Types of Accident Compensation

Typically, this form of compensation is used to pay for medical expenses such as prescription drugs and devices as well as physical therapy and surgery. It may also cover loss of future earnings.

This kind of compensation could be referred to as "general damages." However, determining the value of these damages can be difficult as insurers use different methods of calculation.

Economic Damages

Economic damages are the tangible and measurable costs resulting from an accident law firm. They include out-of-pocket expenses as well as the loss resulting from a missed work cost for property damage, and future anticipated financial losses due to disability or injury. These costs are calculated by juries and courts using documents such as hospital bills, pharmacy receipts, as well as vehicle repair estimates.

These are the immediate costs of a crash and are simple to prove. They include medical costs, for example, the first hospital stay, and any subsequent care and treatment. They could also include the cost of a damaged vehicle or other property items like clothing and household items. The cost of hiring someone to do chores around the house or drive children to and from school, or extracurricular activities can be included in these costs as well.

Loss of wages is another common and important category of economic damages. These include not just missed earnings from the time you were required to stay home from work because of your injuries, but they could also include the loss of productivity in recovering, as well as any vacation or sick days. In some instances, compensation can be recovered for the loss of future earning capacity. This is the situation if you are unable to return to your previous job or earn the equivalent amount.

These costs are easily identifiable and measurable. However other damages you are able to claim could be less obvious. These non-economic damages are often more difficult to quantify and could include things like pain and suffering, disfigurement, west palm beach accident lawyer and loss of enjoyment.

How do you prove these damages?

Certain expenses can be established by submitting receipts and documents Some expenses can be proven with receipts and paperwork, while others require expert testimony. In cases where an accident results in a severe spinal injury that renders the victim partially paralyzed it may be necessary to consult an occupational expert to determine how the injury will affect the victim. This can help the court or jury to make a precise determination of the full scope of personal and financial impacts will be.

The most complex types of economic losses are those that concern future medical expenses and lost earnings. You might be able to document these costs using a medical professional’s estimation of your maximum medical improvement or when your recovery is likely to end. You'll need to show that you'll suffer future financial loss. This can be done by sending in your pay stubs, or expense receipts.

Insurance companies will attempt to avoid paying the full amount of damages that they have to pay legally. A skilled personal injury lawyer can ensure that you receive the compensation damages to which you are entitled. Contact Dennis and King today to schedule a free consultation. We can assist you in recovering all of your financial and other damages after the occurrence of a New York auto west palm Beach accident Lawyer or personal injury accident lawsuit.