Types of Accident Compensation
This kind of compensation typically covers medical expenses, such as prescription medications or devices, physical therapy, and surgery. It could also cover future earnings potential.
This type of compensation can be described as "general damages." However, determining the amount of these damages is difficult as insurers use different calculation methods.
Economic Damages
Economic damages are the tangible and quantifiable costs resulting from an accident. They include out-of-pocket expenses for lost wages due to missed work as well as property damage costs. future financial losses that are expected due to disability or injury. The courts and juries usually determine these costs based on documentation such as pharmacy receipts, hospital bills and estimates of vehicle repairs.
They are fairly easy to prove and are among the most immediate costs associated with an
accident law firm. They often include medical expenses including the initial hospitalization and all subsequent care and treatment. These costs can also comprise the cost of repairing a damaged car or other property items, such as clothing and household goods. They could also include the cost of hiring a person to assist with household chores or transport your children to school or other extracurricular activities.
The loss of wages is a different important type of economic damage. This includes not just your missed wages from the time you had to stay home from work because of your injuries, but include the loss of productivity during recovery and any sick days or vacation leave. In some instances, compensation can be recovered in the event of a loss of future earnings capacity. This is the case when you are unable to return to your former career or earn the equivalent amount.
While these expenses are clear and measurable, some of the other damages that you can claim are not as clear. These non-economic damages are sometimes more difficult to quantify, and could include things like pain and suffering, disfigurement and loss of enjoyment.
How can you prove the damage?
While some of the expenses in these categories are fairly straightforward and can be proven with receipts and documents Other expenses might require expert testimony. For example, in cases where an accident leads to an extremely severe spinal cord injury that leaves a victim partially paralyzed, it may be necessary to consult an occupational specialist to determine the full impact of the injury. This will aid the jury or the court to make a precise determination of what your total personal and financial impacts will be.
The most complex economic losses are those that involve future medical expenses and lost earnings. It is possible to document these expenses using a medical professional's estimate of when you will reach maximum medical improvement, or when your recovery is likely to end. You will need to prove that you'll suffer a future financial loss. This can be accomplished by submitting your pay stubs or expense receipts.
Insurance companies are trying to keep from paying as much damages as they are obligated to. A knowledgeable personal injury lawyer will ensure that you get all compensation to which you are entitled. Contact Dennis and King today to schedule a free consultation. We can help you pursue the full range of non-economic and financial injuries resulting from an New York car
accident or other personal injury accident.