Types of Accident Compensation

This type of compensation usually includes medical expenses, which include prescription drugs or devices, physical therapy, and surgery. This compensation may include future earnings potential.

This type of payment can be described as "general damages." It can be difficult to determine the amount of these damages as insurers use different methods of calculation.

Economic Damages

Economic damages are the tangible, measurable costs that result from an accident compensation. These are expenses that are out of pocket like lost wages, property damage costs, and future financial losses resulting from the injury or disability. These costs are estimated by juries and courts based on documents such as hospital bills, pharmacy receipts, and estimates of repairs to the vehicle.

These are the direct costs of a crash and are easy to prove. They cover medical expenses, for example, the first hospitalization, as well as any subsequent treatment and care. They can also include the cost of repairing a damaged vehicle or other property items like clothing and Accident Compensation household items. These expenses could also include the cost of hiring a person to take care of household chores or accident compensation driving your children to school or other extracurricular events.

The loss of wages is an additional important aspect of economic damages. These include not just lost wages due to the fact that you were forced to stay home from work because of your injuries, but they could also include lost productivity while recovering as well as any vacation days or sick days. In some instances there is a possibility of recovering compensation in the event of a loss of future earnings capacity. This is the case in the event that you cannot return to your previous job or earn the same amount.

These costs are quite clear and quantifiable. However, other damages that you can claim may be less so. These non-economic damages are more difficult to quantify, and include things like discomfort and pain, disfigurement, and loss of enjoyment.

How Can You Prove These Damages?

Certain expenses can be established by means of receipts and papers Some expenses can be proven with receipts and paperwork, while others require expert testimony. When an accident causes a severe spinal injury that causes the victim to be partially paralyzed it may be required to consult with an occupational specialist to determine how the injury will affect the victim. This will assist the jury or court determine the true extent of your financial and personal impact.

The most complicated types of economic losses are those that involve future medical expenses and lost earnings. You might be able to record these expenses using a medical professional's estimation of your maximum medical improvement or when your recovery is expected to end. You'll need to show that you'll suffer future financial loss. This can be done by submitting your pay stubs or expense receipts.

Insurance companies try to keep from paying as much damages as they are required to. A seasoned personal injury lawyer can make sure that you receive all the compensation damages to which you are entitled. Contact Dennis and King today to set up an appointment at no cost. We can assist you with all of your non-economic and economic damages after an New York car accident compensation or other personal injury accident lawsuit.