Accidental deaths are one of the most common causes of death in the US. In 2021, accidental deaths ranked fourth among the most common causes of death. Not only deaths but also preventable injuries have been on the rise for some time now.
The surviving victims will sustain many types of losses. All of the victims’ losses can be categorized into two types:
- Economic damages
- Non-economic damages
Economic damages are the financial losses incurred by the victim as a result of the accident. Economic damages are easy to calculate and prove. On the other hand, proving non-economic losses requires the expertise of reputed law firms like Steven A. Bagen & Associates, P.A.
Understanding Non-Economic Losses
Non-economic damages are the damages that are done to the body and mind of the victim. Economic damages compensate for the losses you incur to treat an injury, while non-economic damages compensate for the pain you feel because of the injury.
Following are some of the common types of non-economic losses:
- Pain and suffering
- Emotional distress
- Loss of enjoyment of life
- Loss of quality of life
- Loss of consortium
- Scarring and disfigurement
- Reputation damage
How to Calculate Non-Economic Losses
When calculating economic damages, all you have to do is add all your expenses together. But non-economic damages are not as simple as that. Non-economic damages are not quantifiable. These damages are subjective, so one cannot put a definitive value on these types of damages.
Lawyers use two methods to calculate non-economic damages:
- Per-diem formula
- Multiplier methods
Per-Diem Formula
In this method, a dollar value will be assigned to your days. You will get this money until you recover completely.
Example: Imagine you are a car accident victim and you have sustained broken bones, which prevent you from going to work by causing immense pain. So you are assigned a dollar value of $150 per day until the day you feel the pain.
The total amount you will get will be $1500 if you experience pain for 10 days.
The problem with this method is that there is no definitive method to assign the per-day dollar value.
Multiplier Method
The multiplier method is much simpler than the per-diem formula. In the multiplier method, you will be assigned a number between 1.5 and 5. Your total economic losses will be multiplied by the assigned number.
For example, if you have obtained $25,000 as compensation for your economic losses and you have been assigned 3 as your multiplier, your total non-economic losses will be $75,000.
The number will be assigned after considering many factors, such as:
- The impact of your injuries on your daily life
- The severity of your injuries
- How long will it take to recover completely?
A high number will be assigned in situations where the negligence is egregious, and you have suffered serious losses.
How to Prove Non-Economic Damages
As said, proving non-economic losses is much more complex than proving economic losses. However, you can use the following strategies to prove your non-economic losses:
- Keep a journal. Documenting your recovery process is a great way to prove non-economic losses
- Get a psychological statement and a medical statement from your doctor
- Bringing in experts to testify for you is another great way to prove non-economic losses
- Statements from friends and family about your behavior can help your case
The best way to prove non-economic losses is to hire a lawyer. For a lawyer, proving non-economic losses is just another day.
Wrapping Up
An accident not only causes financial losses but also non-financial losses. Luckily, you can obtain compensation for both types of losses.
You need the help of an experienced personal injury lawyer to prove the elements of personal injury law and obtain fair compensation.
