Types of Accident Compensation

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

This type of payment can be referred to as "general damages." However, determining the value of these damages can be complicated because insurers use different methods of calculation.

Economic Damages

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

These are the direct costs of a crash, and are easy to prove. They usually include medical expenses like the initial hospital stay, and any follow-up treatment and care. These expenses can also comprise the cost of repairing damaged cars or other items of property, such as clothing and household items. The cost of hiring someone to take care of chores around the house or take children to and from school, or extracurricular activities could be included and more.

The loss of wages is an additional important type of economic damage. This is not just the wages you have missed due to your injuries but also any lost productivity during your recovery as well as sick days or vacation leaves. In some cases you can recover compensation in the event of a loss of future earnings capacity. This is the case when you are unable to resume your previous work or earn the equivalent amount.

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

What can you prove to prove these Damages?

Certain expenses can be established with receipts and paperwork however, some expenses may require expert testimony. For instance, in the event where an accident Law firms leads to an extensive spinal cord injury that renders a person partially paralyzed, it might be necessary to speak with an occupational expert to determine the full impact of the injury. This will help the court or jury make an accurate determination of what your full range of personal and financial impacts will be.

The most complex economic losses are those related to future medical expenses and lost earnings. It may be possible to document these expenses with the help of a medical professional's estimation of when you'll reach the point of maximum medical improvement or when your recovery is likely come to an end. You'll need to prove that you are likely to suffer a 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 have to pay legally. A competent personal injury lawyer can make sure that you get all compensation to which you are entitled. Dennis and accident law firms King will schedule a no-cost consultation. We can help you pursue the full spectrum of your non-economic and economic damages after a New York car accident or other personal injury accident.