Types of Accident Compensation

This kind of compensation typically covers medical costs, including prescription medications as well as devices, physical therapy and surgery. It may also cover the loss of future earnings potential.

This type of payment can be referred to as “general damages.” It can be difficult to determine the amount of these damages as insurers use different methods for calculation.

Economic Damages

Economic damages are the tangible, measurable costs that result from an accident lawyers. They include out-of-pocket expenses, losses from missed work as well as property damage costs. the potential for future financial losses due to the injury or disability. Courts and juries usually calculate these costs using documents such as pharmacy receipts, hospital bills and Accident Compensation vehicle repair estimates.

These expenses are relatively simple to prove and are among the most immediate expenses incurred by a crash. They typically include medical expenses like the initial hospitalization and all subsequent treatment and care. They can also include the cost of fixing damaged cars or other property items, like clothes and household products. They could also include the cost of hiring a person to do housework or drive your children to school or any other extracurricular activities.

Lost wages are another common and important category of economic damages. This includes not just your lost wages due to the fact that you were required to stay home from work due to your injuries, but they can be a factor in the loss of productivity during recovery and any use of vacation or sick days. In some cases, you can even recover compensation for the loss of your earning potential in the future If your injury hinders you from returning to your former job or stops you from earning the same amount in the future.

These costs are fairly clear and quantifiable. However other damages you could accident claim are less clear. These damages that are not economic can be more difficult to quantify and could include things like pain and suffering, disfigurement or loss of enjoyment of life.

How do you prove the damage?

Certain expenses can be established with receipts and paperwork however, some expenses may require expert testimony. For instance, in cases where an accident law firm leads to a severe spinal cord injury that renders a person partially paralyzed, it may be necessary to consult an occupational specialist to assess the full impact of the injury. This will assist the jury or court determine the true extent of your personal and financial impact.

The most complex economic damages are those relating to future medical expenses and lost earnings. It is possible to document these costs by using a medical professional’s estimate of your best medical improvement or when your recovery is likely to come to an end. You will need to prove that you will suffer a future financial loss. This can be done by providing your pay stubs or expense receipts.

Insurance companies try to avoid paying as much damages as they are required to. A personal injury lawyer with experience can ensure you receive all the compensatory damages you are entitled to. Contact Dennis and King today to set up an appointment at no cost. We can assist you in recovering all of your economic and other damages resulting from a New York auto accident lawsuit or personal injury incident.