Types of Accident Compensation

Typically, this type compensation covers medical expenses like prescription drugs and devices such as physical therapy, accident Attorneys surgery and so on. It can also cover the loss of future earnings potential.

This type of compensation may be described as "general damages." However, determining the amount of these damages can be complicated because insurers use different methods of calculation.

Economic Damages

Economic damages are the tangible, measurable costs that result from an accident law firms. These include out-of pocket expenses, losses from missed work, property damage costs and the potential for future financial losses due to disability or injury. Courts and juries typically calculate these costs using documents such as pharmacy receipts, hospital bills and estimates of vehicle repairs.

These costs are fairly simple to prove and are among the most immediate expenses incurred by a crash. They typically include medical expenses like the initial hospital stay, and any follow-up treatment and care. They could also include the cost of a damaged vehicle or other property items, such as household and clothing items. These costs can also include the cost of hiring a third party to help with housework or driving your children to school or other activities.

The loss of wages is an additional important type of economic loss. This includes not only the wages you have missed because of your injuries but also any lost productivity while you recover, and any sick days or vacation leaves. In certain instances you could even receive compensation for the loss of your earning potential in the future in the event that your injury prevents you from returning to your former job or prevents you from earning the same amount in the future.

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

How do you prove these damages?

While some of the expenses in these categories are fairly straightforward and can be proven with paperwork and receipts However, some expenses will require expert testimony. For instance, in situations where an Accident Attorneys leads to serious spinal cord injuries that leaves the victim partially paralyzed, it may be necessary to consult an occupational expert to determine the full impact of the injury. This will assist the jury or court to determine what your total financial and personal impacts will be.

The most complicated types of economic losses are those relating to future medical expenses and lost earnings. It is possible to document these costs using a medical professional's estimate of your maximum improvement in your medical condition or when your recovery is expected to end. However, you will need to prove your financial loss by submitting pay bills, expense receipts as well as other proof of your current and previous income.

Insurance companies will attempt to avoid paying the entire amount of damages they have to pay legally. A personal injury lawyer with experience will ensure that you receive all the compensation you are entitled to. Dennis and King can set up a free consultation. We can assist you with the full spectrum of your non-economic and economic damage resulting from an New York car accident lawyers or other personal injury accident.