Car accidents create bad situations for victims as they deal with injuries and more. It's important to take action after a wreck so that you can receive the compensation you need. While being paid money won't take away the pain, the driver that caused the accident owes you money for several forms of damage. The damage to your vehicle is only the beginning. Read on to find out more about those damages as well as how one confusing form of damage is paid.
Economic and Non-economic Damages
The outcome of an accident with injuries can result in two types of damages. Economic damages refer to losses that have a specific dollar figure. That might include:
Non-economic damages are different. They are not attached to a specific dollar amount but are calculated based on certain factors.
Pain and Suffering Damages
Pain and suffering is meant to pay victims for the way the accident has affected their lives in general. It encompasses physical pain, discomfort, and the emotional fall-out of an accident. Some people experience a great deal of mental distress, from anxiety to mood disorders.
Pain and Suffering Factors
There are several ways to calculate how much a victim should receive in pain and suffering and what follows is just one common manner. Factors are used to multiply the dollar amount of the victim's medical expenses. For example, if your medical expenses are $75,000 and the factor is 3, your pain and suffering payment might be $225,000. Factors (also known as a general damages multiplier) range from 1.5 to 5. The greater the impact of the accident, the higher the factor.
What the Factors Mean
Since the factor used can mean so much to the calculation, it's interesting to note that what most influences the factor are physical injuries and medical treatment. There is a direct line between this issue and the factor used. So, factors are influenced by:
Speak to personal injury attorneys like Kevin Renfro to find out more.
Hello, I'm Christina Miller. Have you ever been fascinated with why the law works the way it does? Ever since I was in junior high, I had an intense interest in anything related to our legal system, whether it be a crime drama on television, a judge show or a legal case covered on the news. I followed it all. As time progressed, I began learning about how the actual legal system worked and not just the fictionalized version of our legal system. This has lead me to start writing my own blog posts about law that I hope will help others.