Non-Verifiable Losses – Intangibles
In a previous article, Evaluating Damages for Personal Injury Claims, Part I – Economic Losses, I explained that a personal injury attorney’s initial objective is to see that their client is fairly compensated for verifiable economic losses resulting from the negligence of another party. Economic losses include medical expenses, a loss of earnings, disability costs, property damages and burial and funeral expenses connected to wrongful death claims. These are financial losses that can be receipted and projected with a calculator and by economic analysis. After counsel has determined claimants estimated economic losses, he or she will ascertain if their client has suffered non-economic losses.
What are non-economic losses?
Non-economic losses are often termed “pain and suffering” and are difficult to assign a dollar value to because they are subjective and non-verifiable. Non-economic losses of pain and suffering can severely hamper the “quality of life” experience. They are tort damages for harms and may include physical trauma and impairment, emotional distress, injury to reputation, humiliation, disfigurement, sterility, loss of organs, severe pain, loss of enjoyment of life, death of a loved one, loss of affection and many other intangibles. An experienced personal injury lawyer will use his knowledge of trauma and injuries to fairly evaluate client’s non-economic losses.
Though any plaintiff may be eligible to recover for non-economic damages, they become especially important to persons who do not work outside of the home such as children, the elderly and homemakers. For example, a homemaker’s love, guidance, companionship and services provided to his or her children and spouse are not easily measured by a dollar amount, and might only be compensated via non-economic damages.
Frequently, accidents change the lives of victims and their unprepared loved ones in significant ways. A spouse’s injuries from a traumatic car, motorcycle or trucking accident can, and often does, place a serious marital strain on even the best of marriages. And consider the loss and affection of a beloved child deceased because of the negligence of another. Parental bereavement can expose profound emotional distress so acute that it may become impossible for even a well-grounded marriage to survive the wrongful death of a minor or adult child. These scenarios are monetarily immeasurable “quality of life” issues and should not be confused with punishing or punitive damages. The availability of “Non-economic” damages offers a recovery vehicle for just, fair and reasonable losses.
Experienced personal injury and wrongful death attorneys
If you or someone you know has been injured in a motor vehicle accident, it’s important to speak with an experienced personal injury attorney in Indianapolis, IN right away — someone who understands how your injuries may affect your life going forward — and before the statute of limitations runs. Ward & Ward Law Firm has over 80 years of combined experience in personal injury law including accident and wrongful death claims. Our firm receives no legal fees or expenses unless we collect damages on your behalf. Call Charlie Ward today at 317-639-9501 for a free evaluation of your claim. Our attorneys are available to speak with you.