Economic damages are easy to calculate: the amount of money that you spent or missed out on making as a result of the crash is the total of your economic damages. For medical expenses, you are only entitled to compensation for the paid amount, as opposed to the billed amount in California. The paid amount includes payments by your health insurance provider. For your property damage, you are entitled to either the costs of repairing your property, or the fair market value of your property at the time of the accident — whichever is less. Non-economic damages are much more complicated to calculate and include both (1) your pain and suffering and (2) loss of enjoyment of life. Examples of pain and suffering would include the initial pain of the accident, ongoing pain as a result of your injuries, and mental pain due to increased anxiety related to your accident. Examples of loss of enjoyment of life include your inability to ride your bike, inability to keep up with household chores, having to cancel a vacation due to your injuries, etc. For most people, the pain associated with their accident is far more devastating than any financial loss. However, pain and suffering can be incredibly difficult to quantify. Most people have no idea what their pain and suffering is worth, which is why it is recommended to retain counsel if you have suffered serious injuries as a result of your accident.
