Types of Accident Compensation

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

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

Economic Damages

Economic damages are the tangible and quantifiable costs resulting from an accident. These include out-of pocket expenses, losses from missed work damages to property and future anticipated financial losses due to disability or injury. These costs are figured by juries and courts based on documents such as hospital bills, pharmacy receipts, as well as vehicle repair estimates.

These are the immediate costs of a crash and are simple to prove. They often include medical expenses, such as the initial hospitalization and all subsequent care and treatment. They may also include the cost of repairing or replacing a damaged vehicle or other property items such as household and clothing products. These expenses could also include the cost of hiring a person to do housework or drive your children to school or any other extracurricular events.

Loss of earnings is another important type of economic damage. This includes not only the wages you missed due to your injuries, but also any loss of productivity during your recovery and any sick days or vacation leaves. In some instances you can also claim compensation for the loss of your earning potential in the future if your injury prevents you from returning to your former job or stops you from earning the same amount in the future.

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

How Do You Prove These Damages?

Certain expenses can be established by submitting receipts and documents however, some expenses may require expert testimony. For example, in cases where an accident leads to serious spinal cord injuries that leaves a victim partially paralyzed or disabled, it could be necessary to consult with an occupational specialist to determine the full impact of the injury. This can help the jury or court determine the exact extent of your financial and personal impact.

The most complicated forms of economic losses are those that involve future medical expenses and lost earnings. You may be able to document these costs by using a medical professional's estimation of your maximum medical improvement or when your recovery is expected to be over. You'll need to show that you'll suffer future financial loss. This can be accomplished by providing your pay stubs or expense receipts.

Insurance companies try to avoid paying the entire amount of damages they must legally pay. A knowledgeable personal injury lawyer will ensure that you receive all the compensatory damages to which you are entitled. Dennis and King can set up a free consultation. We can help you pursue all of non-economic and financial injuries resulting from an New York car Steelton herriman accident lawsuit lawsuit, vimeo.com, or another personal injury event.