Types of Accident Compensation

This kind of compensation typically covers medical costs, including prescription medications as well as devices, physical therapy, and surgeries. It could also cover the loss of future earnings.

This type of compensation is often called "general damages." It isn't always easy to determine the value of these damages as insurers use different methods of calculation.

Economic Damages

Economic damages are the tangible and measurable cost of an accident. These include out-of pocket expenses, lost wages damages to property, and financial losses that will come from the injury or disability. The courts and juries usually determine these costs based on documentation such as pharmacy receipts, hospital bills and vehicle repair estimates.

These costs are relatively easy to prove and are the most immediate expenses incurred by the event of a crash. They cover medical expenses for example, the first hospital stay and Vimeo all subsequent care and treatment. They could also include the cost of repairing a damaged vehicle or other property items such as clothing and household products. The cost of hiring someone to perform chores around the home or to transport children to and from school or other activities may be included as well.

Lost wages are a different and significant category of economic damages. This includes not just your lost wages due to the fact that you were forced to stay home from work due to your injuries, but they could be a factor in lost productivity while recovering as well as any vacation or sick days. In some cases it is possible to recover compensation for the loss of future earnings capacity. This is the case if you are unable to return to your previous job or earn the same amount.

While these costs are transparent and quantifiable, some of the other damages you could claim are less so. Non-economic damages are more difficult to quantify and include things like discomfort and pain or vimeo disfigurement as well as loss of enjoyment in life.

How do you demonstrate these damages?

While some of the expenses in these categories are fairly simple and can be proved with paperwork and receipts Other expenses might require expert testimony. When an accident causes a severe spinal injury that leaves the victim partially paralyzed, then it is necessary to consult an occupational expert to determine the impact of the injury on the victim. This can assist the jury or court to make a precise assessment of your financial and personal impact.

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

Insurance companies are trying to keep from paying as much damages as they are obligated to. A seasoned personal injury lawyer can make sure that you receive all compensation to which you are entitled. Dennis and King will schedule a no-cost consultation. We can help you recover all of your financial and other damages following the occurrence of a New York auto accident or personal injury accident.