Types of Accident Compensation

This type of compensation usually covers medical expenses, such as prescription medications and devices, physical therapy and even surgery. It may also cover loss of future earning potential.

This type of payment can be referred to as "general damages." However, determining the value of these damages is difficult since insurers employ different calculation methods.

Economic Damages

Economic damages are the tangible, measurable expenses that result from an accident law firm. These are expenses that are out of pocket including lost wages, property damage costs, and future financial losses resulting from the injury or disability. These costs are figured by juries and courts using documents like hospital bills, pharmacy receipts, as well as estimates for vehicle repairs.

These costs are fairly simple to prove and are the most immediate expenses associated with the event of a crash. They typically include medical expenses, such as the initial hospital stay, and all subsequent care and treatment. These costs can also include the cost of fixing damaged cars or other items of property, such as clothes and household products. They could also include the cost of hiring a third party to take care of household chores or driving your children to school or other events.

Lost wages are a different and important category of economic damages. This includes not only the wages you have missed due to your injuries but also any lost productivity during your recovery and any sick days or vacation leaves. In some instances you may even be able to claim compensation for the loss of your future earning potential if your injury prevents you from returning to your previous job or hinders you from earning the same amount in the future.

These costs are easily identifiable and measurable. However, other damages that you are able to claim could be less obvious. These damages that are not economic can be more difficult to quantify and could include things like pain and suffering, disfigurement and loss of enjoyment.

How can you demonstrate these damages?

Some expenses can be proved with receipts and paperwork However, others might require expert testimony. For instance, in cases where an accident attorneys causes an extremely severe spinal cord injury which leaves a victim partially paralyzed or disabled, it could be necessary to speak with an occupational expert to determine the full impact of the injury. This will assist the court or jury determine the exact extent of your financial and personal impact.

The most complicated forms of economic damages are those that involve future medical expenses and lost earnings. It is possible to document these costs by using a medical professional’s estimation of your maximum improvement in your medical condition or when your recovery is expected to be over. But, you'll need to prove the future financial loss by submitting pay bills, expense receipts and accident attorneys other proof of your past and present income.

Insurance companies attempt to keep from paying as much damages as they are obligated to. A competent personal injury lawyer can make sure that you receive the compensation to which you are entitled. Dennis and King will schedule a no-cost consultation. We can assist you with the full spectrum of your non-economic and economic damage resulting from an New York car accident law firms or another personal injury event.