Types of Accident Compensation

This kind of compensation typically covers medical expenses, such as prescription drugs as well as devices, physical therapy and surgeries. It may also cover the loss of future earnings potential.

This type of compensation is sometimes referred to "general damages." It can be difficult to determine the value of these damages as insurers employ different methods of calculation.

Economic Damages

Economic damages are the tangible and measurable costs associated with an accident. These include expenses out of pocket for lost wages due to missed work, property damage costs and future financial losses attributed to the injury or disability. These costs are estimated by juries and courts using documents such as hospital bills, pharmacy receipts, and accident law firm vehicle repair estimates.

They are fairly easy to prove and are the most immediate expenses incurred by an accident. They typically include medical expenses, such as the initial hospital stay, and any follow-up treatment and care. They can also include the cost of a damaged vehicle or other property items, Accident Law firm such as clothing and household goods. These expenses could also include the cost of hiring a person to help with housework or driving your children to school or other events.

Lost wages are another common and important category of economic damages. These include not just missing wages from the time you were required to stay home from work due to your injuries, but they may also include the loss of productivity in recovering, as well as any vacation or sick leave. In some instances, compensation can be recovered in the event of a loss of future earning capacity. This is the situation when you are unable to resume your previous work or earn the equivalent amount.

The costs are pretty clear and measurable. However, other damages that you can claim may be more difficult to prove. These non-economic damages can be more difficult to quantify and could include things like pain and suffering, disfigurement and loss of enjoyment.

How do you prove the damage?

Some expenses can be proved with receipts and paperwork, but others may require expert testimony. If an accident lawyer causes severe spinal injury that renders the victim partially paralyzed, then it is required to consult with an occupational expert to determine how the injury will affect the victim. This will assist the jury or court to make a precise determination of the full extent of personal and financial impacts will be.

The most complicated forms of economic damages are those that relate to future medical expenses and lost earnings. You might be able to document these costs by using a medical professional's estimate of your maximum improvement in your medical condition or when your recovery is expected to end. You'll need to prove that you will suffer a future financial loss. This can be done by making a submission of your pay stubs and expense receipts.

Insurance companies are trying to avoid paying as much in damages as they are required to. A personal injury lawyer who is skilled will ensure you receive all the compensation damages you are entitled to. Contact Dennis and King today to schedule a free consultation. We can help you pursue all of non-economic and financial damages following an New York car accident law firm (agree with this) or another personal injury event.