Types of Accident Compensation

This type of compensation usually covers medical costs, including prescription drugs or devices, physical therapy and even surgery. It could also cover the loss of future earnings potential.

This kind of compensation could be referred to as "general damages." However, determining the amount of these damages can be difficult as insurers use different calculation methods.

Economic Damages

Economic damages are the tangible and measurable costs resulting from an accident. They include out-of-pocket expenses for lost wages due to missed work damages to property and future financial losses that are expected due to disability or injury. Courts and juries usually calculate these costs by using documents like hospital bills, pharmacy receipts and estimates for vehicle repairs.

They are fairly easy to prove and are the most immediate costs associated with an accident. They usually include medical costs like the initial hospital stay, and all subsequent treatment and care. They may also include the cost of repairs to a damaged vehicle or other property items such as clothing and household items. These expenses could also include the cost of hiring a person to take care of household chores or driving your children to school or other events.

Lost wages are another common and important type of economic damages. They include not just missed wages from the time you had to stay home from work because of injuries, but they could be a factor in the loss of productivity during recovery and any use of vacation or sick days. In some cases you can also claim compensation for the loss of your potential earnings in the event that your injury prevents you from returning to your former career or prevents you from earning the same amount in the future.

The costs are pretty clear 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 include things like pain and discomfort disfigurement, loss of enjoyment in life.

What can you do to prove the damage?

Certain expenses can be substantiated by means of receipts and papers However, others might require expert testimony. For instance, in situations when an accident results in an extensive spinal cord injury which leaves a victim partially paralyzed, it may be necessary to consult an occupational expert 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 economic losses are those that relate to future medical costs and lost earnings. You may be able record these expenses using a medical professional's estimation of your best medical improvement or when your recovery is likely to come to an end. You'll need to show that you will suffer a future financial loss. This can be accomplished by providing your pay stubs or expense receipts.

Insurance companies try to avoid paying as much damages as they are required to. A knowledgeable personal injury lawyer can make sure that you receive all the compensation damages to which are entitled. Contact Dennis and King today to set up an initial consultation for free. We can assist you in recovering all of your economic as well as other damages following an New York auto panama city accident lawsuit or personal injury Quitman Accident lawsuit.