, inconvenience, and more.

Economic damages

Economic damages cover the exact monetary losses that occurred due to an accident or injury. These can include hospital bills, doctor visits, medication costs, income loss due to not working, and more. These are essentially any financial pain points that are incurred due to an accident.

Caps on non-economic damages and Florida

Because non-economic damages aren’t as clear to measure as economic, some states have caps put in place for them. These often apply to medical malpractice suits, and in Florida, there used to be caps on non-economic damages. These were eventually ruled unconstitutional and are no longer in place, meaning there are no limits for non-economic damages in Florida.

It’s important to note that compensatory damages are different from punitive damages, which do have caps on them.

Why you need an attorney

Proving negligence is the cornerstone of personal injury cases and winning compensation, but it is difficult without an experienced personal injury attorney. If you’ve been in an accident, contact us at Ginnis & Krathen, P.A.. Our experienced team offers free consultations, and if we don’t win your case, you don’t pay anything.

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