What Are Noneconomic Damages?
Evaluating your personal injury claim means assessing both economic and noneconomic damages. But, what exactly are noneconomic damages? Here, we offer the complete explainer.
Have you recently been injured? Was that injury caused by a third-party or entity – through negligence, recklessness or intent? At Nehora Law Firm, we help clients throughout Orange County recover compensation as a direct result of personal injury.
The compensation one receives, however, depends upon a wide variety of circumstances, many of which we explore below. Compensation is calculated as the sum of economic and noneconomic damages. But, what are noneconomic damages?
What Are Economic Damages?
Economic damages refer to direct financial loss. Loss of wages and medical expenses are, for example, the most common type of economic damage. In other words, economic damages are associated with their own financial value.
You can directly calculate the precise loss of wages and the precise cost of your medical treatment. In cases where this isn’t quite so clear, you can at least estimate your future loss of income based on past expenditure and/or loss.
This isn’t the case with these damages, though. Below, we list many of the common sources of what are considered noneconomic loss.
What are Noneconomic Damages?
As we can see, noneconomic damages are not monetarily quantifiable – that is to say, one cannot assign a specific financial value to these losses.
There is no empirical means by which one can accurately compensate for a “reduced quality of life”, though we understand, acknowledge and appreciate that a reduced quality of life is part and parcel of what constitutes a personal injury claim.
These damages include:
- Loss of love
- Loss of companionship
- Psychological distress
- Reduced quality of life
- Loss of sexual function
- Pain and suffering
At Nehora Law Firm, our personal injury lawyers and wrongful death attorneys can help you to recover maximum compensation from both economic and noneconomic damages throughout Orange County.
Evaluating Noneconomic Damages and Recovering Compensation
Personal injury claims are often left in the hands of insurance companies. Though this is a common route, it does come with its own risks and implications. Many insurance companies understate noneconomic damages.
In other words, they invariably pay much less than they should. Perhaps understandably, their assigned value often goes unchallenged – not least because the affected party is uncertain what value is considered reasonable.
That is why we encourage victims of personal injury to consult a qualified attorney to establish the most accurate compensatory value of their case.
What Are the Effect of Damages?
Personal injury claims, no matter what the source, can come with noneconomic damages.
Regardless of your accident, car and pedestrian accident, wrongful death, products liability, a construction accident or serious injury – our team in all areas of law can help you recover both the economic and noneconomic compensation you’re entitled to.
We understand that damages, and the loss of enjoyment of life that comes with them, are a serious and necessary consideration. Our Orange County lawyers help to establish the most accurate value for your case.
If you have been affected in this way, no matter what the personal injury cause, we recommend that you consult a qualified attorney. Call us at (949) 629-4349 to receive a free consultation to help you determine whether you have a case. Alternatively, you can fill out our online form and one of our attorneys will be in touch with you very shortly. Noneconomic damages should not be underestimates. They cause real and lasting damage and are, for that reason, worthy of serious consideration.