Types of Accident Compensation

Typically, this type compensation covers medical expenses like prescription devices and drugs including physical therapy and surgery. It can also cover the loss of future earnings potential.

This kind of compensation is sometimes referred to "general damages." However, determining the amount of these damages is difficult because insurers employ different calculation methods.

Economic Damages

Economic damages are the tangible and quantifiable cost of an accident. These are expenses that are out of pocket such as lost wages damages to property, and financial losses that will come from the injury or disability. These costs are estimated by juries and accident law Firms courts based on documents such as hospital bills, pharmacy receipts, as well as estimates for repairs to vehicles.

These costs are relatively easy to prove and are the most immediate costs associated with an accident. They include medical expenses, such as the first hospital stay and all subsequent care and treatment. They can also include the cost of a damaged vehicle or other property items, such as household and clothing goods. 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 expenses also.

Lost wages are another frequent and significant category of economic damages. These include not only your lost wages due to the fact that you had to stay home from work because of your injuries, but also include the loss of productivity during recovery and any use of sick days or vacation leave. In some instances there is a possibility of recovering compensation for the loss of future earnings capacity. This is the situation in the event that you cannot return to your previous career or earn the equivalent amount.

While these expenses are clear and measurable, some of the other damages that you can claim are less so. These non-economic damages are sometimes more difficult to quantify and can include things like pain and suffering, disfigurement or loss of enjoyment.

How Do You Prove These Damages?

Some expenses can be proved with receipts and paperwork however, some expenses may require expert testimony. For instance, in situations that an accident lawsuits causes a severe spinal cord injury 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 help the jury or court determine the true extent of your personal and financial impact.

The most complex types of economic damages are those that concern future medical expenses and lost earnings. It may be possible to document these expenses by utilizing a medical professional's estimate of when you will achieve the point of maximum medical improvement or when your recovery will likely come to an end. You'll need to show that you are likely to suffer a future financial loss. This can be accomplished by sending in your pay stubs, or expense receipts.

Insurance companies are often trying to avoid paying the full amount of damages that they are legally obliged to pay. A seasoned personal injury lawyer can make sure that you receive all compensatory damages to which you are entitled. Dennis and King will be able to schedule a free consultation. We can assist you in pursuing the full spectrum of your economic and non-economic damages following a New York car accident law firms or other personal injury incident.