Types of Accident Compensation

This kind of compensation typically includes medical expenses, which include prescription drugs and devices, physical therapy and even surgery. The compensation could also be used to pay for future earnings.

This type of compensation can be described as "general damages." However, accident determining the value of these damages is difficult because insurers employ different calculation methods.

Economic Damages

Economic damages are the tangible and quantifiable expenses resulting from an accident attorneys. These include out-of pocket expenses like lost wages, property damage costs, and future financial losses resulting from the injury or accident disability. These costs are estimated by juries and courts using documents like hospital bills, pharmacy receipts, and vehicle repair estimates.

These are the immediate costs of a crash and are simple to prove. They typically include medical expenses for the initial hospitalization and all subsequent care and treatment. These expenses may also include the cost of fixing damaged cars or other items of property including household and clothing items. The cost of hiring a person to do chores around the house or drive children to and from school or extracurricular activities could be included in these costs as well.

Lost wages are another frequent and important type of economic damages. This includes not only the income you lost due to your injuries but also any loss of productivity during your recovery, as well as any sick days or vacation leaves. In some cases you may even be able to claim compensation for the loss of your future earning potential If your injury hinders you from returning to your previous job or stops you from earning the same amount in the future.

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

How can you demonstrate these damages?

While a few of the expenses in these categories are straightforward and can be substantiated by receipts and paperwork However, some expenses will require expert testimony. In the event that an accident causes severe spinal injury that causes the victim to be partially paralyzed it may be necessary to consult an occupational expert to determine the impact of the injury on the victim. This can help the court or jury determine with certainty the full extent of personal and financial impacts will be.

The most complex economic losses are those that relate to future medical costs and lost earnings. It is possible to document these expenses by utilizing a medical professional's estimate of when you'll achieve maximum medical improvement, or when your recovery is likely end. However, you'll need to prove the future financial loss by providing pay bills, expense receipts and other evidence of your current and previous income.

Insurance companies are trying to keep from paying as much damages as they are legally required to. A personal injury lawyer who is skilled will ensure that you receive all the compensation damages you are entitled to. Contact Dennis and King today to set up an initial consultation for free. We can assist you with all of your non-economic and economic damages after an New York car accident or any other personal injury or accident.