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What Is the Difference Between Economic and Non-Economic Damages?

In personal injury cases, the injured party—the plaintiff—is often looking to seek compensation for the damages they have sustained. While they understand exactly what this means in terms of simply getting compensation, but they may not understand how it comes about.

When it comes to seeking compensation, there are multiple types of damages that you may be able to recover. The main focus in court typically lies on both economic and non-economic damages. Our New York personal injury attorneys explain what this means.

Economic Damages

Not many people can differentiate the two terms, but economic damages are exactly what they sound like. They’re damages that have economic impact on the patient. These damages have direct monetary value.

Some of the more common factors in economic damages include the medical expenses associated with the damages, lost income from being unable to work, and damage to your property. When these numbers are calculated, the courts can determine an adequate amount for economic damages.

Non-Economic Damages

Non-economic damages are different in that they are designated by the court to provide victims with additional compensation for those damages that do not have a direct monetary value. These amounts can be a bit more difficult to determine.

Non-economic damages typically cover what would be considered pain and suffering, emotional trauma, and other damages sustained that may have resulted from negligence. This is more about holding the negligent party accountable for their actions.

At Levine and Wiss, our team recognizes the potential damages our clients may incur as a result of an accident. We work hard to determine the severity of your injuries and present a case to seek the maximum compensation available to you.

It is our ultimate goal to help you get out of this situation in the most positive manner. You deserve to have strong legal representation committed to your best interests. That’s exactly what you’ll get when you choose our firm to protect your rights.

Contact us today at (888) 973-0344 and learn more about our firm and how we may be able to help you.