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Understanding Economic, Non-Economic and Punitive Damages

Economic and non-economic damagesWhen you sue someone for a personal injury, you know that you may be entitled to compensation. What begins to be confusing is exactly what type of compensation you are entitled to. If you believe what you see on television, you assume that you are entitled to hundreds of thousands of dollars in compensation for your injuries. Don’t believe what you see on TV. In truth, you may be entitled to economic and non-economic damages and, in extreme cases, punitive damages. Here’s a brief overview of the three.

Economic

Economic damages are those for the money you lose. In other words, you will receive compensation for past and future medical care, the loss of earning, loss of the use of your property, the money you had to pay to have property repaired or replaced, the loss of employment opportunities, and even reimbursement for domestic services that were necessary.

Non-Economic

Non-economic damages are for non-monetary losses. These may include pain, inconvenience, emotional distress, loss of companionship and loss of enjoyment of life.

Punitive

Punitive damages are those that are awarded to a plaintiff as a way to punish the defendant. The purpose of punitive damages is to deter the defendant from intentionally or recklessly performing the same behavior that led to the lawsuit. Punitive damages are not as common as many people believe.

If you are hurt in an accident, seeking the advice of an attorney is your best option. An attorney experienced in personal injury law can review the details of your injury and advise you as to what compensation you may be entitled to. An attorney can also tell you if you have a case that is worth taking to court.

When you need a personal injury lawyer in North Carolina, reach out to our team. We are here for you and will provide you with a free initial consultation. Call our office today to speak with a member of our team. We are here to help you put the pieces of your life back together. Call us now or browse our website for more information about our firm.

Posted In: Punitive Damages
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