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Types of Accident Compensation

Typically, this form of payment covers medical expenses, such as prescription drugs and devices as well as physical therapy and surgery. This type of compensation can also be used to cover future earnings.

This kind of compensation is often called "general damages." It can be challenging to determine the value of these damages because insurers use different methods for calculation.

Economic Damages

Economic damages are the tangible and quantifiable expenses resulting from an accident compensation claims. These are expenses that are out of pocket like lost wages, property damage costs, and financial losses that will come from the injury or disability. These costs are figured by juries and courts based on documents like hospital bills, Accident Lawyer pharmacy receipts, as well as vehicle repair estimates.

These costs are fairly simple to prove and are among the most immediate expenses that are incurred in the event of a crash. They often include medical expenses including the initial hospitalization and any follow-up treatment and care. They can also include the cost of fixing damaged cars or other items of property including household and clothing goods. The cost of hiring someone to take care of chores around the home or to transport children to and from school or extracurricular activities could be included in these expenses and more.

Loss of wages is another important category of economic damages. These include not only your missed wages from the time you were unable to work from work due to your injuries, but they could be a factor in the loss of productivity during recovery and any use of vacation days or sick days. In some instances you can also claim compensation for the loss of your earning potential in the future if your injury prevents you from returning to your former job or prevents you from earning the same amount in the future.

These costs are fairly clear and measurable. However, other damages that you could claim are less so. Non-economic damages are more difficult to quantify and include things like discomfort and pain disfigurement, loss of enjoyment in life.

What can you do to show these damages?

While some of the costs within these categories are straightforward and can be substantiated with paperwork and receipts, other expenses may require expert testimony. For instance, in situations where an accident lawyers leads to an extensive spinal cord injury that leaves a victim partially paralyzed, Accident Compensation Claim it may be necessary to consult 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 what your total personal and financial impacts will be.

The most complex types of economic losses are those that involve future medical expenses and lost earnings. It is possible to document these costs using a medical professional's estimate of when you will achieve the point of maximum medical improvement or the time when your recovery will likely come to an end. You'll need to show that you'll suffer a future financial loss. This can be accomplished by sending in your pay stubs, or expense receipts.

Insurance companies are trying to avoid paying as much in damages as they are legally required to. A personal injury lawyer with experience can ensure that you get all of the compensatory damages you are entitled to. Contact Dennis and King today to set up an initial consultation for free. We can help you seek the full range of your economic and non-economic damages after an New York car accident claims or other personal injury accident Compensation claim.