Types of Accident Compensation

This type of compensation usually covers medical costs, including prescription medications, devices, physical therapy and surgeries. It may also cover the loss of future earning potential.

This type of compensation can be described as "general damages." It can be difficult to determine the amount of these damages due to the fact that insurers employ different methods of calculation.

Economic Damages

Economic damages are the tangible, measurable expenses that result from an accident. These are expenses that are out of pocket such as lost wages and property damage costs and future financial losses resulting from the injury or disability. These costs are calculated by juries and courts based on documents like hospital bills, pharmacy receipts and estimates of repairs to the vehicle.

These are the immediate costs of a crash and are easy to prove. They often include medical expenses like the initial hospital stay, and any follow-up treatment and care. These costs can also include the cost to repair damaged cars or other items of property such as clothes and household goods. The cost of hiring a person to do chores around the home or to transport children to and from school or extracurricular activities can be included in these expenses, as well.

Loss of earnings is another important type of economic loss. These include not just missed wages from the time you had to stay home from work due to your injuries, but also include lost productivity while recovering and any use of vacation or sick leave. In some instances, you can even recover compensation for the loss of your future earning potential in the event that your injury prevents you from returning to your former job or hinders you from earning the same amount in the future.

These costs are fairly clear and quantifiable. However, other damages that you can claim may be more difficult to prove. These non-economic damages can be more difficult to quantify and include things like discomfort and pain, disfigurement, and loss of enjoyment in life.

How can you show these damages?

While some of the costs in these categories are simple and can be proved by submitting receipts and Vimeo.Com papers Certain expenses may require expert testimony. For instance, in cases when an accident results in an extremely severe spinal cord injury that leaves the victim partially paralyzed, it may be necessary to consult with an occupational specialist to determine 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 types of economic damages are those relating to future medical expenses and lost earnings. You might be able to record these expenses using a medical professional's estimate of your greatest medical improvement or when your recovery is likely to be over. But, you'll need to prove the future financial loss by providing pay stubs, expense receipts and other evidence of your current and previous income.

Insurance companies try to avoid paying the entire amount of damages they must legally pay. A personal injury lawyer who is experienced will ensure you receive all the compensation damages you are entitled to. Dennis and King will schedule a no-cost consultation. We can assist you in pursuing the full range of non-economic and financial injuries resulting from an New York car clarion accident attorney or another personal injury event.