How Economic vs. Non-Economic Damage Compensation Works

If you have experienced a slip or trip and fall accident, find an attorney to help you receive monetary compensation for your injuries. A trip and fall lawyer from Philly Slip and Fall Guys will help you calculate your damages to receive maximum compensation. Here is information about how economic and non-economic damages work:

Type of Injuries

In personal injury cases, the injuries sustained in an accident directly influence the economic and non-economic damages you may claim. Injuries after a slip or trip can range from minor bruises and lacerations to brain and spinal cord damage. Other injuries include broken bones, whiplash, torn ligaments, and neck and back pain. These injuries can result in hospital bills, time away from work, and a negative impact on your quality of life. More severe accidents have the chance of resulting in a permanent disability. Even if you do not think you were injured at the time of the accident, seek medical attention anyway to document the incident further.

A trip and fall lawyer from Philly Slip and Fall Guys will review your case to help determine who is liable for your injuries. If the property owner is proven to have acted negligently, then you should receive financial compensation from their insurance company. Compensation is awarded through settlement or after a court case.

Economic Damages

Economic or compensatory damages refer to monetary compensation for quantifiable factors. These include:

• Medical bills: Economic damages compensate you for medical expenses. These include the cost of the emergency room visits, imaging, tests, and follow-up appointments. Expenses related to rehabilitation and ongoing treatment are also included.
• Lost wages and income: A temporary or permanent injury disrupts your income by affecting your ability to work. Compensatory damages cover both your current and future lost wages. Philly Slip and Fall Guys will help you calculate the lost income for which you should be compensated.
• Home care or vehicle upgrades: A significant injury impacts your lifestyle. This may require making changes to your home or vehicle or hiring someone to drive you to appointments or assist you around your home. These expenses will be taken into account and factored into your claim.

You may encounter additional expenses as you prepare for your case or receive treatment for your injuries. If you have to drive to a hospital hundreds of miles away to be treated, the cost of gas or other travel expenses would be considered incidental expenses. Incidental expenses may be covered by your settlement or court reward if they can be proven to be part of your slip or trip and fall case.

Non-Economic Damages

Non-economic damages refer to the intangible costs after an injury, such as physical pain and suffering. If you are living with daily physical pain after an injury, non-economic damage compensation provides you with financial compensation for this pain. Other factors that impact compensation are emotional and mental anguish.

Experiencing and recovering from a debilitating injury after a fall can be a traumatic experience. There is the potential to develop emotional or mental disorders. These include post-traumatic stress disorder, depression, anxiety, or impaired memory. If you can no longer pursue your favorite hobbies due to loss of mobility or resulting emotional disorders, this can be taken into account for compensation. If your injuries have impacted your relationships with your loved ones, non-economic damages can compensate you for loss of companionship. Talk to one of our lawyers about the emotional difficulties you have experienced with your slip or trip injuries.

Damages Calculation

The compensation amount is determined after your lawyer assesses liability. Economic damages are calculated based on financial losses and out-of-pocket expenses due to your injuries. Non-economic damages are more complicated to calculate.

Two possible ways insurers calculate compensation for non-economic factors are the multiplier method and the per diem method. With the multiplier method, the insurer multiplies your financial losses by a set number. Numbers can range between 1.5 and 5, with serious injuries qualifying for the larger number. The per diem method involves the plaintiff receiving a flat rate for the number of days they have been or will be in pain. This often takes the form of a day’s wages.

To provide evidence for your case and assist with calculations, collect documentation related to your injury. This includes:

• Medical bills and reports
• Prescription receipts and over-the-counter medicine receipts
• Injury photos
• Missed activities

One of our lawyers at Philly Slip and Fall Guys can help estimate your payout by assessing the severity of your injury, economic factors such as medical expenses or lost wages, and other factors. We will negotiate with the insurance company so that you receive fair compensation. If the insurance company will not negotiate, we will take your case to court.

Contact a Trip and Fall Lawyer

Philly Slip and Fall Guys assists clients throughout Pennsylvania County and offers comprehensive consultations to assess your case. We are experienced in premises liability law, slip-and-fall cases, and trip-and-fall cases. Contact us today to set up a meeting with a trip and fall lawyer.