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Types of Accident Compensation

This kind of compensation typically covers medical costs, including prescription drugs as well as devices, physical therapy and surgeries. It can also cover the loss of future earnings.

This type of compensation can be described as "general damages." However, determining the value of these damages is difficult as insurers use different calculation methods.

Economic Damages

Economic damages are the tangible and quantifiable costs associated with an accident lawsuits. These include out-of pocket expenses for lost wages due to missed work as well as property damage costs. future financial losses attributed to the disability or injury. Juries and courts usually calculate these costs based on documentation such as hospital bills, pharmacy receipts and estimates for repairs to vehicles.

These costs are relatively easy to prove and are the most immediate expenses that are incurred in an accident attorney. They often include medical expenses including the initial hospitalization and all subsequent treatment and care. These expenses can also comprise the cost of repairing damaged vehicles and other items of property including household and clothing goods. The cost of hiring a person to do chores around the house or transport children to and from school, or extracurricular activities could be included in these costs also.

Loss of wages is another important type of economic damage. This includes not only the wages you have missed due to your injuries but also the lost productivity during your recovery and accident compensation any vacation or sick days. In certain instances, you can even recover compensation for the loss of your earning potential in the future if your injury prevents you from returning to your previous job or prevents you from earning the same amount in the future.

These costs are quite clear and measurable. However other damages 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 and loss of enjoyment of life.

What can you do to show these damages?

While some of the expenses in these categories are fairly straightforward and can be substantiated with receipts and documents Certain expenses may require expert testimony. In cases where an accident claim results in a severe spinal injury that leaves the victim partially paralyzed, it might be necessary to consult an occupational specialist to determine how the injury will affect the victim. This can aid the jury or the court determine with certainty what your total personal and financial implications will be.

The most complicated economic damages are those related to future medical expenses and lost earnings. You might be able to record these expenses using a medical professional’s estimate of your maximum improvement in your medical condition or when your recovery is likely to be over. However, you'll need to prove your future financial loss by providing pay invoices, stubs as well as other proof of your current and past income.

Insurance companies will try to avoid paying the total amount of the damages they are legally required to pay. A personal injury lawyer with experience will ensure you receive all the compensatory damages you are entitled to. Dennis and King will be able to schedule a free consultation. We can assist you with the full range of economic and non-economic damage resulting from a New York car accident lawyer or other personal injury incident.