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Types of Accident Compensation

Typically, this kind of compensation covers medical bills including prescription drugs and devices, physical therapy and surgery. This type of compensation can also cover future earnings potential.

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

Economic Damages

Economic damages are the tangible, quantifiable costs that result from an accident compensation. They include out-of-pocket expenses including lost wages damages to property, and financial losses that will come from the injury or disability. These costs are calculated by juries and courts based on documents such as hospital bills, pharmacy receipts, as well as vehicle repair estimates.

These are the direct costs of a crash, and are easy to prove. They usually include medical costs like the initial hospitalization and all subsequent care and treatment. They can also include the cost of repairs to a damaged vehicle or other property items, such as clothing and household items. The cost of hiring someone to take care of chores around the house or take children to and from school, or other activities may be included and more.

Lost wages are another frequent and significant category of economic damages. This includes not just your missing wages from the time you were forced to stay home from work because of injuries, but also include the loss of productivity in recovering, as well as any use of vacation or sick days. In some instances you can recover compensation for the loss of future earning capacity. This is the situation in the event that you cannot resume your previous work or earn the same amount.

Although these costs are transparent and quantifiable, some of the other damages that you can claim are less so. Non-economic damages are more difficult to quantify and include things like pain and discomfort or Accident Lawsuit disfigurement, as well as loss of enjoyment.

How Do You Prove These Damages?

While a few of the expenses within these categories are simple and Accident Compensation can be proved by receipts and paperwork However, some expenses will require expert testimony. For instance, in situations that an accident compensation causes a severe spinal cord injury that leaves the victim partially paralyzed or disabled, it could be necessary to consult with an occupational expert to determine the full impact of the injury. This can help the court or jury make an accurate determination of the full scope of personal and financial consequences will be.

The most complex economic damages are those related to future medical expenses and lost earnings. It is possible to document these costs by using a medical professional’s estimation of your best medical improvement or when your recovery is likely to come to an end. You'll need to show that you will suffer a future financial loss. This can be accomplished by providing your pay stubs or expense receipts.

Insurance companies try to avoid paying as much in damages as they are legally required to. A personal injury lawyer who has the right experience will ensure that you receive all the compensatory damages you are entitled to. Dennis and King can set up a free consultation. We can assist you in pursuing the full range of your non-economic and economic damage resulting from an New York car accident compensation or other personal injury incident.