Are you confused between pecuniary and non pecuniary damages? We know the struggles. That’s why to help; we have kept this article ready to solve all your queries.
An accident can happen at any moment in time and change the entire structure of our life. However, with the proper knowledge about the damages, it becomes much easier to handle things a bit.
On top of that, if the accident trauma and injuries weren’t enough, next comes the legal terms making our life more complicated and painful. The only person who can save us from handling all these matters by taking the burden off our shoulders is an experienced lawyer.
Without further ado, let’s know about these two damages along with compensatory damages in detail to generate an overall concept:
What is Meant by Compensatory Damages?
As the name suggests, compensatory damages are those damages for which the victims will get compensation from the fault party based on the accident’s severity.
After all, it is the right of every victim to get compensation for all the wounds and sufferings they had to incur for an accident where there was no fault of them. As a result, to make sure that justice is served, the law has given importance to these damages.
Both the pecuniary and non-pecuniary losses are the 2 types of compensatory damages. In short, compensatory damages include everything right from medical expenses to all the pain and sufferings a person has to go through after facing an accident.
What are Pecuniary Damages?
Pecuniary damages are tangible losses that have a specific monetary value making the compensation easier to calculate. Another name of these losses is also known as special damages or economic damages.
In other words, any kinds of losses that are quantifiable in terms of economic fall under pecuniary damages. Some of the common examples that these damages cover are:
- Medical expenses
- Ambulance charges
- Emergency room bills
- Doctor charges
- Loss of incomes
- Car repairing expenditures
- Future care expenses
What are Non Pecuniary Damages?
Non-Pecuniary damages are intangible losses that don’t have any precise monetary value. And no amount is enough to compensate for these losses. These kinds of damages are more severe in nature and can have a drastic impact on our life. They are also known as non-economic damages.
As a result, calculating these damages is much more hard and challenging than pecuniary damages. They required experts guidance to make a precise estimation of all the damages.
Some of the common examples of non-pecuniary damages are:
- Pain and suffering
- Lack of enjoyment
- Lifetime disability
- Emotional trauma
- Relationships impairment
- Loss of sensation
Do I Need a Lawyer for Handling My Claim?
Of course, you need an experienced lawyer to handle your case. In fact, the more quickly you will hire one, the more time they will get to organize your case and make it into a stronger one.
After all, it is your legal right to get the compensation you deserve. So why should you be ignorant or leave your rights?
And at this moment of crisis, this compensation can play a crucial role for you and your family members. Moreover, as we are not familiar with all the legal terms and conditions, it becomes more than easy to deprive us of our rights.
However, if you have a lawyer beside you, they will understand each of the gaps. And thus will make the most use out of it to turn the tables in favor of us.
Most importantly, they will stay beside us right from the start to the end of the case. Whether it be giving the mental support, doing all the paperwork, negotiating, or fighting for our case on behalf of us, you will always find them.
Read More: Should I Hire a Lawyer for a Minor Car Accident?
Life is unpredictable, and you never know what the future has in store for us. Similarly, an accident can happen at any moment of time, leaving us in a pathetic state.
Whether minor or major, an accident is an accident and is enough to change one’s entire lifestyle within less than a second.
And if you are a victim of non pecuniary damages, then only a skilled lawyer can guide and help you make the right estimation. After all, it is not everyone’s piece of cake.
Therefore, hiring an experienced lawyer is definitely one of the smarter calls you can take for relieving your and your family’s stresses.
Frequently Asked Question
If you are having any dilemmas regarding the pecuniary and non-pecuniary damages, then take a quick look at the below most asked queries to clarify all your doubts:
What are pecuniary and non pecuniary damages?
Pecuniary damages are tangible losses that can have a monetary value and can be measured, such as medical expenses, ambulance charges, loss of income, doctors’ charges, etc.
While, on the contrary, non-pecuniary damages are intangible losses that don’t have any monetary value. For instance, emotional trauma, disability, wrongful death, pain, and suffering, etc.
What do non pecuniary damages cover?
Non-pecuniary damages are those losses that no amount of money can lessen the pain or the voidness created due to the incident.
In short, they are the sorrows and damages that don’t have any price tag included in them. These damages include all the pain and suffering, mental traumas, long-term illness, disability, or other sorrows that don’t have any monetary value.
What are non pecuniary compensatory damages?
Non-pecuniary compensatory damages are the financial aid for your intangible losses. No matter what the amount is, at this moment of crisis—this compensation can work as a big relief for lessening our and our family’s sufferings to a great extent.
Therefore, hiring an experienced lawyer is the best option to get the justice and compensation you truly deserve.
What is the difference between pecuniary and non-pecuniary?
The leading differences between pecuniary and non-pecuniary damages are one is tangible loss while the other is non-tangible.
You can easily count the pecuniary damages as their amounts are quantifiable, while non-pecuniary damages need expert help to arrive at an exact estimation. After all, non-monetary amounts are hard to measure and put a precise tagline.
How are damages for non-pecuniary loss calculated?
Non-pecuniary losses don’t have any specific monetary value making the calculation much difficult for a normal person. It requires much knowledge about the law’s terms and conditions to make an accurate estimation. Hence, by keeping track of all the pain and suffering of the victim—a lawyer does the calculation based on their expertise to ensure the right justice is served.