Types of Accident Compensation

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

This kind of compensation is often called "general damages." It can be challenging to determine the amount of these damages because insurers employ different methods of calculation.

Economic Damages

Economic damages are the tangible, measurable expenses that result from an accident lawyer. These include out-of pocket expenses, losses from missed work, property damage costs and future anticipated financial losses due to the injury or disability. These costs are calculated by juries and courts based on documents such as hospital bills, pharmacy receipts, and estimates for repairs to vehicles.

These are the immediate expenses of a crash, and are simple to prove. They usually include medical costs like the initial hospitalization and any follow-up treatment and care. They may also include the cost of repairing a damaged vehicle or other property items, such as household and clothing items. 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 and more.

Loss of wages is another common and Accident Law Firms significant category of economic damages. These include not just missing wages from the time you were forced to stay home from work because of your injuries, but be a factor in the loss of productivity in recovering, as well as any vacation days or sick days. In some instances you can also claim compensation for the loss of your earning potential in the future in the event that your injury prevents you from returning to your previous job or prevents you from earning the same amount in the future.

Although these costs are easy to quantify, some of the other damages you could claim are not as clear. These non-economic damages can be more difficult to quantify, and include things like discomfort and pain, disfigurement, and loss of enjoyment.

How do you show these damages?

While a few of the expenses within these categories are straightforward and can be proven with receipts and documents Other expenses might require expert testimony. For instance, in the event where an accident law Firms causes a severe spinal cord injury that leaves a victim partially paralyzed or disabled, it could be necessary to consult with an occupational specialist to assess the full impact of the injury. This will help the jury or court to make a precise assessment of your personal and financial impact.

The most complicated economic damages are those related to future medical expenses as well as lost earnings. You may be able document these costs using a medical professional’s estimation of your maximum improvement in your medical condition or when your recovery is likely to end. You'll need to show that you are likely to suffer a future financial loss. This can be done by submitting your pay stubs or expense receipts.

Insurance companies are trying to avoid paying as much in damages as they are obligated to. A competent personal injury lawyer will ensure that you receive all compensation damages to which you are entitled. Contact Dennis and King today to schedule a free consultation. We can assist you with all of economic and non-economic damage resulting from an New York car accident lawsuit or other personal injury incident.