Types of Accident Compensation

Typically, this kind of compensation covers medical bills including prescription devices and drugs, physical therapy and surgery. It can also cover the loss of future earnings potential.

This type of compensation may be referred to as "general damages." It isn't always easy to determine the value of these damages due to the fact that insurers employ different methods of calculation.

Economic Damages

Economic damages are the tangible, measurable costs that result from an accident. These include out-of-pocket expenses and losses resulting from the absence of work damages to property and the potential for future financial losses due to the injury or disability. Juries and courts usually calculate these costs by using documents like 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 a crash. They usually include medical expenses, such as the initial hospital stay, and any follow-up treatment and care. These expenses may also comprise the cost of repairing damaged cars or other property items, like clothes and household goods. The cost of hiring someone to do chores around the house or to transport children to and from school or other activities may be included in these expenses also.

The loss of wages is a different important type of economic loss. This includes not only the wages you have missed due to your injuries but also any productivity loss while you recover, and any sick days or vacation leaves. In certain cases there is a possibility of recovering compensation in the event of a loss of future earnings capacity. This is the situation when you are unable to return to your previous career or earn the same amount.

While these expenses are evident and easily quantifiable, many of the other damages that you can assert are less clear. These non-economic damages can be more difficult to quantify, and could include things like pain and suffering, disfigurement, and loss of enjoyment.

How Can You Prove These Damages?

While some of the expenses in these categories are fairly straightforward and accident can be proven by receipts and paperwork Other expenses might require expert testimony. For instance, in the event when an accident results in an extensive spinal cord injury that leaves a victim partially paralyzed, it may be necessary to consult with an occupational specialist to determine the full impact of the injury. This will assist the jury or court make an accurate assessment of your financial and personal impact.

The most complicated forms of economic damages are those that concern future medical expenses and lost earnings. You may be able to document these costs by using a medical professional’s estimation of your best medical improvement or when your recovery is expected to end. You'll need to prove that you will suffer a future financial loss. This can be accomplished by making a submission of your pay stubs and expense receipts.

Insurance companies try to not pay as much damages as they are obligated to. A seasoned personal injury lawyer can make sure that you get all compensation damages to which are entitled. Contact Dennis and King today to schedule an initial consultation for free. We can assist you in pursuing all of your economic and non-economic damages following an New York car Shelton accident attorney or other personal injury accident law firm.