Types of Accident Compensation

This type of compensation typically covers medical expenses, including prescription medications and devices, physical therapy and even surgery. This compensation may also cover future earnings potential.

This type of compensation is sometimes referred to "general damages." It isn't always easy to determine the amount of these damages since insurers use different methods of calculation.

Economic Damages

Economic damages are the tangible, measurable costs that result from an accident lawsuits. They include out-of-pocket expenses as well as the loss resulting from a missed work, property damage costs and future financial losses that are expected due to disability or injury. These costs are calculated by juries and courts based on documents such as hospital bills, accident pharmacy receipts and estimates for repairs to vehicles.

They are fairly easy to prove and are the most immediate expenses incurred by an accident. They usually include medical costs including the initial hospitalization and any follow-up treatment and care. These costs can also comprise the cost of repairing damaged vehicles or other property items, such as clothes and household items. These costs can also include the cost of hiring a person to assist with household chores or transport your children to school or any other extracurricular activities.

Loss of wages is another common and accident significant category of economic damages. These include not only your missing wages from the time you were unable to work from work due to injuries, but also include the loss of productivity during recovery and any use of vacation or sick leave. In some instances you can also claim compensation for the loss of your future earning potential when your injury stops you from returning to your former job or stops you from earning the same amount in the future.

Although these costs are evident and easily quantifiable, many of the other damages that you can claim are less so. These non-economic damages are often more difficult to quantify and could include things like pain and suffering, disfigurement or loss of enjoyment.

How can you prove these Damages?

While some of the costs within these categories are straightforward and can be substantiated with paperwork and receipts However, some expenses will require expert testimony. For example, in cases when an accident results in a severe spinal cord injury that leaves a victim partially paralyzed or disabled, it could be necessary to consult an occupational expert to determine the full impact of the injury. This will help the court or jury make an accurate determination of what your total personal and financial consequences will be.

The most complicated economic losses are those that relate to future medical expenses as well as lost earnings. It is possible to document these expenses by using a medical professional's assessment of when you will reach the point of maximum medical improvement or when your recovery will likely end. But, you'll need to prove your future financial loss by providing pay stubs, expense receipts and other proof of your current and past income.

Insurance companies try to avoid paying as much damages as they are legally required to. A knowledgeable personal injury lawyer can ensure that you get all compensatory damages to which you are entitled. Dennis and King will be able to schedule a free consultation. We can assist you with the full range of non-economic and financial damages after a New York car accident or any other personal injury or accident lawyers.