Types of Accident Compensation

Typically, this type of compensation is used to pay for medical expenses such as prescription devices and drugs such as physical therapy, surgery and so on. The compensation could also be used to cover future earnings.

This kind of compensation is usually referred to as "general damages." However, determining the value of these damages is difficult because insurers employ different methods of calculation.

Economic Damages

Economic damages are the tangible and quantifiable costs associated with an accident. These include out-of-pocket expenses such as lost wages as well as property damage costs and future financial losses resulting from the injury or disability. Courts and juries typically calculate these costs based on documentation such as pharmacy receipts, hospital bills and estimates for vehicle repairs.

These expenses are relatively simple to prove and are among the most immediate expenses associated with the event of a crash. They include medical costs, like the initial hospitalization and any subsequent treatment and care. These expenses can also include the cost to repair damaged cars or other items of property, including household and clothing items. These expenses can also include the cost of hiring a person to help with housework or driving your children to school or any other extracurricular events.

Loss of earnings is another important category of economic damages. These include not just missed wages from the time you were required to stay home from work because of injuries, but they may also include the loss of productivity during recovery and any use of vacation or sick days. In certain cases, compensation can be recovered in the event of a loss of future earning capacity. This is the situation in the event that you cannot return to your previous job or earn the equivalent amount.

These costs are fairly clear and quantifiable. However other damages you can claim are less clear. These non-economic damages are sometimes more difficult to quantify, and could include things like pain and suffering, disfigurement, and loss of enjoyment of life.

What can you do to prove these damages?

While a few of the expenses within these categories are straightforward and can be proven by submitting receipts and papers Certain expenses may require expert testimony. For instance, in situations where an accident causes serious spinal cord injuries that renders a person partially paralyzed or disabled, it could be necessary to consult an occupational specialist to assess the full impact of the injury. This can assist the jury or court make an accurate determination of what your total personal and financial implications will be.

The most complicated kinds of economic damages are those that relate to future medical expenses and lost earnings. You may be able to document these costs using a medical professional's estimate of your maximum medical improvement or when your recovery is expected to be over. You'll need to show that you are likely to suffer a future financial loss. This can be accomplished by submitting your pay stubs or expense receipts.

Insurance companies will attempt to avoid paying the total amount of damages they are legally obliged to pay. A skilled personal injury lawyer can ensure that you receive all compensatory damages to which you are entitled. Contact Dennis and King today to set up an appointment for a no-cost consultation. We can assist you with the full spectrum of your non-economic and economic damages after an New York car Sanger accident lawyer or any other personal injury or beebe accident Lawsuit.

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