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 financial compensation involves a careful process, considering both current and future losses.
When filing a personal injury claim, compensation falls into two categories: economic and non-economic damages. Economic damages refer to measurable financial losses.
- 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: Determining car accident compensation involves economic and non-economic damages calculation.