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What is the difference between economic and non-economic damages?

April 26, 2017Damages difference Economic non-economic

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What is the difference between economic and non-economic damages?

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Economic damages are direct costs associated with the accident-including medical costs, lost wages, funeral costs, and property damage, among others. Non-economic damages include damages that compensate victims for pain and emotional suffering, and punitive damages, which are ordered as punishment for parties who intentionally and/or knowingly endangered and injured others.