Financial Compensation in a Car Accident
After a car accident, phrases like "economic damages" or "pain and suffering" are often used, but their meanings can be unclear. Determining fair compensation involves a careful process, considering both current and future losses.
Calculating financial damages takes into account what has already been lost and potential future costs. Compensation generally falls into two categories: economic damages and non-economic damages.
Economic Damages
Economic damages refer to measurable financial losses. When filing a personal injury claim, attorneys consider these losses to ensure fair compensation.
Categories of Compensation
- Economic damages: measurable financial losses
- Non-economic damages: non-measurable losses, such as pain and suffering
Calculating financial damages after a car wreck is a careful process that takes into account both what you’ve already lost and what the accident may continue to cost you in the future.
Author's summary: Fair compensation is determined by careful calculation of losses.