Types of Accident Compensation

Typically, this type payment covers medical expenses, such as prescription drugs and devices as well as physical therapy and surgery. It could also cover the loss of future earnings potential.

This kind of compensation could be referred to as "general damages." It can be difficult to determine the value of these damages because insurers use different methods for calculation.

Economic Damages

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

These costs are relatively easy to prove and are among the most immediate expenses that are incurred in an accident. They usually include medical expenses like the initial hospitalization and any follow-up treatment and care. They can also include the cost to repair damaged vehicles or other items of property including household and clothing items. The cost of hiring someone to take care of chores around the home or drive children to and from school, or extracurricular activities could be included, as well.

The loss of wages is a different important aspect of economic damages. This includes not only the wages you have missed due to your injuries, but also any lost productivity while you recover, and any sick days or Accident law Firms vacation leaves. In some instances you can recover compensation for the loss of future earnings capacity. This is the case if you are unable to return to your former career or earn the equivalent amount.

While these costs are transparent and quantifiable, some of the other damages you could claim are less clear. These non-economic damages are often more difficult to quantify and could include things like pain and suffering, disfigurement, and loss of enjoyment of life.

What can you prove to prove these Damages?

While some of the costs within these categories are simple and can be proved by receipts and paperwork Other expenses might require expert testimony. In cases where an Accident Law firms results in a severe spinal injury that renders the victim partially paralyzed, it might be necessary to consult an occupational expert to determine how the injury will affect the victim. This can aid the jury or the court determine the true extent of your financial and personal impact.

The most complicated economic losses are those that relate to future medical expenses and loss of earnings. It is possible to document these costs using a medical professional’s estimation of your best medical improvement or when your recovery is likely to end. You must prove that you'll suffer a future financial loss. This can be done by making a submission of your pay stubs and expense receipts.

Insurance companies will try to avoid paying the entire amount of damages they must legally pay. A competent personal injury lawyer can ensure that you receive all the compensatory damages to which you are entitled. Contact Dennis and King today to schedule an appointment at no cost. We can assist you in recovering all of your financial and other damages after the occurrence of a New York auto accident or personal injury.