Nearly everyone in Nebraska has been involved in a minor car accident or knows someone who has. In fender-benders or other accidents with little to no damage, it’s often enough to exchange insurance information and settle damages quickly. Unfortunately, not all car accidents are minor, and the damages that result can be catastrophic in more than one way.
If a person has been involved in a serious accident, it’s important to understand the concept of economic losses and noneconomic losses. Economic losses are self-explanatory: they are financial losses caused by an accident. Some are manageable, including minor vehicle damage. In cases of catastrophic accidents, lost wages and medical bills may cause problems. When severe economic losses become overwhelming, a person involved in an accident may wish to contact a lawyer. Law firms may be able to offer advice that is timely and that can work to help prevent further economic losses, including job loss.
Noneconomic losses tend to be less measurable, but they are no less devastating. These types of losses can include mental and physical distress, loss of enjoyment of life and more. This can happen after an injury that lessens quality of life significantly. Though some people prefer to deal with these consequences alone, they can become too difficult in some cases. It is often wise to contact a lawyer if a person is facing pressure from insurance adjusters, a piling up of bills and other paperwork, or other fallout from an accident.
Our law firm deals with both noneconomic losses and economic losses. Our website can provide more information for those who may be confused and overwhelmed by the various damages caused by an accident. Please see our webpage on different types of damages to learn more.
Source: Atwood Law, “Lincoln Car Accident Lawyers”, November 22, 2014