Types of Accident Compensation

Typically, this type payment covers medical expenses, such as prescription devices and drugs including physical therapy and surgery. It can also cover the loss of future earning potential.

This type of compensation can be described as "general damages." However, determining the amount of these damages can be complicated because insurers use different methods of calculation.

Economic Damages

Economic damages are the tangible and quantifiable costs resulting from an accident attorney. They include out-of-pocket expenses, lost wages damages to property, and future financial losses resulting from the disability or injury. These costs are figured by juries and courts using documents such as hospital bills, pharmacy receipts and estimates for vehicle repairs.

These costs are fairly simple to prove and are among the most immediate expenses incurred by an accident. They include medical costs, such as the first hospitalization, as well as any subsequent care and treatment. These costs can also include the cost to repair damaged vehicles and other property items, such as clothing and household items. These expenses can also include the cost of hiring a person to assist with household chores or transport your children to school or accident other events.

Loss of earnings is another important type of economic damage. This is not just the lost wages due to your injuries, but also any loss of productivity during your recovery, as well as any sick days or vacation leaves. In some cases, compensation can be recovered for accident the loss of future earnings capacity. This is the situation when you are unable to resume your previous work or earn the equivalent amount.

While these costs are evident and easily quantifiable, many of the other damages that you can claim are less so. Non-economic damages are more difficult to quantify, and include things like discomfort and pain disfigurement, the loss of enjoyment.

What can you do to prove the damage?

While a few of the expenses in these categories are fairly straightforward and can be substantiated with receipts and documents Other expenses might require expert testimony. For example, in cases where an accident leads to serious spinal cord injuries that leaves a victim partially paralyzed, it may be necessary to consult an occupational specialist to assess the full impact of the injury. This can assist the court or jury make an accurate assessment of your financial and personal impact.

The most complicated economic losses are those that involve future medical expenses as well as lost earnings. It may be possible to document these costs with the help of a medical professional's estimation of when you will achieve the point of maximum medical improvement or when your recovery will likely be over. You must prove that you will suffer a future financial loss. This can be done by sending in your pay stubs, or expense receipts.

Insurance companies are trying to not pay as much damages as they are legally required to. A skilled personal injury lawyer will ensure that you receive all the compensation to which you are entitled. Dennis and King will schedule a no-cost consultation. We can help you pursue the full spectrum of non-economic and financial damage resulting from a New York car accident lawsuits or other personal injury accident.