What is the difference between economic and non-economic damages?
Quick Answer
What is the difference between economic and non-economic damages?
Economic damages cover measurable financial losses like medical bills and lost wages, while non-economic damages compensate for intangible losses like pain, suffering, and emotional distress.
At Rafferty Domnick Cunningham & Yaffa, we help injury victims understand the full scope of compensation available. Damages in a personal injury case are classified into economic and non-economic categories. Both types are essential to achieve a fair and complete recovery.
Understanding Economic vs. Non-Economic Damages
1. Economic Damages
Economic damages refer to tangible, measurable financial losses caused by the injury. These include medical expenses, lost wages, future medical care, and property damage repair costs.
2. Non-Economic Damages
Non-economic damages compensate for intangible harms like physical pain, emotional suffering, and diminished enjoyment of life. These damages do not have a set dollar amount and are typically evaluated case-by-case.
Why Both Types of Damages Matter
| Damage Type | Purpose |
|---|---|
| Economic Damages | Reimburses direct, out-of-pocket financial losses tied to the injury. |
| Non-Economic Damages | Compensates for the physical, emotional, and psychological impact of the injury. |
Frequently Asked Questions
What are economic damages in a personal injury case?
They cover measurable financial losses such as hospital bills, lost income, rehabilitation costs, and other direct expenses.
What are non-economic damages in a personal injury case?
They cover subjective losses like emotional distress, physical pain, loss of companionship, and reduction in quality of life.
Can someone recover both economic and non-economic damages?
Yes. Most personal injury claims seek to recover both to ensure full compensation for the victim’s financial and personal losses.
Understand the Full Value of Your Injury Claim
In a personal injury case, compensation goes beyond medical bills. At Rafferty Domnick Cunningham & Yaffa, we help clients pursue both economic and non-economic damages—covering everything from lost income to emotional suffering. Contact us today for a free consultation and get the compensation you truly deserve.
