personal injury law firm Injury Compensation - How to Get the Compensation You Need
If you're involved in an accident it is normal to be worried about your finances. This is especially true if you're involved in an accident that causes serious injuries.
There are many ways to receive compensation for your injuries. These include economic damages and non-economic damages, such as pain and suffering.
Economic Damages
Financial compensation is accessible to anyone who has been injured due to the negligence of another 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 injury law firm injury cases, there are two types of monetary damages you can receive: non-economic and economic. The first is designed to compensate you for financial loss resulting from the accident, while the latter is designed to pay for the emotional trauma that your accident has caused.
A jury or judge may award economic damages to victims in a variety of cases. This includes lost wages and rehabilitation costs, medical bills and property damage expenses like repair and replacement. The damages in this category are concrete in that it can be documented through receipts or pay stubs, as well as bills.
A defendant's negligence can cause different economic loss. These include:
- Loss of Earning Capacity
When a person is injured, their earning capacity may be significantly affected. They may have to accept a lower paying job or become permanently disabled.
- Future Earning Capacity
This is a difficult aspect to assess since it is dependent on the age, industry and trend of a victim's career at the time of the accident. The person may be young and their career that is on the rise, or they might be 58 and have a full retirement plan in front of them.
Past Earning Capacity
This is a problem for jurors because it requires a thorough examination of the victim's past employment and the potential earnings for the future. A victim may be a recent graduate with a career in engineering.
- In addition to lost wages, the victim may have faced other costs such as medical bills, car repairs, and even out-of-pocket costs for medication or therapy.
In the end, these costs will total a significant amount of money. Add all of these costs to figure out what your economic losses might be will help you get an equitable settlement.
There are many variables that influence the amount of your economic damages. It is important to consult with an experienced
personal injury law firm injury lawyer who will help you understand how these damages are calculated and determined. Your lawyer will provide you with a comprehensive list of all your current and future economic losses and will also solicit the help of experts who can place an approximate value on these damages for the purpose of formulating your compensation.