Car accidents can lead to significant physical, emotional, and financial challenges. In Texas, those injured may be entitled to compensation for both economic and non-economic damages.
Understanding the difference between these types of damages can help those injured in car accidents know what to expect when seeking compensation.
What are economic damages?
Economic damages refer to the financial losses that occur as a result of a car accident. These include medical expenses, lost wages, property damage, and other out-of-pocket costs. For example, if a car accident requires the injured party to seek medical treatment or causes them to miss work, those costs would fall under economic damages. Texas law allows individuals to recover these expenses to help make them financially whole.
What are non-economic damages?
Non-economic damages are meant to compensate those injured for the non-financial impact of an accident. These damages include pain and suffering, emotional distress, loss of enjoyment of life, and other intangible harms. Unlike economic damages, noneconomic damages are harder to quantify because they do not have a direct financial cost. In Texas, non-economic damages can vary widely depending on the circumstances of the accident and the severity of the injuries.
How Texas law handles damages
Texas law allows individuals injured in car accidents to pursue both economic and non-economic damages. However, non-economic damages can be more challenging to prove since they rely on the injured party’s personal experience and how the accident has affected their life. It is important to gather evidence, such as medical records and witness testimonies, to support a claim for both types of damages.
Seeking fair compensation after a car accident
Economic and non-economic damages can both play a crucial role in helping individuals recover from car accidents. Knowing the difference between these types of damages and how Texas law handles them can make a significant impact on a claim and the compensation received.