What Are Non-Economic Losses?

compensation Blackburn & Green - October 11, 2015

What Are Non-Economic Losses?In a personal injury case or claim, you can have two kinds of losses: economic and non-economic. Economic losses are fairly straightforward; they include expenses and costs you incurred as a result of the accident or injury. Economic losses can include medical bills, lost wages, and other direct economic losses from the injury or accident. You are entitled to be compensated for these economic losses in the form of damages. Non-economic losses are those that have no set monetary value associated with them. Compensation for both your economic and non-economic losses is called your actual damages. The non-economic portion of your damages will include compensation for your pain and suffering.

Pain and suffering is a term used to encompass the actual physical, emotional, and psychological pain, as well as the overall distress caused by the accident or injury. This compensation is awarded in a lump sum, meant to compensate you for the entire experience of the accident or injury. Because accidents and injuries can be traumatic, you can experience anxiety, depression, or otherwise unpleasant feelings for a long time after the incident. You will also undoubtedly experience physical pain and discomfort as a result of any injuries and will be inconvenienced by treating them. As a result of your injuries, you may also no longer be capable of enjoying the activities you used to enjoy. This is sometimes an overlooked part of the non-economic losses claim, however, it is one that could have the greatest effect on your life going forward. Injuries from an accident can also cause you to be limited in your present or future earning power, thus affecting your career. To what extent these will all change the value of your claim will depend heavily upon how much of an effect they will have on your life. For example, if a musician injures his hands in an accident, his life will certainly be impacted, as would a singer losing his voice. To get a better idea of what a likely outcome for your case would be, speak to an experienced personal injury attorney regarding your non-economic losses and how you can be compensated for them.

 

At Blackburn & Green, we know how to take care of our clients after an injury or accident and will fight tenaciously to obtain you fair compensation for your non-economic losses. We offer free initial consultations at one of our office locations or at your home or hospital room. Call (800) 444-1112 or (260) 422-4400 to be connected with one of our 25 convenient office locations across Indiana or fill out our online form to schedule a consultation. Contact Blackburn & Green for knowledgeable and caring legal counsel on your personal injury case today.

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