From Garden City to Huntington and all the way to The Hamptons, Long Islanders sometimes find themselves injured. When these injuries are due to someone’s negligent act, they add a new dimension of frustration to an already tragic event. If you’ve been injured in an accident that wasn’t your fault, contact a Trantolo lawyer in Long Island.
During a free consultation, one of their experienced personal injury attorneys can help to ensure that you receive a settlement that gives you every dime you’re entitled to. Give them a call today. By law, they’re entitled to seek compensation for their damages; however, many are unaware that there’s more to seek than just medical bills.
What Are Personal Injury Damages?
In Long Island, the victims of an accident they played no part in causing have the legal right to seek compensation by filing a New York personal injury lawsuit. While most personal injury lawsuits never see the inside of a courtroom and are usually settled out of court, it’s still important to know what you have a legal right to seek.
Victims can be injured by an accident in three ways: physically, mentally, and financially. The best strategy for getting all you deserve in a personal injury settlement is first to understand what you can claim and hire an experienced Long Island attorney.
What Are Economic Damages?
In a personal injury lawsuit, damages are hardships that the victim faces due to the negligent act of a person, product, or entity. Most accident victim’s main priority when filing a personal injury lawsuit is to ensure that their out-of-pocket expenses are paid for in full by the at-fault party. Some economic damages are obvious, while others are not. Examples of economic damages can include:
- Hospital bills
- Medical treatments
- Physical therapy costs
- The cost of medications, prescribed and over-the-counter
- Lost wages: past, present, and future
- Diminished earning capacity
- Property damage or loss
It’s only a partial list of economic damages. Your personal injury attorney will examine your case to see if you’ve covered all of your bases.
What Are Non-Economic Damages?
Unlike economic damages that are fairly easy to place a monetary amount on, non-economic damages can be tricky to value. This isn’t to say that it can’t be done, but it will be left up to your personal injury attorney to negotiate an amount with the defendant’s insurance company. Compensation for these types of damages covers the extreme changes to a victim’s daily life. Non-economic damages can include:
- Physical pain
- Emotional pain and suffering
- Emotional distress
- Depression, anxiety, and PTSD
- Loss of enjoyment of life
- Loss of consortium
Other types of non-economic damages could be specific to different types of accidents. An experienced personal injury lawyer will ensure that all of your non-economic damages are included.
How Are Damages Calculated?
Economic damages are fairly easy to calculate. Medical-related expenses, part of which were covered by the accident victim’s medical insurance, will be paid for in the amount of what they had to pay, typically their deductible amount. Copays, the cost of travel to and from medical appointments, and any out-of-pocket expenses are also easy to calculate. Non-economic damages are handled a bit differently.
Although there isn’t an easy calculator to use for non-economic damages, there are two methods frequently used. The amounts and method will be determined either by a jury for a court trial or by the two legal teams during the settlement negotiations.
- Multiplier method – Using this method, a number is selected between 1.5 to 5. More severe injuries and changes to a victim’s life will result in a higher multiplier. This number is then used to multiply the economic damages costs to determine what the non-economic costs will be.
- Per diem method – Using the per diem method, a daily monetary amount will be chosen based on the severity of the injuries and will multiply that amount by the number of days the victim has or is expected to suffer from the injury, physical or emotional.
Economic vs. Non-Economic Damages Differences Explained
After an accident, victims’ lives are sometimes unalterably changed forever. In Long Island, they have the right to seek compensation, both for economic and non-economic damages. While the expense of injury-related expenses can be easy to tally, those for non-economic damages can prove to be much more challenging and debatable. This is left up to either a jury for a court trial or for both legal teams during the settlement negotiations.
It’s best to hire an experienced New York personal injury attorney to ensure accident victims receive everything they deserve. They have the know-how and savvy to make sure victims get compensation for all of the damages.
Also read: Facts About Nominal and Effective Interest or Nominell Og Effektiv Rente
