What types of damages are typically considered economic?

Economic damages are specifically quantifiable monetary losses resulting from an injury or harm. Medical expenses and lost wages are prime examples of this type of damage. Medical expenses can include costs for hospital stays, surgeries, medications, and rehabilitation, all of which can be calculated based on actual bills incurred. Lost wages refer to the income that a plaintiff would have earned had they not been injured—this too can be calculated based on pay stubs or salary history.

In contrast, options emphasizing pain and suffering, loss of companionship, and emotional distress pertain to non-economic damages. These types of damages involve subjective experiences that do not have a precise monetary value. They seek to compensate for emotional and psychological harm rather than direct financial losses. Therefore, medical expenses and lost wages distinctly fall under the definition of economic damages.