personal injury lawsuits Injury Compensation - How to Get the Compensation You Need
It is normal to be concerned about your finances when involved in an accident. This is especially true if your injuries are severe.
There are a variety of ways to receive compensation for your injuries. These include economic damages and
lawyers non-economic damages like pain and suffering.
Economic Damages
Financial compensation is available to those who have suffered injuries due to the negligence of a third party. This compensation is intended to aid you in recovering from your injuries and return to the standard you had prior to your injury living.
In personal injuries there are two kinds of monetary damages that you could receive: non-economic and economic. The former is intended to compensate you for financial loss resulting from the accident, while the second is designed to pay for the emotional trauma that your injury has caused.
A jury or judge may award economic damages to victims in numerous cases. This can include lost wages and rehabilitation costs, medical bills and property damage expenses such as repair and replacement. This type of damage is real in the sense that it can be documented through receipts, bills and pay stubs.
The negligent conduct of a defendant can result in a wide range of economic losses. The losses can include the following:
- Loss in Earning Capacity
A victim could suffer a lower earning capacity following an injury. They could be forced accept a lower paying job or even become permanently disabled.
Future Earning Capacity
This is a difficult factor to determine since it is dependent on the nature, age,
lawyers and trends of a victim's career at the time of the accident. The person may be young and have a career that is growing, or they could be 58 and
lawyers have a complete retirement plan in front of them.
Past Capacity to Earn
This is a problem for juries as it requires a thorough examination of the victim's past employment and future earnings. A victim may be a recent graduate who has a career in engineering.
In addition, to the loss of earnings, the victim could be facing other expenses such as medical bills, car repairs and even out-of-pocket costs for therapy or medication.
In the end, these expenses can add up to an enormous amount of money. Adding up all these expenses to figure out what your financial damages could be will help you receive a fair settlement.
There are a variety of factors that determine the exact amount of your financial damages, which is why it is important to consult with an experienced personal injury lawyer who knows how these damages are calculated and given. Your lawyer will provide you with a list detailing all of your economic losses and help you identify experts who can assign a value to these losses in order to determine your compensation.