Types of Accident Compensation

This type of compensation usually covers medical costs, including prescription medications as well as devices, physical therapy and surgery. It may also cover the loss of future earning 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 have different methods of calculation.

Economic Damages

Economic damages are the tangible, measurable expenses that result from an accident compensation. These include out-of-pocket expenses, losses from missed work, Accident Compensation property damage costs and future anticipated financial losses due to the disability or injury. These costs are estimated by juries and courts using documents such as hospital bills, pharmacy receipts, and accident compensation estimates of repairs to the vehicle.

These costs are fairly simple to prove and are among the most immediate expenses incurred by an accident. They include medical costs, such as the first hospitalization, as well as any subsequent care and treatment. They may also include the cost of repairing a damaged vehicle or other property items like clothing and household goods. The cost of hiring someone to perform chores around the house or take children to and from school, or other activities may be included in these expenses also.

Lost wages are another frequent and significant category of economic damages. This includes not just your missing wages from the time you had to stay home from work due to your injuries, but they can also include the loss of productivity in recovering, as well as any use of sick days or vacation leave. In some cases, you can even recover compensation for the loss of your potential earnings if your injury prevents you from returning to your former career or prevents you from earning the same amount in the future.

The costs are pretty clear and measurable. However, other damages that you can claim may be less clear. These non-economic damages can be more difficult to quantify, and include things like discomfort and pain or disfigurement, as well as loss of enjoyment in life.

What can you do to show these damages?

Certain expenses can be substantiated by means of receipts and papers however, some expenses may require expert testimony. For example, in cases that an accident compensation claim causes serious spinal cord injuries that leaves a victim partially paralyzed or disabled, it could be necessary to speak with 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 impacts will be.

The most complicated economic damages are those related to future medical expenses and loss of earnings. It is possible to document these expenses with the help of a medical professional's estimation of when you'll achieve maximum medical improvement, or when your recovery is likely come to an end. You will need to prove that you'll suffer future financial loss. This can be done by providing your pay stubs or expense receipts.

Insurance companies try to avoid paying the total amount of the damages they have to pay legally. A personal injury lawyer who has the right experience can ensure that you get 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 pursuing all of economic and non-economic damages following an New York car accident lawyers or another personal injury event.