Types of Accident Compensation

This kind of compensation typically covers medical expenses, such as prescription drugs and devices, physical therapy and surgeries. It may also cover the loss of future earning potential.

This type of compensation can be referred to as "general damages." However, determining the value of these damages is complicated because insurers use different methods of calculation.

Economic Damages

Economic damages are the tangible and quantifiable cost of an accident. These include out-of-pocket expenses as well as the loss resulting from a missed work cost for property damage, accident attorneys and future anticipated financial losses due to disability or injury. Courts and juries typically calculate these costs based on documentation such as hospital bills, pharmacy receipts and estimates for vehicle repairs.

These expenses are relatively simple to prove and are the most immediate expenses that are incurred in the event of a crash. They usually include medical expenses including the initial hospital stay, and any follow-up treatment and care. They could also include the cost of a damaged vehicle or other property items like clothing and household products. They could also include the cost of hiring someone else to help with housework or driving your children to school or other extracurricular events.

Loss of earnings is another important category of economic damages. This is not just the income you lost because of your injuries but also any loss of productivity during your recovery, as well as any sick days or vacation leaves. In some instances you could even receive compensation for accident attorneys the loss of your earning potential in the future If your injury hinders you from returning to your previous career or prevents you from earning the same amount in the future.

While these costs are relatively transparent and quantifiable, some of the other damages that you can claim are less so. These non-economic damages are often more difficult to quantify and can include things like pain and suffering, disfigurement and loss of enjoyment.

How can you show these damages?

Some expenses can be proved through receipts or paperwork Some expenses can be proven with receipts and paperwork, while others require expert testimony. For example, in cases where an Accident Attorneys leads to serious spinal cord injuries which leaves a victim partially paralyzed, then it could be necessary to speak with an occupational specialist to assess the full impact of the injury. This can assist the court or jury determine the true extent of your financial and personal impact.

The most complex economic losses are those relating to future medical expenses and loss of earnings. You may be able to prove these expenses by using a medical professional’s estimate of your maximum medical improvement or when your recovery is expected to be over. However, you'll need to prove your future financial loss by providing pay bills, expense receipts and other proof of your present and previous income.

Insurance companies attempt to avoid paying as much damages as they are required to. A personal injury lawyer who is skilled will ensure that you receive all of the compensatory damages you are entitled to. Contact Dennis and King today to set up a free consultation. We can assist you in recovering all of your economic and other damages following the occurrence of a New York auto accident lawyers or personal injury accident law firms.