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Types of Accident Compensation

Typically, this type accident compensation covers medical expenses like prescription drugs and devices as well as physical therapy and surgery. It can also cover the loss of future earnings.

This type of compensation can be described as "general damages." It isn't always easy to determine the value of these damages since insurers use different methods of calculation.

Economic Damages

Economic damages are the tangible and quantifiable expenses resulting from an accident lawyers. They include out-of-pocket expenses like lost wages damages to property, and financial losses that will come from the disability or injury. Courts and juries usually calculate these costs using documents such as pharmacy receipts, hospital bills and estimates for repairs to vehicles.

These costs are fairly simple to prove and are among the most immediate expenses associated with the event of a crash. They usually include medical costs, such as the initial hospitalization and all subsequent treatment and care. They may also include the cost of repairing a damaged vehicle or other property items such as clothing and household goods. The cost of hiring someone to take care of chores around the house or transport children to and from school, or extracurricular activities can be included in these costs, as well.

Loss of wages is another common and significant category of economic damages. These include not only your missed wages from the time you were unable to work from work because of injuries, but they may include the loss of productivity in recovering, as well as any vacation or sick days. In some cases there is a possibility of recovering compensation in the event of a loss of future earning capacity. This is the case in the event that you are not able to return to your previous career or earn the same amount.

Although these costs are transparent and Accident Compensation quantifiable, some of the other damages you could claim are not as clear. These non-economic damages are often more difficult to quantify and may include things like pain and suffering, disfigurement, and loss of enjoyment of life.

How Can You Prove These Damages?

Certain expenses can be established by submitting receipts and documents However, others might require expert testimony. For instance, in cases when an accident lawsuit results in an extensive spinal cord injury which leaves a victim partially paralyzed, it might be necessary to consult with an occupational expert to determine the full impact of the injury. This can help the jury or court determine the true extent of your financial and personal impact.

The most complex economic losses are those that relate to future medical expenses and loss of earnings. You may be able prove these expenses by using a medical professional’s estimate of your maximum medical improvement or when your recovery is likely to be over. You will need to prove that you'll suffer future financial loss. This can be done by submitting your pay stubs or expense receipts.

Insurance companies try to avoid paying the total amount of damages they must legally pay. A seasoned personal injury lawyer will ensure that you receive all the compensation damages to which you are entitled. Dennis and King can set up a free consultation. We can help you recover all of your economic as well as other damages following the occurrence of a New York auto accident claim or personal injury accident claims.