Suffering injuries in traffic accidents can change your life completely. In addition to the physical pain, many victims face medical expenses, lost wages, and a long and distressing recovery process. If you or a loved one has been seriously injured in Dallas or the Metroplex area, it is important that you understand how economic and non-economic damages are calculated in these cases.
Understanding the subject can help you make informed decisions and pursue the compensation you deserve. In this article, we explain the differences between these two types of damages and which factors are considered when determining their value.
What Are Economic Damages?
Every year, thousands of people are seriously injured or lose their lives in traffic accidents. In 2020 alone, 38,824 deaths were recorded in motor vehicle crashes in the United States, according to data from the National Highway Traffic Safety Administration (NHTSA). This equals a rate of 1.34 fatalities per 100 million miles traveled, the highest since 2007. These figures reflect not only the human impact but also the enormous economic burden faced by victims and their families.
Economic damages represent the tangible financial losses a person suffers after a traffic accident. In other words, they are expenses that can be documented and calculated with precision. Some examples include:
- Medical bills (hospitalization, surgeries, medications)
- Rehabilitation and physical therapy
- Lost wages due to an inability to work
- Property damage (such as your vehicle)
- Transportation costs for medical appointments
In traffic accident injury cases, it is essential to keep all receipts, medical records, and income documentation to support your claim.
What Are Non-Economic Damages?
Unlike economic damages, non-economic damages do not have a fixed value or an invoice to support them. They refer to the emotional, psychological, and subjective impact that a serious injury leaves on your life. Common examples include:
- Pain and suffering
- Anxiety, depression, or post-traumatic stress
- Loss of quality of life
- Loss of mobility or independence
- Effects on family or marital relationships
Although these damages are more difficult to calculate, they should not be underestimated. Texas law recognizes their value and allows them to be claimed in traffic accident injury cases.
How Economic Damages Are Calculated
To determine these amounts, concrete evidence is used, such as:
- Medical receipts and invoices
- Pay stubs or tax returns
- Vehicle repair estimates
- Reports from financial or health experts
In some cases, if the injury affects your ability to earn income in the future, future lost wages and diminished earning capacity may also be calculated. This requires expert opinions to project the long-term impact.
How Non-Economic Damages Are Valued
Courts and insurance companies typically consider:
- The severity of the injuries
- The duration of treatment and recovery
- Testimony from the victim and family members
- Psychological or psychiatric reports
- Impact on daily life (work, family, leisure)
Some attorneys use methods such as the “multiplier method,” which consists of multiplying the economic damages by a factor (between 1.5 and 5) depending on the severity of the case*.
The Importance of Legal Guidance
Calculating damages in traffic accident injury cases can be complex. Many times, insurance companies attempt to minimize compensation, especially in matters related to pain and suffering. An experienced attorney can:
- Gather and present key evidence
- Negotiate with insurance companies on your behalf
- Hire expert witnesses to support your case
- Ensure you receive fair compensation
Were you or a loved one seriously injured in a traffic accident in Dallas? Do not wait any longer to receive the legal guidance you need. Attorney Javier Perez offers a free initial evaluation of your case to analyze your situation and outline the best possible strategy. Allow us to help you seek justice and obtain the compensation you deserve.Call 214-499-0667 today, email [email protected], or complete the online form to receive personalized assistance in Spanish.
Javier Perez, Nuestro Campeón, is a lawyer with countless defenses of this type of case under his belt. He meets all these criteria and is ready to help you on your path to justice.