Knowing the difference between economic and non-economic damages helps you understand the full value of your claim and prevents you from receiving less than you deserve.
At Fox Injury Law, we’re here to clarify these terms and explain how they apply under Georgia law. Keep reading for more from our Tucker personal injury lawyers.
What are economic damages?
Economic damages, also known as special damages, refer to the tangible, measurable losses that arise directly from your injury. These damages are based on actual expenses and financial losses, making them relatively straightforward to calculate.
Examples of economic damages
- Medical expenses:
- Hospital bills, surgeries, and doctor visits.
- Rehabilitation, therapy, and future medical care costs.
- Lost income:
- Wages lost due to time off work during recovery.
- Loss of earning capacity if your injuries prevent you from returning to your previous job or working altogether.
- Property damage:
- Costs to repair or replace damaged property, such as a vehicle in a car accident.
- Other out-of-pocket expenses:
- Transportation costs for medical appointments.
- Costs for household help or childcare while you recover.
What are non-economic damages?
Non-economic damages, often referred to as general damages, compensate you for the intangible, non-financial impacts of your injury. These damages are more subjective and require careful evaluation, often relying on testimony and legal expertise to determine their value.
Examples of non-economic damages
- Pain and suffering:
- Physical pain and emotional distress caused by your injuries.
- Emotional distress:
- Anxiety, depression, post-traumatic stress disorder (PTSD), or other psychological effects of the incident.
- Loss of enjoyment of life:
- Inability to participate in hobbies, sports, or other activities you once enjoyed.
- Loss of consortium:
- The negative impact of your injury on your relationship with your spouse or family.
- Disfigurement or permanent disability:
- Compensation for visible scars, loss of mobility, or other permanent effects of the injury.
Key differences between economic and non-economic damages
Quantifiability
- Economic damages are based on objective evidence like bills, receipts, and financial records.
- Non-economic damages are subjective and rely on testimony, expert evaluations, and legal arguments.
Purpose
- Economic damages aim to reimburse you for the financial losses you’ve incurred.
- Non-economic damages address the emotional, psychological, and personal impact of your injuries.
Caps on damages
- In Georgia, there are no caps on non-economic damages in most personal injury cases, except for medical malpractice claims, which have specific limits (O.C.G.A. § 51-13-1).
- Calculation:
- Economic damages are calculated by totaling up actual expenses and losses.
- Non-economic damages often require legal strategies, such as using a multiplier method (multiplying economic damages by a factor based on the severity of the injury) or presenting compelling testimony about the injury’s impact.
How Georgia law addresses economic and non-economic damages
Georgia law allows plaintiffs in personal injury cases to pursue economic and non-economic damages. The goal is to ensure you are made whole, compensating for your injury’s financial and emotional consequences.
Modified comparative negligence in Georgia
Under Georgia’s comparative negligence rule (O.C.G.A. § 51-12-33), your ability to recover damages may be affected if you are found partially at fault for the incident. However, as long as you are less than 50% responsible, you can still recover compensation, though your percentage of fault will reduce your award.
How Fox Injury Law can help
At Fox Injury Law, we understand the complexities of calculating and pursuing both economic and non-economic damages. Our team will:
- Investigate your case: Gather evidence to support your claim for both types of damages.
- Work with experts: Partner with financial and medical experts to accurately calculate your losses.
- Advocate for maximum compensation: Ensure all aspects of your suffering are accounted for in your settlement or award.
Injured? We’re here to help.
So, what is the difference between economic and non-economic damages? Economic damages cover measurable financial losses, while non-economic damages address your injury’s personal, emotional, and psychological impact. Both are critical to ensuring you receive fair compensation.
If you’ve been injured and want to ensure all damages are properly addressed, contact Fox Injury Law today. Let us fight for the compensation you deserve while you focus on your recovery.
