Types of Accident Compensation

This kind of compensation typically includes medical expenses, which include prescription medications and devices, physical therapy and even surgery. It can also cover the loss of future earnings potential.

This type of compensation is usually referred to as "general damages." It isn't always easy 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 law firms. These include out-of-pocket expenses including lost wages, property damage costs, and financial losses that will come from the disability or injury. The courts and juries usually determine these costs using documentation like hospital bills, pharmacy receipts and vehicle repair estimates.

These expenses are relatively simple to prove and are among the most immediate expenses incurred by an accident. They usually include medical expenses for the initial hospitalization and all subsequent care and treatment. They can also include the cost of fixing a damaged car or other property items, such as clothes and household products. These expenses could also include the cost of hiring a person to assist with household chores or transport your children to school or any other extracurricular events.

Lost wages are another common and significant category of economic damages. This is not just the lost wages due to your injuries, but also any productivity loss while you recover, and any sick days or vacation leaves. In certain cases you can also claim compensation for the loss of your future earning potential when your injury stops you from returning to your previous job or stops you from earning the same amount in the future.

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

How do you prove these damages?

While a few of the expenses within these categories are straightforward and can be substantiated by receipts and paperwork However, some expenses will require expert testimony. For instance, in cases where an accident causes a severe spinal cord injury 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 will assist the jury or court make an accurate assessment of your financial and personal impact.

The most complex types of economic damages are those that relate to future medical expenses and lost earnings. It is possible to document these expenses using a medical professional's estimate of when you'll achieve maximum medical improvement, or when your recovery is likely to 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 not pay as much damages as they are legally required to. A personal injury lawyer who is skilled will ensure that you receive all the compensation you are entitled to. Contact Dennis and King today to schedule an appointment at no cost. We can help you seek the full range of your non-economic and economic damage resulting from a New York car accident Law Firms or any other personal injury or accident.