Types of Accident Compensation

Typically, this form of compensation is used to pay for medical expenses such as prescription drugs and devices, physical therapy and surgery. It could include future earnings potential.

This type of payment can be referred to as "general damages." It can be challenging to determine the amount of these damages as insurers have different methods of calculation.

Economic Damages

Economic damages are the tangible and measurable expenses resulting from an accident. These include out-of pocket expenses, lost wages, property damage costs, and future financial losses resulting from the injury or disability. These costs are calculated by juries and courts using documents like hospital bills, pharmacy receipts and estimates for repairs to vehicles.

These expenses are relatively simple to prove and are among the most immediate expenses associated with an colonie accident law firm. 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 cars or other property items, such as clothes and household products. The cost of hiring someone to do chores around the home or to transport children to and from school or other activities may be included in these expenses also.

Lost wages are another common and important category of economic damages. This is not just the wages you missed due to your injuries, but also any lost productivity during your recovery as well as sick days or vacation leaves. In certain instances you could even receive compensation for the loss of your future earning capacity If your injury hinders you from returning to your previous career or prevents you from earning the same amount in the future.

These costs are easily identifiable and measurable. However, other damages that you can claim are more difficult to prove. These non-economic damages are sometimes more difficult to quantify and may include things like pain and suffering, disfigurement, and loss of enjoyment.

How Can You Prove These Damages?

Certain expenses can be established by means of receipts and papers however, some expenses may require expert testimony. For example, in cases where an accident causes serious spinal cord injuries that leaves the victim partially paralyzed, then it could be necessary to consult an occupational expert to determine the full impact of the injury. This can help the court or jury to make a precise determination of the full extent of personal and financial implications will be.

The most complex types of economic damages are those relating to future medical expenses and lost earnings. It may be possible to document these expenses using a medical professional's estimate of when you'll achieve the point of maximum medical improvement or the time when your recovery will likely be over. However, you'll have to prove the future financial loss by providing pay statements, expense receipts, and other proof of your present and previous income.

Insurance companies attempt to not pay as much damages as they are obligated to. A personal injury lawyer who has the right experience will ensure that you receive all the compensatory damages you are entitled to. Contact Dennis and King today to schedule an appointment for a no-cost consultation. We can help you recover all of your financial and other damages after a New York auto pekin accident lawyer or personal injury accident.