Types of Accident Compensation

Typically, this kind of compensation is used to pay for medical expenses such as prescription drugs and devices, physical therapy and surgery. It may also cover loss of future earnings potential.

This kind of compensation is usually referred to as "general damages." It can be difficult to determine the value of these damages since insurers use different methods of calculation.

Economic Damages

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

These costs are fairly simple to prove and are the most immediate expenses associated with the event of a crash. They usually include medical expenses like the initial hospital stay, and firm all subsequent care and treatment. They could also include the cost of repairs to a damaged vehicle or other property items including household and clothing products. They could also include the cost of hiring a person to do housework or drive your children to school or other activities.

Loss of earnings is another important aspect of economic damages. This includes not just your lost wages due to the fact that you were required to stay home from work due to injuries, but they can also include the loss of productivity in recovering, as well as any sick days or vacation leave. In some cases you can recover compensation for the loss of future earning capacity. This is the case if you are unable to return to your previous job or earn the same amount.

While these costs are relatively evident and easily quantifiable, many of the other damages you may assert are less clear. These non-economic damages are more difficult to quantify and include things like pain and discomfort, disfigurement, and loss of enjoyment.

What can you do to prove these damages?

Some expenses can be proved through receipts or paperwork However, others might require expert testimony. In cases where an accident lawsuit causes a severe spinal injury that causes the victim to be partially paralyzed, it could be required to consult with an occupational expert to determine the impact of the injury on the victim. This can assist the jury or court determine with certainty the full extent of financial and personal impacts will be.

The most complicated economic losses are those relating 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 will reach the point of maximum medical improvement or when your recovery is likely to come to an end. However, you'll have to prove your financial loss by submitting pay statements, expense receipts, as well as other proof of your current and previous income.

Insurance companies are trying to not pay as much damages as they are obligated to. A personal injury lawyer who is experienced can ensure you receive all the compensation you are entitled to. Contact Dennis and King today to schedule an appointment for a no-cost consultation. We can assist you in recovering all of your economic and other damages following an New York auto accident law firm or personal injury.