Types of Accident Compensation

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

This type of compensation may be described as "general damages." It can be challenging to determine the amount of these damages as insurers use different methods for calculation.

Economic Damages

Economic damages are the tangible, accidents quantifiable costs that result from an accident lawsuits. They include out-of-pocket expenses for lost wages due to missed work cost for property damage, and future anticipated financial losses due to disability or injury. These costs are estimated by juries and courts based on documents like hospital bills, accidents pharmacy receipts, and estimates for vehicle repairs.

These costs are fairly simple to prove and are among the most immediate costs associated with the event of a crash. They usually include medical expenses including the initial hospitalization and any follow-up treatment and care. They can also include the cost of repairing a damaged vehicle or other property items, such as household and clothing products. These costs can also include the cost of hiring someone else to do housework or drive your children to school or extracurricular events.

Lost wages are a different and significant category of economic damages. These include not only your missed wages from the time you had to stay home from work because of your injuries, but they can be a factor in the loss of productivity in recovering, as well as any sick days or vacation leave. In some cases you may even be able to claim compensation for accidents the loss of your potential earnings If your injury hinders you from returning to your former job or stops you from earning the same amount in the future.

While these expenses are clear and measurable, accidents some of the other damages you could claim are not as clear. These damages that are not economic can be more difficult to quantify, and include things like discomfort and pain, disfigurement, and the loss of enjoyment.

What can you prove to prove these Damages?

While some of the expenses within these categories are easy to prove by submitting receipts and papers, other expenses may require expert testimony. If an accident causes a severe spinal injury that causes the victim to be partially paralyzed, then it is necessary to consult an occupational expert to determine how the injury will affect the victim. This will help the jury or court to make a precise assessment of your personal and financial impact.

The most complex economic damages are those relating to future medical expenses as well as lost earnings. It is possible to prove these expenses by using a medical professional’s estimation of your maximum medical improvement or when your recovery is expected to end. However, you'll need to prove your financial loss by providing pay statements, expense receipts, and other proof of your current and previous income.

Insurance companies will try to avoid paying the total amount of the damages they are legally obliged to pay. A personal injury lawyer who has the right experience will ensure you receive all of the compensatory damages you are entitled to. Dennis and King can schedule a no-cost consultation. We can help you pursue the full spectrum of economic and non-economic damages after a New York car accident or any other personal injury or accident.